CTS Awarded Production Program for Accelerator Pedal Modules with a Major Japanese Automotive Manufacturer
ELKHART, Ind.--CTS Corporation today announced that CTS Automotive Products has been awarded a production program for its Electronic Throttle Control (ETC) Accelerator Pedal Modules from a major Japanese vehicle manufacturer. This accelerator pedal module will be used on a popular small-car platform sold in North America.
First deliveries of these pedals will start in late 2010. Revenues from this award are expected to reach approximately $34 million over the five-year life of the program. This growth opportunity in North America reflects an excellent long-term customer relationship built on CTS’ engineering excellence and the quality of its products.
“In the current challenging economic environment, CTS is pleased to win new business and increase its market share with one of the prestigious Japanese automotive OEMs. This award reflects CTS’ ability to penetrate key global customers beyond the initial platform win. Counting this win, sales to this customer will nearly double to approximately $27 million annually by 2011,” stated Vinod M. Khilnani, CTS Chairman and Chief Executive Officer.