CTS CORPORATION Elkhart, Indiana 46514 (574) 523-3800
October 15, 2008
FOR RELEASE: Immediately
CTS Electronics Manufacturing Solutions
Manufacturing Contracts with New Customers
Elkhart, IN…CTS Corporation (NYSE: CTS) a leading supplier of electronics manufacturing services, has been awarded manufacturing contracts from four new customers to provide complex electronic assemblies.
CTS Electronics Manufacturing Solutions (EMS) will provide printed circuit board assemblies, utilizing state-of-the-art technologies, to new customers for use in alternative and renewable energy solutions such as wind power, portable medical ultrasound equipment and high-end networking video products. CTS EMS anticipates that the initial manufacturing phase will commence late 2008 at its U.S. and China facilities. These awards are expected to add approximately $15 - $20 million of new revenue in 2009.
CTS EMS was successful in penetrating these new customers by focusing on providing the highest levels of product and service quality. CTS EMS anticipates providing continued service excellence to these customers with potential additional high-level assembly follow-on work as these new programs ramp.
About CTS EMS
CTS EMS is a turnkey provider of manufacturing solutions to customers in a range of electronics equipment markets. With global manufacturing facilities in North America, Europe and Asia, a broad product offering and a complete range of turnkey services, CTS is the ideal choice for an OEM seeking customized product solutions from a focused and agile EMS partner.
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, potential changes in the economy generally and in respect to the businesses in which CTS operates; rapid technological change 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; and risks associated with CTS’ international operations, including trade and tariff barriers, exchange rates and political and geopolitical risks. For more detailed information on the risks and uncertainties associated with CTS’ business, see the reports CTS files with the SEC, available at http://www.ctscorp.com/investor_relations/investor.htm. 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.
Donna L. Belusar, Senior Vice President and Chief
|CTS Corporation, 905 West Boulevard North, Elkhart, IN 46514|
|Telephone: (574) 523-3800, Fax: (574) 293-6146|