CTS CORPORATION Elkhart, Indiana 46514 (574) 523-3800
October 22, 2010
FOR RELEASE: Immediately
CTS Expands Thailand EMS Capabilities
Adds Complex Box Build Assembly Services in Southeast Asia
Elkhart, IN…CTS Corporation (NYSE: CTS) a leading supplier of electronics manufacturing services, will significantly expand its existing manufacturing site in Ayutthaya, Thailand. CTS will nearly double its capacity by adding 30,000 sq. ft. of space to its facility near Bangkok.
CTS Thailand is currently the Asia center for high-technology printed circuit board assembly (PCBA), supporting medical and other high reliability sectors. The investment will enable CTS to expand its value add services, providing complex box build and high level mechanical assembly.
The building expansion will be completed by mid-2011, when CTS Thailand will consolidate its position as a major provider of complex EMS services in Southeast Asia. It will continue to support customers in the higher reliability medical, military, communications and industrial electronics sectors who need lower cost manufacturing support in Asia. CTS Thailand is also ISO13485 (Medical), AS9100 (Aerospace) and TL9000 (Telecommunications) certified.
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, 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.
Donna L. Belusar, Senior Vice President and Chief
Financial Officer, or
|CTS Corporation, 905 West Boulevard North, Elkhart, IN 46514|
|Telephone: (574) 523-3800, Fax: (574) 293-6146|