CTS CORPORATION Elkhart, Indiana 46514 (574) 293-7511
June 26, 2006
FOR RELEASE: Immediately
CTS Automotive Products Recognized by Toyota for Achievements in
Delivery and Quality Performance
Elkhart, IN…CTS Corporation (NYSE: CTS), has been recognized by Toyota Motor Manufacturing North America Inc. (TMMNA) for outstanding delivery and quality performance. Toyota honored CTS Automotive Products’ Canadian manufacturing facility for achieving 100 percent on-time delivery and for shipping accelerator pedal modules with zero defects in 2005.
“Toyota views our suppliers as business partners, and together we have improved our efforts in quality, delivery and value,” said Simon Nagata, Vice President of Purchasing for TMMNA, located in Erlanger, Kentucky.
Jeff McCurley, Vice President and General Manager of CTS Automotive Products added, “We are proud to have our manufacturing site in Canada recognized by Toyota for their delivery and quality performance. Toyota is known for its extremely high standards, and achieving this level of delivery and quality performance requires both excellent manufacturing capabilities and processes as well as a strong working relationship with Toyota. This recognition is a tribute to both our suppliers and the dedicated people working at our facility.”
This is the second recognition
award CTS has received from Toyota in the last year.
About CTS Automotive
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 Dongguan, China.
Toyota (NYSE: TM) established operations in North America in 1957 and currently operates 14 manufacturing plants in North America, including two currently under construction. There are more than 1,700 Toyota, Lexus and Scion dealerships in North America, which sell more than 2.5 million vehicles a year. Toyota directly employs more than 38,000 workers in North America, an investment currently valued at more than $16.8 billion, including sales and manufacturing operations, research and development, financial services and design. Toyota's annual purchasing of parts, materials, goods and services from North American suppliers totals more than $28 billion.
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, 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, Senior Vice President and Chief Financial
Mitchell J. Walorski, Director of Investor Relations
|CTS Corporation, 905 West Boulevard North, Elkhart, IN 46514|
|Telephone: (574) 293-7511, Fax: (574) 293-6146|