CTS Corporation and Kinseki, Ltd. Announce Joint Strategic Relationship
25 April 2000
CTS Corporation and Kinseki, Ltd. Announce Joint Strategic Relationship
ELKHART, Ind.--April 24, 2000--CTS Corporation (NYSE:CTS) today announced the formation of a joint strategic relationship with Kinseki, Ltd. of Kanagawa, Japan. Under the terms of a Technology Exchange and License Agreement, CTS and Kinseki will exchange the license of patents and intellectual property with regard to the design and manufacture of frequency control products, predominantly for wireless communications applications. Specific details of the agreement were not made available. This is the second joint strategic relationship CTS has announced within the past month.CTS and Kinseki have complementary technologies focused on the GSM, CDMA, TDMA and W-CDMA cellular handset equipment market. Specifically, this technology reaches all levels of vertical integration for the design and manufacture of frequency control devices. The CTS and Kinseki cooperative relationship will enhance new product time to market and improve cost competitiveness regarding product development of frequency control devices. The management of both CTS and Kinseki are extremely optimistic about the opportunities the relationship brings to their respective companies.
In February 1999, CTS acquired the Component Products Division (CPD) of Motorola, Inc. and renamed the business CTS Wireless Components. The Wireless Components strategic business group of CTS provides a wide variety of electronic components including quartz crystals, quartz crystal oscillators, ceramic filters and duplexers and surface acoustic wave filters for the cellular handset industry. The CTS products to be cooperated on under this agreement will be manufactured in facilities managed by CTS Executive Vice President, Philip G. Semprevio, who has operating responsibility for CTS Wireless Components.
Kinseki, Ltd. is a one hundred year old quartz crystal manufacturer with expertise ranging from growing synthetic quartz crystal bars to providing finished quartz crystal products. Kinseki produces approximately 415 tons of synthetic quartz bars yearly. For additional information, contact Kinseki Japan at kinseki.co.jp or Kinseki USA at www.kss.com.
CTS Corporation (NYSE:CTS) designs, manufactures and sells a broad line of electronic components and custom electronic assemblies for OEM customers primarily in the communications equipment, automotive and computer equipment markets worldwide. CTS operates manufacturing facilities in the United States, Canada, Mexico, Scotland, Singapore, Taiwan and China. For additional information, visit our website at www.ctscorp.com.