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newsrelease
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CTS
CORPORATION Elkhart, Indiana 46514 (574)
523-3800
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October 11, 2011
FOR RELEASE: Immediately
CTS Awarded Production Programs for Piezoceramic Products
With a Major Military Contractor
Elkhart, IN …
CTS Corporation (NYSE: CTS) today announced that CTS Electronic Components has
been awarded two new production programs from a major U.S. sonar manufacturer.
Both awards represent new programs and will result in an increase in CTS’ global
piezo market share. The first deliveries will begin in early 2012. Revenues
from these two awards are expected to reach approximately $5 million over the
program life.
CTS Electronic
Components’ piezoceramic value-added products benefit from specialized
technology and enhanced processing capabilities for a broad range of
applications including hard disk drive actuation, medical ultrasound, flight
stability, sonar arrays, industrial printing and hydrophones for energy
exploration.
For more information on this new piezoelectric capability, please contact Scott Hulick at 505-348-4213 or visit the CTS Piezoelectric Materials website at www.ctscorp.com/components/PZT/.
About CTS Electronic
Components
CTS Electronic Components is a leading provider of engineered electronic
components used in communications, medical, defense and aerospace, industrial
and computer applications for OEMs and Contract Manufacturers worldwide. The
Company has manufacturing locations in Albuquerque, New Mexico; Tucson, Arizona;
Nogales, Mexico; Singapore; Zhongshan and Tianjin, China; Kaohsiung, Taiwan; and
Brϋgg, Switzerland.
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.” To find out
more, visit the CTS Web site at
www.ctscorp.com.
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 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; rapid technological change; general
market conditions in the automotive, communications, and computer industries, as
well as conditions in the industrial, defense and aerospace, and medical
markets; reliance on key customers; unanticipated natural or other events such
as the Japan earthquake; the ability to protect our intellectual property;
pricing pressures and demand for our products; and risks associated with our
international operations, including trade and tariff barriers, exchange rates
and political and geographical 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: |
Thomas A. Kroll, Vice President and Chief
Financial Officer, or |
| CTS Corporation, 905 West Boulevard North, Elkhart, IN 46514 | |
| Telephone: (574) 523-3800, Fax: (574) 293-6146 | |