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CTS
CORPORATION Elkhart, Indiana 46514 (574)
523-3800
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November 7, 2007
FOR RELEASE: Immediately
CTS Awarded Three Production Programs for Small Engine Throttle Position Sensors
Elkhart, IN…CTS Corporation (NYSE: CTS) today announced that CTS was awarded three additional production programs for its Small Engine Throttle Position Sensor (SETPS) with a total value of nearly $7 million over the life of the programs. The sensors will be built in CTS’ Kaohsiung, Taiwan facility with the first program starting in 2007 and production continuing past 2011. Including these awards, CTS’ SETPS is now utilized by nine customers in seven countries on a variety of motorcycle and scooter applications around the globe.
CTS sells its SETPS to most of the leading small engine EFI and E-Carburetor suppliers and is used on many of the major motorcycle and scooter brands throughout the world. The market for these sensors is growing by 30% per year, with CTS commanding a 35% share of this market due to its sensor expertise and early market entry. Demand is driven by increasingly more stringent emissions regulations for the small engine market, as well as customer demands for better performance and fuel economy.
For more information on CTS’ Small Engine Throttle Position Sensors and related products, please contact Will Mitchell at (574) 389-2852 for customers located in North America, or Charles Hsiao in Taiwan at 886-7-821-6145 for customers located in other regions.
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, including, without limitation, rapid
technological change and general market conditions in the automotive,
communications and computer industries; reliance on key customers; CTS’ ability
to protect its intellectual property; pricing pressures and demand for CTS’
products; risks associated with CTS’ international operations, including trade
and tariff barriers, exchange rates and political and geopolitical risks; and
the impact of the accounting misstatements at its Moorpark and Santa Clara,
California locations, including the results or the impact of the SEC’s informal
inquiry into these misstatements. 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 | |
| www.ctscorp.com |