Science & Technology
Science and Technology
Science and Technology
Mon, January 19, 2009
Sat, January 17, 2009
Fri, January 16, 2009 CTS Awarded Production Program for Turbocharger Sensor
ELKHART, Ind.--([ BUSINESS WIRE ])--CTS Corporation (NYSE: CTS) today announced that CTS Automotive Products has been awarded a production program for its new non-contacting two-piece linear position sensors by one of the world's leading manufacturers of turbochargers. These turbochargers will be used on smaller engines for light vehicle applications in Europe.
The sensors will be built in one of CTS' state-of-the-art facilities in Europe, with the first deliveries starting in late 2009. Total sales from these awards are expected to reach approximately $11 million over the five-year life of the program.
This program win represents a new automotive market segment for CTS automotive sensors and was made possible because of CTS' ability to meet aggressive new product introduction timing with an innovative new product design. The new sensors are designed to integrate into pneumatic vacuum actuators, resulting in improved performance at a lower cost.
Despite a difficult global automotive environment, CTS continues to develop new applications for its sensor products and technology.
For more information on CTS sensors, please contact Will Mitchell at (574) 389-2852.
About CTS Automotive Products
CTS Automotive Products is a global leader in the design, test and manufacture of automotive sensors, accelerator pedal modules, actuators and subsystems. Recognized for its customer responsiveness and expertise in high-volume automotive packaging, CTS Automotive Products is focused on delivering value-added products and services to its expanding worldwide customer base. The Company manufactures automotive and related products in Elkhart, Indiana; Toronto, Canada; Glasgow, Scotland; Ostrava, Czech Republic; Matamoros, Mexico; Kaohsiung, Taiwan; and Zhongshan, China.
About CTS
CTS is a leading designer and manufacturer of electronic components and sensors and a provider of electronics manufacturing services (EMS) to OEMs in the automotive, computer, communications, medical, defense and aerospace and industrial markets. CTS manufactures products in North America, Europe and Asia. CTS' stock is traded on the NYSE under the ticker symbol "CTS." To find out more, visit the CTS Web site at [ www.ctscorp.com ].
Safe Harbor Statement
This press release contains statements that are, or may be deemed to be, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, any financial or other guidance, statements that reflect our current expectations concerning future results and events, and any other statements that are not based solely on historical fact. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. These forward-looking statements are made subject to certain risks, uncertainties and other factors, which could cause our actual results, performance or achievements to differ materially from those presented in the forward-looking statements, including, without limitation, potential changes in the economy generally and in respect to the businesses in which CTS operates; rapid technological change in the automotive, communications and computer industries; reliance on key customers; CTS' ability to protect its intellectual property; pricing pressures and demand for CTS' products; and risks associated with CTS' international operations, including trade and tariff barriers, exchange rates and political and geopolitical risks. For more detailed information on the risks and uncertainties associated with CTS' business, see the reports CTS files with the SEC, available at [ http://www.ctscorp.com/investor_relations/investor.htm ]. CTS undertakes no obligation to publicly update its forward-looking statements to reflect new information or events or circumstances that arise after the date hereof, including market or industry changes.
