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CTS Awarded Production Program for New Engine Sensors

^{Published on 2010-07-23 06:41:23 - Market Wire}
 

ELKHART, Ind.--([ BUSINESS WIRE ])--CTS Corporation (NYSE: CTS) today announced that CTS Automotive Products was awarded a production program for a new sensor to be introduced by a Japanese OEM for global light vehicle manufacture. This new program continues the outstanding working relationship that has been established between CTS and Japanese OEMs on a variety of automotive sensing needs.

The sensor is used as a key part of an advanced engine management system on gasoline engines for added fuel economy and improved emissions on small cars sold globally. Sensor production is anticipated to begin late 2011 with total revenues over the life of the five-year program to be approximately $5.0 million.

With constant market pressures to improve emissions, improve fuel economy and reduce engine costs, automotive manufacturers are increasingly relying on advanced sensors to meet these needs. CTSa™ sensor will provide automotive OEMs with a cost-effective solution for higher accuracy requirements.

The awarded program is the first in a targeted effort to establish CTS as an advanced sensor supplier for all automotive OEMs utilizing a variety of engine management strategies. An important milestone has been reached as CTS has adapted its current sensor technologies into new automotive market segments.

For more information on CTSa™ sensors please contact Ray Blythe, Sensors Engineering Manager, at 574-389-2890.

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, communications, medical, defense and aerospace, industrial and computer markets. CTS manufactures products in North America, Europe and Asia. CTS' stock is traded on the NYSE under the ticker symbol "CTS.a 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 and are based on various assumptions as to future events, the occurrence of which necessarily are subject to uncertainties. 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 CTSa™ products, especially if economic conditions do not recover or continue to worsen in CTSa™ 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; risks associated with CTSa™ 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 CTSa™ 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; CTSa™ ability to protect its intellectual property; and potential costs and liabilities related to the recent Toyota recall. For more detailed information on the risks and uncertainties associated with CTSa™ business, see the reports CTS files with the Securities and Exchange Commission 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.