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CTS
CORPORATION Elkhart, Indiana 46514 (574)
523-3800
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June 21, 2010
FOR RELEASE: Immediately
CTS Awarded Production Program for Turbocharger
Sensor
Continues Penetration into Markets Beyond Traditional Automotive
Applications
Elkhart, IN…CTS Corporation (NYSE: CTS) today announced that CTS Automotive Products was awarded a production program for its turbocharger sensor by one of the world’s leading manufacturers of turbochargers. These turbochargers will be used on light vehicle applications primarily in European markets.
The awarded program is for a unique linear design sensor for a twin stage turbocharger application to improve power, performance and fuel economy. Production is anticipated to begin late 2010 with initial revenues over the life of this five-year program to exceed $4 million, potentially doubling as these new systems become fully adopted. This sensor program award continues CTS’ growth in the expanding fuel economy and emissions-focused markets which are being driven by tightening global regulations.
For more
information on CTS’ sensors please contact Ray Blythe, Sensors Engineering
Manager, at 574-389-2890.
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, communications, medical, defense and aerospace, industrial and
computer 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; 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; CTS’ ability to protect its
intellectual property; and potential costs and liabilities related to the recent
Toyota recall. For more detailed information on the risks and uncertainties
associated with CTS’ business, see the reports CTS files with the Securities and
Exchange Commission 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 | |