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CTS Electronics Manufacturing Solutions Awarded Manufacturing Contract from BAE Systems

^{Published on 2009-02-17 07:57:50, Last Modified on 2009-02-17 07:59:09 - Market Wire}
 

ELKHART, Ind.--([ BUSINESS WIRE ])--CTS Corporation (NYSE: CTS) a leading supplier of electronics manufacturing services, has been awarded a manufacturing contract from BAE Systems to provide multiple complex electronic assemblies for the A3 Bradley Fighting Vehicle.

Utilizing state-of-the-art technologies, CTS Electronics Manufacturing Solutions (EMS) will provide Line-Replaceable Units (LRUs), a complex component that is designed to be replaced quickly, for Power Control, System Control and Distribution. CTS EMS anticipates that the manufacturing phase will commence at its California facility beginning mid-year 2009 and continue through 2010. These awards are expected to add approximately $24 million of revenue.

The Bradley A3, manufactured by BAE Systems, is the most technologically advanced digital combat system deployed today. The Bradley Combat System has played a centerpiece role in Operation Iraqi Freedom and continues to provide outstanding survivability, mobility and lethality to U.S. soldiers in all types of close-combat urban scenarios or in open-combat terrain. The vehicle fulfills critical infantry, cavalry, fire support, battle command and engineer roles for the Army's heavy brigades.

CTS EMS' success results from focusing on providing the highest levels of product and service quality. CTS EMS anticipates providing continued service excellence and maintaining its excellent relationship with BAE Systems.

About CTS EMS

CTS EMS is a turnkey provider of manufacturing solutions to customers in a range of electronics equipment markets. With global manufacturing facilities in North America, Europe and Asia, a broad product offering and a complete range of turnkey services, CTS is the ideal choice for an OEM seeking customized product solutions from a focused and agile EMS partner.

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: changes in the economy generally and in respect to the businesses in which CTS operates, including those resulting from the current global financial and credit crisis; pricing pressures and reduction in demand for CTS' products, especially if economic conditions do not recover or continue to worsen in CTS' served markets, including but not limited to: the automotive, computer equipment, or communications markets; disruption, uncertainty, or volatility in the credit markets that could adversely impact the availability of credit already arranged by CTS and the availability and cost of credit in the future; the financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with inadequate liquidity) to maintain their credit availability or ongoing viability; the Company's successful execution of restructurings and profit improvement plans; risks associated with CTS' international operations, including trade and tariff barriers; currency fluctuations and their effects on our results of operations and financial position; changes in performance of equity and debt markets that could affect the valuation of the assets in CTS' pension plans and the accounting for pension assets, liabilities, and expenses; political and geopolitical risks; rapid technological change in the automotive, communications and computer industries; reliance on key customers; and CTS' ability to protect its intellectual property. 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.