CTS Streamlining Some OperationsPosted: Updated:
Elkhart-based CTS Corp. (NYSE: CTS) is planning to consolidate a Canadian operation into existing facilities in Mexico and China. The company expects the process to be complete early next year. March 3, 2014
ELKHART, Ind. - 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.
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."
Source: CTS Corp.