CTS CORPORATION Elkhart, Indiana 46514 (574) 293-7511
December 15, 2003
FOR RELEASE: Immediately
CTS Corporation to Supply Automotive Active Manifold Actuators
Elkhart, IN…CTS Corporation (NYSE: CTS), a world leader in automotive position sensor and actuator technology, today announced that a major international automotive manufacturer has selected CTS Automotive Products as its sole supplier of active manifold actuators for a new family of engines, to be produced in North America beginning in 2005. Production intent prototypes are currently being supplied, with tooling and production activity commencing in early 2004. This program represents $35 million to $40 million in revenue for CTS over the expected seven-year life.
Global emissions regulations continue to become more stringent, requiring automakers to find new methods to lower emissions while delivering outstanding vehicle performance. This has created a growing market for active manifolds, which are expected to be installed on approximately 30% of all vehicles produced in North America by 2007. Active manifolds are intake manifolds that can vary the airflow to improve engine performance and lower vehicle emissions. Recent emissions regulations also require that sensors be used to confirm proper rotation of the active manifold air valve, to control airflow under dynamic engine conditions. CTS has developed an innovative solution that integrates the valve position sensor into the actuator, resulting in a smaller, lower-cost and higher-performance package.
Designed and developed from proprietary torque motor technology, CTS actuators deliver fast response time, high torque-to-current ratio and precise direct-drive control. These actuators utilize lower-cost uni-directional drive circuits, and provide packaging and mounting flexibility in tight spaces such as engine compartments. CTS actuators meet all typical under-hood automotive specifications and are compatible with multiple engine-control units. Options include integrated contacting or non-contacting sensors and motor drive/control circuitry, providing complete "smart actuator" capability.
CTS Automotive Products designs and manufactures sensors, actuators and subsystems for the automotive, transportation and small engine industries. CTS manufactures automotive products in Elkhart, Indiana; Streetsville, Ontario, Canada; High Blantyre, Scotland; Matamoros, Mexico; Kaohsiung, Taiwan; and Dongguan, China. For more information on CTS Automotive Products, contact John Deibel at 574-295-3575.
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CTS Corporation is a leading designer and manufacturer of electronic components and sensors, and a provider of EMS products and services for the automotive, computer and communications markets. We manufacture products in North America, Europe and Asia. Our network of direct sales personnel, independent manufacturers’ representatives and electronic distributors provides worldwide sales coverage. Our stock is traded on the NYSE under the ticker symbol "CTS."
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Statements about the Company contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s expectations, certain assumptions and currently available information. Actual results may differ materially from those reflected in the forward-looking statements due to a variety of political, geopolitical, economic, health, industry and regulatory factors which could affect the Company's operating results, liquidity and financial condition. Investors are encouraged to examine the Company’s SEC filings, which more fully describe the risks and uncertainties associated with the Company’s business.
|Contact:||Vinod M. Khilnani, Sr. Vice President and Chief Financial
George T. Newhart, Vice President Investor Relations
905 West Boulevard North
Elkhart, IN 46514
|Telephone: (574) 293-7511, Fax: (574) 293-6146|