newsrelease              

CTS CORPORATION  Elkhart, Indiana 46514  •  (574) 523-3800   

 

 

 

July 19, 2007

FOR RELEASE:  Immediately

CTS Awarded Multiple China Production Programs for Accelerator Pedal Modules


Elkhart, IN…CTS Corporation (NYSE: CTS) today announced that CTS Automotive Products was awarded seven additional production programs for its Electronic Throttle Control (ETC) Accelerator Pedal Modules by Chery Automotive Co., Ltd. (“Chery”). The pedals will be built in CTS’ new facility in Zhongshan, China starting in the first quarter of 2008.    They will be used on a variety of models that will be sold in both China and internationally.

Total sales from these awards are expected to exceed $10 million over the five-year life of the programs.  Including these awards, CTS’ Accelerator Pedal Modules have now been selected for use on 63 different automotive platforms.

“We are pleased to win this additional business with Chery,” commented Tyler Buchanan, Senior Vice President, CTS Corporation. “The existing business we have with Chery allowed us to prove to them we are the leader in quality, delivery, and value.  Our investment in our Zhongshan facility has positioned CTS to grow in China with the automotive market.”

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 Chery
Chery Automotive Co., Ltd. is a leading Chinese vehicle and engine manufacturer with capacity of 400,000 vehicles per year.  They make a variety of models for the China light vehicle market and export to over 50 countries.  Chery is experiencing rapid growth; 2010 vehicle sales are targeted at over one million units with over 40% exported to other countries.  Chery employs 23,000 people and is headquartered in Wuhu, Anhui Province, P.R. China.  To find out more, visit the Chery website at www.cheryglobal.com.

 

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:      Matthew W. Long, Interim Chief Financial Officer and Treasurer, or
Mitchell J. Walorski, Director Planning and Investor Relations
  CTS Corporation, 905 West Boulevard North, Elkhart, IN 46514
  Telephone: (574) 523-3800,   Fax: (574) 293-6146