CTS Wins Additional Electronic Accelerator Pedal Module Programs With Major Japanese22 January 2005
CTS Corporation (NYSE:CTS - News), a global leader in electronic pedal modules, today announced that a major Japanese and European automotive manufacturer has awarded CTS Automotive Products three additional programs for Electronic Throttle Control (ETC) Accelerator Pedal Modules. Production for these programs will launch in 2006 and 2007. These programs will result in new revenues for CTS of approximately $15 million over a five-year estimated life.
CTS' ETC pedal modules will be produced at CTS manufacturing facilities in Europe and China and will be installed in passenger vehicles built in North America, Europe, Japan and China. CTS was selected for these awards based on previous successful programs with this customer, a flexible design that allows for package variations by model and region, and local engineering and production capabilities close to the customers facilities in each region of the world.
The ETC pedal module replaces existing mechanical accelerator pedals. Its advanced design reduces the number of components, while providing the vehicle manufacturer with the capability to tune vehicle drivability and performance by platform and model. CTS' ETC pedal modules also enable engine control calibration for improved fuel economy and emissions control. These modules are compatible with multiple engine control units and are equally efficient in gasoline and diesel applications.
CTS Automotive Products designs and manufactures sensors, actuators and subsystems used in powertrain, safety, suspension, fuel and emissions control systems for automotive manufacturers worldwide. The Company manufactures automotive and related products in Elkhart and Berne, Indiana; Streetsville, Ontario, Canada; Glasgow, Scotland; Matamoros, Mexico; Kaohsiung, Taiwan; and Dongguan, China.
For more information on both contacting and non-contacting accelerator pedal modules and related products, please contact Jim White at (574) 389-2865.
The statements about future results are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's expectations, certain assumptions and currently available information. Actual results may differ materially from those reflected in the forward-looking statements due to a variety of geopolitical, economic, health, industry and other factors which could affect the Company's operating results, liquidity and financial condition. Investors are encouraged to examine the Company's SEC filings, which more fully describe the risks and uncertainties associated with the Company's business.
CTS Corporation is a leading designer and manufacturer of electronic components and sensors, and a provider of EMS products for the automotive, computer and communications markets. The Company manufactures products in North America, Europe and Asia. A network of direct sales personnel, independent manufacturers' representatives and electronic distributors provides worldwide sales coverage. The Company's stock is traded on the NYSE under the ticker symbol "CTS". To find out more, visit the CTS Web site at www.ctscorp.com.
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Contact:
CTS Corporation, Elkhart
Vinod M. Khilnani or Mitchell J. Walorski, 574-293-7511
FAX 574-293-0251
www.ctscorp.com
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Source: CTS Corporation
Source: Business Wire via Yahoo
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