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CTS
CORPORATION Elkhart, Indiana 46514 (574) 293-7511
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September 28, 2006
FOR RELEASE: Immediately
CTS and Sonceboz SA Announce Technical
Collaboration and License Agreements for Brushless Motor Technology Development
Elkhart, IN…CTS Corporation (NYSE: CTS) and Swiss-based Sonceboz SA,
today announced their technical collaboration in the development of
electronically controlled brushless actuators for automotive engine control
systems.
Both companies will develop and produce products under patents owned by Sonceboz SA, and its subsidiary, Moving Magnet Technologies SA. Joint engineering development will focus on brushless actuators having integrated position sensors, power drive and diagnostics electronics, providing added value and reliability for customers.
Sonceboz will focus its business development activities in Europe while CTS will focus on customers in America and Asia. The market for targeted applications is expected to exhibit high growth reaching $1 billion by 2010. CTS anticipates production launches to begin in 2008.
Jeff McCurley, Vice President and General Manager of CTS Automotive Products commented, “The collaboration and license agreements will significantly broaden the applications for which CTS can offer the added value of actuators packaged with our integrated electronics and position sensors. Given our long-term relationship with Sonceboz SA and the shared technical capabilities of both companies, we will be able to rapidly and cost-effectively develop products at both of our companies.”
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.”
About Sonceboz SA
Headquartered in Switzerland, Sonceboz SA, established more than 70 years
ago, manufactures electrical drives, specializing in the fields of mechatronic
systems. In its automotive product line, the company produces stepper motors,
linear actuators and torque motors, which are usually designed and tailor-made
as modules to meet customers’ requirements. With subsidiaries located in France
and the United States, Sonceboz employs approximately 750 employees. To find out
more, visit the Sonceboz Web site at
www.sonceboz.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, 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 | |
| www.ctscorp.com |