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CTS
CORPORATION Elkhart, Indiana 46514 (574) 293-7511
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May 14, 2007
FOR RELEASE: Immediately
CTS Corporation Awarded Multiple Production Programs for Accelerator
Pedal Modules
Elkhart, IN…CTS Corporation (NYSE: CTS) today announced that CTS Automotive Products was awarded additional production programs for its Electronic Throttle Control (ETC) Accelerator Pedal Modules. The awards come from two major Japanese OEMs and will be used on five different platforms. The pedals will be built in CTS facilities in North America, Europe and Asia with the first deliveries starting in the second quarter of 2008.
Total sales from these awards are expected to reach approximately $19 million over the life of the programs. Including these awards, CTS’ Accelerator Pedal Modules have now been selected for use on 55 different automotive platforms.
“These program wins demonstrate the versatility of our pedal products,” commented Tyler Buchanan, Senior Vice President, CTS Corporation. “These awards are for both contacting and non-contacting pedals and cover passenger cars, small crossover utility vehicles and premium SUVs built and sold in North America, South America, Europe and Asia.”
For more information on ETC
Accelerator Pedal Modules, please contact Ken Kochanowski at (574) 389-2749.
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 Zhongshan, 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, defense/aerospace 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 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, statements that reflect our
current expectations concerning future results and events, and any other
statements that are not based solely on historical fact. Readers are cautioned
not to place undue reliance on these forward-looking statements, which speak
only as of the date hereof. These forward-looking statements are made subject
to certain risks, uncertainties and other factors, which could cause our actual
results, performance or achievements to differ materially from those presented
in the forward-looking statements. For more detailed information on the risks
and uncertainties associated with CTS’ business, see our reports filed with the
SEC. CTS undertakes no obligation to publicly update its forward-looking
statements to reflect new information or events or circumstances that arise
after the date hereof, including market or industry changes.
| Contact: | Vinod M. Khilnani, Senior Vice President and Chief Financial
Officer, or Mitchell J. Walorski, Director Planning and Investor Relations |
| CTS Corporation, 905 West Boulevard North, Elkhart, IN 46514 | |
| Telephone: (574) 293-7511, Fax: (574) 293-6146 | |
| www.ctscorp.com |