Science & Technology
Science and Technology
Science and Technology
Thu, February 19, 2009 CTS Wins Program from Major Ultrasound Company for New Piezoceramic High Dielectric Materials
ELKHART, Ind.--([ BUSINESS WIRE ])--CTS Corporation (NYSE: CTS) a global leader in the design and manufacture of highly engineered electronic components and piezoelectric materials, today announced that it has received orders for their new 3257HD and 3265HD high dielectric piezoceramic materials from an existing key customer, which is a leader in its respective market.
The new high dielectric piezoelectric material provides the customer with enhanced diagnostic image capability in real time for critical ultrasound applications in the medical market. These orders will increase annual sales with this customer to approximately $2 million per year, with production for the enhanced product beginning in the second quarter 2009.
CTS is a leading global provider of piezoceramic offerings serving the medical, industrial, defense and aerospace markets. CTS' Electronic Components piezoceramic value-added products benefit from specialized technology and enhanced processing capabilities for a broad range of applications including medical ultrasound, flight stability, industrial wide format inkjet printers, sonar transducers and hydrophones for oil exploration.
For more information on piezoceramic products, please contact Scott Hulick at (505)348-4213.
About CTS Electronic Components
CTS Electronic Components is a leading provider of engineered electronic components used in communications, computing, industrial and consumer applications for OEMs and Contract Manufacturers worldwide. The Company has manufacturing locations in Albuquerque, New Mexico; Tucson, Arizona; Nogales, Mexico; Singapore; Zhongshan and Tianjin, China; and Kaohsiung, Taiwan.
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.
