CTS Corp. Inks Deal With German Auto Maker
Elkhart-based CTS Corp. (NYSE: CTS) has announced a deal to produce accelerator pedal modules for a German car manufacturer. The company expects the agreement to generate around $35 million in revenue. Shipments are set to begin in 2017. February 2, 2015
ELKHART, Ind. - 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."
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.