|
newsrelease
|
|
|
|
CTS
CORPORATION Elkhart, Indiana 46514 (574) 293-7511
|
April 29, 2005
FOR RELEASE: Immediately
CTS Corporation Awarded Multiple Accelerator Pedal Assembly
Programs with
a Major Japanese Automotive Manufacturer
Elkhart, IN…CTS Corporation (NYSE: CTS), a global leader in the design and
manufacture of automotive sensors, actuators and subsystems, announced today
that a major Japanese vehicle manufacturer has selected CTS Automotive Products
to supply Electronic Throttle Control (ETC) Pedal Assemblies to several
automobile platforms produced in North America, Europe, and Africa. Beginning in
2006, these new production wins will generate over $30 million in revenues for
CTS over the five-year estimated life of the program.
“CTS’ ETC Pedal Assemblies integrate our best-in-class sensor technologies into
the accelerator pedal providing superior performance and best value to OEMs
globally. CTS’ global success in this product line can be attributed to our
experience with automotive products and our ability to meet all technical and
production needs for our customers,” according to Jeff McCurley, Vice
President/General Manager for the Automotive Products Group at CTS.
This win exemplifies CTS’ strategy to expand our automotive customer base with
innovative new products in growing market segments to provide double digit sales
growth over the next five years.
CTS Automotive Products designs and manufactures sensors, actuators and
subsystems used in the powertrain, safety, and chassis groups of automotive
manufacturers worldwide. The Company manufactures the products in Elkhart and
Berne, Indiana; Streetsville, Ontario, Canada; Glasgow, Scotland; Matamoros,
Mexico; Kaohsiung, Taiwan; and Dongguan, China.
For more information on non-contacting ETC pedal modules and related products,
please contact Ken Kochanowski at (574) 389-2749 (North America), Dave Russell
at 011 44 1698 503941 (Europe), or Barry Simes at (574) 395-3575 (Asia).
# # # #
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 and communications 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 certain 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, statements regarding the business and strategic benefits of the
SMTEK acquisition, any financial or other guidance, and all statements that are
not based on historical fact, but rather reflect our current expectations
concerning future results and events. We make certain assumptions when making
forward-looking statements, any of which could prove inaccurate, including, but
not limited to, statements about our future operating results and business
plans. The ultimate correctness of these forward-looking statements is dependent
upon a number of known and unknown risks and events, and is subject to various
uncertainties and other factors that may cause our actual results, performance,
or achievements to be different from any future results, performance, or
achievements expressed or implied by these statements.
For more detailed information on the risks and uncertainties associated with
CTS' business activities, see our reports filed with the SEC. CTS undertakes no
obligation to publicly update its forward-looking statements, whether as a
result of market or industry changes, new information or future events.
| Contact: | Vinod M. Khilnani, Sr. Vice President and Chief Financial
Officer, or Mitchell J. Walorski, Director of Investor Relations |
| CTS Corporation, 905 West Boulevard North, Elkhart, IN 46514 | |
| Telephone: (574) 293-7511, Fax: (574) 293-6146 | |
| www.ctscorp.com |