updated: 9/20/2012 3:07:02 PM
Elkhart-based CTS Corp. (NYSE: CTS) has landed a $9 million contract with a Japanese vehicle manufacturer. The deal calls for CTS to supply a parking position sensor for an economy car.
September 20, 2012
Elkhart, Ind. -- CTS Corporation (NYSE: CTS) today announced that its Automotive Products group has been awarded a new production program to supply a parking position sensor for a global economy car for a major Japanese vehicle manufacturer and existing customer. Total expected revenues from this new sensor award are approximately $9 million over the five-year life of the program.
This business win is a direct result of CTS’ successful initiative to develop and launch a series of new products for transmission applications in its sensor product line. The new sensor, which will help improve vehicle performance, fuel economy and emissions by accurately determining gear position, will be manufactured at CTS’ Elkhart, Indiana facility with first deliveries expected in mid- 2013.
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 sensor and actuator products in Elkhart, Indiana; Toronto, Canada; Glasgow, Scotland; Ostrava, Czech Republic; Matamoros, Mexico; Kaohsiung, Taiwan; and Zhongshan, China.
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, 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.” To find out more, visit the CTS Web site at www.ctscorp.com.
Source: CTS Corp.