CTS CORPORATION Elkhart, Indiana 46514 (574) 523-3800
December 10, 2007
FOR RELEASE: Immediately
Corporation Adds New Piezo Product Capabilities From Acquisition
Of Alpha Ceramics, Inc.
Elkhart, IN…CTS Corporation (NYSE: CTS) today announced it has completed the acquisition of the technology, manufacturing process and certain other assets of Alpha Ceramics Inc., a privately held company. Alpha Ceramics provides piezoceramic materials for sensor and transducer manufacturers in military and aerospace markets, complementing CTS’ existing portfolio of piezoceramic offerings. Financial details were not disclosed.
The acquisition unites Alpha's unique hard piezoceramic materials, hot pressing and near net shape processing technologies, with CTS’ high volume, high density, and value added soft piezo formulation manufacturing capabilities. As a result, CTS’ Electronic Components will enhance its leading global position in piezoceramics with a unique range of capabilities. Alpha’s materials are suitable for transducers and actuators requiring high force and sustained duty cycles. Typical applications for these newly acquired materials are sonar transducers, ultrasonic motors and therapeutic medical devices. The combined technologies and processing capabilities will spur innovations from the wide range of possibilities created for value-add piezoceramic processing.
The acquisition brings together a set of material and process technologies that are unique in the world, enabling CTS to serve customers with a broad range of possibilities for value-added products.
For more information on
piezoceramic products, please contact Scott Hulick at (505)348-4213.
About CTS Electronic
CTS Electronic Components is a leading provider of engineered electronic components used in communications, computing, industrial and consumer applications for OEMs and Contract Manufacturers worldwide. The Company has manufacturing locations in Albuquerque, New Mexico; Burbank, California; Singapore; Zhongshan and Tianjin, China; and Kaohsiung, Taiwan.
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 and 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, including, without limitation, rapid technological change and general market conditions in the automotive, communications and computer industries; reliance on key customers; CTS’ ability to protect its intellectual property; pricing pressures and demand for CTS’ products; risks associated with CTS’ international operations, including trade and tariff barriers, exchange rates and political and geopolitical risks; and the impact of the accounting misstatements at its Moorpark and Santa Clara, California locations, including the results or the impact of the SEC’s informal inquiry into these misstatements. For more detailed information on the risks and uncertainties associated with CTS’ business, see the reports CTS files 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.
Matthew W. Long, Interim Chief Financial Officer and Treasurer, or
Mitchell J. Walorski, Director Planning and Investor Relations
|CTS Corporation, 905 West Boulevard North, Elkhart, IN 46514|
|Telephone: (574) 523-3800, Fax: (574) 293-6146|