CTS CORPORATION Elkhart, Indiana 46514 (574) 523-3800
June 8, 2009
FOR RELEASE: Immediately
CTS Electronics Manufacturing Solutions Awarded
Long-Term Manufacturing Contract by
Aviation Communication & Surveillance Systems (ACSS)
Elkhart, IN…CTS Corporation (NYSE: CTS) a leading supplier of electronics manufacturing services, was awarded a three-year manufacturing contract for renewal of its business with ACSS, a leader in safety avionics systems that increase safety, situational awareness and efficiency for commercial and military flight operators.
CTS Electronics Manufacturing Solutions (CTS EMS) will become the prime supplier of manufactured products from design support, NPI and development, to high level assembly. This new contract followed successful manufacturing support for several of ACSS’ key products. ACSS will benefit from agile local fulfillment and production support from CTS EMS’ facility in Moorpark, California. Production begins in mid-2009 with revenues expected to reach approximately $35 million over the program period.
CTS EMS has
developed a reputation for supporting high-end, complex manufacturing and
service quality. This contract reflects success in supporting ACSS with their
critical safety avionics applications.
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
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 and are based on various assumptions as to future events, the occurrence of which necessarily are subject to uncertainties. 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: changes in the economy generally and in respect to the businesses in which CTS operates, including those resulting from the current global financial and credit crisis; pricing pressures and reduction in demand for CTS’ products, especially if economic conditions do not recover or continue to worsen in CTS’ served markets, including but not limited to: the automotive, computer equipment or communications markets; disruption, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged by CTS and the availability and cost of credit in the future; the financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with inadequate liquidity) to maintain their credit availability or ongoing viability; the Company’s successful execution of restructurings and profit improvement plans; risks associated with CTS’ international operations, including trade and tariff barriers; currency fluctuations and their effects on our results of operations and financial position; changes in performance of equity and debt markets that could affect the valuation of the assets in CTS’ pension plans and the accounting for pension assets, liabilities and expenses; political and geopolitical risks; rapid technological change in the automotive, communications and computer industries; reliance on key customers; and CTS’ ability to protect its intellectual property. 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|