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CTS
CORPORATION Elkhart, Indiana 46514 (574) 293-7511
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June 13, 2005
FOR RELEASE: Immediately
CTS Corporation To Supply Pierburg with Advanced Exhaust Gas
Recirculation Sensors
Elkhart, IN…CTS Corporation (NYSE:CTS), a global leader in automotive position sensors, actuators and subsystems, today announced the award of a multi-year program to supply Pierburg with exhaust gas recirculation (EGR) sensors. Pierburg, headquartered in Germany, is one of the world’s leading providers of EGR valve systems. Pierburg will integrate the CTS sensors into their next generation electronic EGR valve systems for use on passenger vehicles in Europe and North America. CTS will begin production of the new sensors later this year and expects to be delivering over 2 million units a year of these sensors by 2007. The multi-platform program is expected to provide about $50 million in revenues over the expected five-year life of the program.
The market for
exhaust gas recirculation sensors is driven by government regulations
restricting the level of exhaust emissions that vehicles can produce. This
market continues to expand as emission standards are tightened and adopted more
broadly around the world. CTS is the largest supplier of EGR sensors in the
world. By working closely with our customers we have been able to develop and
adapt advanced sensor technologies to meet the stringent needs of customers such
as Pierburg.
About CTS Automotive Products: CTS Automotive Products designs and manufactures sensors, actuators and subsystems used in powertrain, safety, suspension, fuel and emissions control systems for automotive manufacturers worldwide. The Company manufactures automotive and related products in Elkhart and Berne, Indiana; Streetsville, Ontario, Canada; Glasgow, Scotland; Matamoros, Mexico; Kaohsiung, Taiwan; and Dongguan, China.
For more information on non-contacting EGR sensors and related products, please contact Dave Russell at (011) 44 1698 503841 or e-mail at dave.russell@is.ctscorp.com.
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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."
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 |