CTS Corporation (NYSE: CTS) today announced that CTS Automotive Products
has been awarded three new production programs to supply sensors for a
North American active manifold application and for two turbocharger
applications. Total expected revenues from these sensor awards are
approximately $15 million. These business wins are a direct result of
CTS’ successful initiative to develop and launch a series of new
products in its sensor product line.
CTS will supply active manifold sensors to a major Tier 1 supplier for
light-truck and sports car applications in North America. These sensors
help control air intake on engines, resulting in improved performance
and lower emissions. First deliveries are expected in mid-2014, with
anticipated revenues of approximately $8 million over the five-year
program life.
CTS will also supply turbocharger sensors to a global turbocharger
manufacturer for two new passenger car and light commercial vehicle
applications in Europe. These sensors help the turbocharger systems
boost engine power and improve fuel economy. Expected revenues from
these programs are approximately $7 million over their five-year life,
with first deliveries in 2014.
For more information on CTS’ sensor products, please contact Doug Grover
at 574-389-2853.
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 sensor and actuator
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.” 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;
unanticipated issues in integrating acquisitions; 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 and
floods in Thailand; 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 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.
