CTS Corporation (NYSE: CTS) announced that it has been awarded a new
production program to supply accelerator pedal modules to a German
automobile manufacturer. Shipments are anticipated to commence in 2017,
and the total revenues are expected to be in the range of $35 million
over the life of the program.
“We are pleased that CTS has been selected to provide product to this
important new customer,” said Kieran O’Sullivan, CEO of CTS Corporation.
“This represents a significant win and milestone as we continue our
strategy to expand in Europe.”
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;
the results of actions to reposition our businesses; 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 1A. of the Annual Report on Form
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statements to reflect new information or events or circumstances that
arise after the date hereof, including market or industry changes.
Copyright Business Wire 2015