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CTS
CORPORATION Elkhart, Indiana 46514 (574)
523-3800
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January 16, 2009
FOR RELEASE: Immediately
CTS Awarded Production Program for Turbocharger
Sensor
Elkhart, IN...CTS Corporation (NYSE: CTS) today announced that CTS Automotive Products has been awarded a production program for its new non-contacting two-piece linear position sensors by one of the world’s leading manufacturers of turbochargers. These turbochargers will be used on smaller engines for light vehicle applications in Europe.
The sensors will be built in one of CTS’ state-of-the-art facilities in Europe, with the first deliveries starting in late 2009. Total sales from these awards are expected to reach approximately $11 million over the five-year life of the program.
This program win represents a new automotive market segment for CTS automotive sensors and was made possible because of CTS’ ability to meet aggressive new product introduction timing with an innovative new product design. The new sensors are designed to integrate into pneumatic vacuum actuators, resulting in improved performance at a lower cost.
Despite a difficult global automotive environment, CTS continues to develop new applications for its sensor products and technology.
For more
information on CTS sensors, please contact Will Mitchell at (574) 389-2852.
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, 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. 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, potential
changes in the economy generally and in respect to the businesses in which CTS
operates; rapid technological change in the automotive, communications and
computer industries; reliance on key customers; CTS’ ability to protect its
intellectual property; pricing pressures and demand for CTS’ products; and risks
associated with CTS’ international operations, including trade and tariff
barriers, exchange rates and political and geopolitical 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: |
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 | |
| www.ctscorp.com |