|
newsrelease
|
|
|
|
CTS
CORPORATION Elkhart, Indiana 46514 (574) 293-7511
|
June 6, 2007
FOR RELEASE: Immediately
CTS Awarded
Production Program for Turbocharger Sensors
Elkhart, IN…CTS Corporation (NYSE: CTS) today announced that CTS Automotive
Products was awarded a production program by a leading global turbocharger
manufacturer for a Turbocharger Position Sensor. The sensor will be used to
measure vane position in variable geometry turbochargers used on passenger
vehicles in Europe. Production will begin in the second half of 2008, with
annual volumes ramping steadily to well over one million units per year. Total
revenues are expected to be approximately $30 million over the five-year life of
the program.
The use of turbochargers on passenger vehicles is rapidly increasing to meet ever stricter emission regulations. Almost all of today’s diesel engines use a turbocharger, and they are now being used on many gasoline engines. The newer turbochargers incorporate vanes to vary the shape of the intake nozzles, making the turbochargers more responsive at low speeds. Some also incorporate waste gate valves to control the amount of exhaust fed into the turbocharger. Position sensors are used for closed-loop control of these vanes and gates.
“The CTS Turbocharger sensor is an extension of our Exhaust Gas Recirculation (EGR) Sensor product line,” commented Tyler Buchanan, Senior Vice President, CTS Corporation. “As the world’s leading producer of EGR sensors, we offer customers years of proven experience with position sensors for high temperature applications such as these turbocharger applications. With our global engineering and production footprint we can support this growth technology in all regions of the world.”
For more information on CTS’ Turbocharger Sensors, please contact Seamus McKenna at 011-44-1698-505078.
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 and 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.”
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 the reports CTS files 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.
| Contact: | Vinod M. Khilnani, Senior Vice President and Chief Financial
Officer, or Mitchell J. Walorski, Director Planning and Investor Relations |
| CTS Corporation, 905 West Boulevard North, Elkhart, IN 46514 | |
| Telephone: (574) 293-7511, Fax: (574) 293-6146 | |
| www.ctscorp.com |