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CTS
CORPORATION Elkhart, Indiana 46514 (574) 293-7511
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August 14, 2006
FOR RELEASE: Immediately
CTS Receives
Electronic Accelerator Pedal Module Development Contract from Major Japanese
Automotive Manufacturer
Elkhart, IN…CTS Corporation (NYSE: CTS) today
announced that a major Japanese automobile manufacturer has awarded CTS
Automotive Products a development contract for an Electronic Accelerator Pedal
Module to be featured on Asian and European small-car platforms.
A production award is expected next year. Production is scheduled to launch in 2008 with total sales estimated at $15 million over the five-year life of the program.
To date, CTS’ Pedal Modules have been selected by seven automotive OEMs for use in 47 different automotive platforms. Based on current production awards alone, CTS pedal module sales are expected to reach $33 million this year ramping to over $65 million by 2008.
For more information on CTS Accelerator Pedal Modules, please contact Ken Kochanowski at (574) 389-2749 (North America) or Dave Russell at 011-44-1698-503941 (Europe).
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About CTS Automotive Products
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.
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, 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
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 | |