CTS Corporation Awarded Multiple Production Programs for Accelerator Pedal Modules
ELKHART, Ind.--CTS Corporation today announced that CTS Automotive Products was awarded additional production programs for its Electronic Throttle Control (ETC) Accelerator Pedal Modules. The awards come from two major Japanese OEMs and will be used on five different platforms. The pedals will be built in CTS facilities in North America, Europe and Asia with the first deliveries starting in the second quarter of 2008.
Total sales from these awards are expected to reach approximately $19 million over the life of the programs. Including these awards, CTS’ Accelerator Pedal Modules have now been selected for use on 55 different automotive platforms.
“These program wins demonstrate the versatility of our pedal products,” commented Tyler Buchanan, Senior Vice President, CTS Corporation. “These awards are for both contacting and non-contacting pedals and cover passenger cars, small crossover utility vehicles and premium SUVs built and sold in North America, South America, Europe and Asia.”
For more information on ETC Accelerator Pedal Modules, please contact Ken Kochanowski at (574) 389-2749.
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/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.” 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. 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. For more detailed information on the risks and uncertainties associated with CTS’ business, see our reports filed with the SEC. 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.