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CTS Corporation Awarded Production Program for Small Engine Throttle Position Sensor for India Motorcycle Market

Dépèche transmise le 1 octobre 2009 par Business Wire

CTS Corporation Awarded Production Program for Small Engine Throttle Position Sensor for India Motorcycle Market

CTS Corporation Awarded Production Program for Small Engine Throttle Position Sensor for India Motorcycle Market

ELKHART, Ind.--(BUSINESS WIRE)--CTS Corporation (NYSE: CTS) today announced that it was awarded a new production program for a small engine throttle position sensor (SETPS) by an Indian Tier 1 supplier. The SETPS will be part of the carburetor assembly on engines for motorcycles produced by a major Indian motorcycle manufacturer for the Indian market. The SETPS will be a key component that will enable the motorcycle manufacturer to meet tightening emission standards that are being introduced in India. Production is anticipated to begin late 2009 with 2010 revenues from this initial win approximating $1.5 million, with additional growth potential as multiple platforms adopt this technology.

The large Indian motorcycle market, with approximately seven million two-wheeled motorized vehicles being produced annually, continues to experience strong growth. As emission laws are tightened through the implementation of Bharat Stage III and IV emissions requirements, and more OEMs adopt sensor technology, CTS is well-placed to grow its sales in India. To enhance opportunities in this market, CTS recently announced opening a liaison office near New Delhi and has entered into a Marketing Agreement with ZF Electronics TVS.

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." To find out more, visit the CTS Web site at www.ctscorp.com.

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 and are based on various assumptions as to future events, the occurrence of which necessarily are subject to uncertainties. 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: changes in the economy generally and in respect to the businesses in which CTS operates, including those resulting from the current global financial and credit crisis; pricing pressures and reduction in demand for CTS’ products, especially if economic conditions do not recover or continue to worsen in CTS’ served markets, including but not limited to: the automotive, computer equipment or communications markets; disruption, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged by CTS and the availability and cost of credit in the future; the financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with inadequate liquidity) to maintain their credit availability or ongoing viability; the Company’s successful execution of restructurings and profit improvement plans; risks associated with CTS’ international operations, including trade and tariff barriers; currency fluctuations and their effects on our results of operations and financial position; changes in performance of equity and debt markets that could affect the valuation of the assets in CTS’ pension plans and the accounting for pension assets, liabilities and expenses; political and geopolitical risks; rapid technological change in the automotive, communications and computer industries; reliance on key customers; and CTS’ ability to protect its intellectual property. For more detailed information on the risks and uncertainties associated with CTS’ business, see the reports CTS files with the SEC, available at http://www.ctscorp.com/investor_relations/investor.htm. 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.

Business Wire

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