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CTS Awarded Production Programs for Accelerator Pedal Modules and Transmission Sensors with Chinese and North American Automoti

^{Published on 2011-04-13 06:20:44 - Market Wire}
 

ELKHART, Ind.--([ BUSINESS WIRE ])--CTS Corporation (NYSE: CTS) today announced that CTS Automotive Products has been awarded three new production programs with Chinese vehicle manufacturers for its Electronic Throttle Control (ETC) Accelerator Pedal Modules plus a new Transmission Sensor program for a North American platform. All four awards represent new business and will result in an increase in CTSa™ global market share.

The pedal modules for the Chinese vehicles will be manufactured in CTSa™ facility in Zhongshan, China. The transmission sensors will come out of CTSa™ facility in Matamoros, Mexico and will be used in a new luxury all-electric vehicle. This is CTSa™ second business award for transmission sensors.

Shipments have already begun for some of the programs. The remaining programs will launch over the next 18 months. Revenues from these four awards are expected to reach approximately $15 million over the anticipated five-year lives of the programs.

For more information on ETC Accelerator Pedal Modules, please contact Ken Kochanowski at (574) 389-2749. 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 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; 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; 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 customer recalls. 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.