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CTS
CORPORATION Elkhart, Indiana 46514 • (574)
523-3800
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October 15, 2008
FOR RELEASE: Immediately
CTS Electronics Manufacturing Solutions
Awarded Multiple
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.
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 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.
| Contact: |
Donna L. Belusar, Senior Vice President and Chief
Financial Officer |
| CTS Corporation, 905 West Boulevard North, Elkhart, IN 46514 | |
| Telephone: (574) 523-3800, Fax: (574) 293-6146 | |
| www.ctscorp.com |