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CTS
CORPORATION Elkhart, Indiana 46514 (574) 293-7511
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October 11, 2005
FOR RELEASE: Immediately
CTS Announces Plans to Manufacture
in Czech Republic
Elkhart, IN…CTS Corporation (NYSE:CTS) a global leader in automotive position
sensors, actuators and subsystems, today announced that it will establish a
manufacturing operation in Ostrava, Czech Republic. Ostrava is located on the
eastern border of the Czech Republic. Production is expected to start mid-2006.
The facility will initially manufacture automotive products for the European
market.
According to Jeff McCurley, Vice President and General Manager of CTS Automotive Products, “Our European sales are projected to double in the next five years. Expansion of our European manufacturing presence to the Czech Republic will better serve our European automotive customers. Locating our new plant in Ostrava offers low costs, availability of technical skills and necessary manufacturing infrastructure,” added McCurley.
Vehicle manufacturers continue to establish and expand their manufacturing capabilities in Eastern Europe. These OEMs expect suppliers to be logistically close to their manufacturing plants to minimize inventory and transportation costs.
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; Toronto, Canada;
Glasgow, Scotland; Matamoros, Mexico; Kaohsiung, Taiwan; and Dongguan, 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, computer, communications, medical and industrial 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 |