CTS Awarded Development Program for New Electronic Accelerator Pedal Module for Major Japanese Automotive Manufacturer
ELKHART, Ind.--Nov. 2, 20059, 2005--CTS Corporation , a global leader in electronic pedal modules, today announced that a major Japanese automobile manufacturer has awarded CTS Automotive Products a development contract for an Electronic Throttle Control (ETC) Accelerator Pedal Module. The pedal will be used on a global small-car platform that will be manufactured in three Asian countries. Production is scheduled to start in July of 2007. The production program is expected to generate sales of over $7 million per year by 2008 and over $32 million in total new revenues for CTS over the life of the program."This is a new customer to CTS and is also the fourth Japanese OEM to select CTS' electronic accelerator pedal module," said Christine Trowbridge, Pedal Business Manager for the Automotive Products Group. "Our new product development team has worked very hard to earn a reputation of technical excellence and superior customer support, which has translated into tremendous market success for our pedal product," added Trowbridge.
To date, CTS' pedal module has been selected by seven automotive OEMs for 42 different automotive platforms. It is being produced in North America, Asia and Europe. Pedal module sales are expected to reach $18 million this year and ramp to over $60 million by 2008, based on these awards alone.
The ETC pedal module is replacing existing mechanical accelerator pedals and transparently substitutes a fast and accurate electronic signal for the conventional throttle cable. This advanced design reduces the number of components and associated wear, while providing the vehicle manufacturer with the capability to tune the vehicle drivability and performance by platform and model. CTS' ETC pedal modules enable engine control calibration for improved fuel economy and emissions control. The 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; Toronto, Canada; Glasgow, Scotland; Matamoros, Mexico; Kaohsiung, Taiwan; and Dongguan, 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 and industrial 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.
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