CTS Corporation (NYSE: CTS) announced that it has been awarded a new
production program to supply accelerator pedal modules to a major OEM in
the European and Asian markets. The total revenues are expected to be in
the range of $23 million over the five year life of the program, with
shipments commencing in the second half of 2018.
“This represents the second significant pedal win in Europe in the last
twelve months,” said Kieran O’Sullivan, CEO of CTS Corporation. “We are
excited to support this customer globally and expand the portfolio of
products we supply to them.”
About CTS
CTS (NYSE: CTS) is a leading designer and manufacturer of sensors,
actuators and electronic components to OEMs in the aerospace,
communications, defense, industrial, information technology, medical,
and transportation markets. CTS manufactures products in North America,
Europe and Asia.
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
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necessarily are subject to uncertainties. These forward-looking
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achievements to differ materially from those presented in the
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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;
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our intellectual property; pricing pressures and demand for our
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any product liability claims; 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 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.
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