CTS Corporation (NYSE: CTS) today announced that it intends to
consolidate its Canadian operation in Streetsville, Ontario, into other
existing CTS facilities. The consolidation process is expected to be
completed in the first half 2015. Operations at the Canadian facility
will be transferred to CTS’ facilities in Mexico and China. The decision
to consolidate the Canadian operation is part of CTS’ overall strategic
plan to simplify its business model and rationalize CTS’ global
footprint.
About CTS
CTS is a leading designer and manufacturer of
electronic components and sensors to OEMs in the automotive,
communications, medical, defense and aerospace, industrial and computer
markets. CTS manufactures products in North America, Europe and Asia.
CTS' stock is traded on the NYSE under the ticker symbol "CTS.”
Safe Harbor
This document 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. Forward-looking
statements are based on management’s expectations, certain assumptions
and currently available information. 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. Examples of factors
that may affect future operating results and financial condition
include, but are not limited to: changes in the economy generally and in
respect to the businesses in which CTS operates; unanticipated issues in
integrating acquisitions; rapid technological change; general market
conditions in the automotive, communications, and computer industries,
as well as conditions in the industrial, defense and aerospace, and
medical markets; reliance on key customers; unanticipated natural
disasters or other events; the ability to protect our intellectual
property; pricing pressures and demand for our products; and risks
associated with our international operations, including trade and tariff
barriers, exchange rates and political and geopolitical risks. Many of
these, and other, risks and uncertainties are discussed in further
detail in Item 1.A of the Annual Report on Form 10-K. We undertake no
obligation to publicly update our forward-looking statements to reflect
new information or events or circumstances that arise after the date
hereof, including market or industry changes.
Copyright Business Wire 2014