CTS Awarded Development Program for New Electronic Accelerator Pedal Module for Major Japanese Automotive Manufacturer.ELKHART, Ind. -- CTS (1) (Clear To Send) The RS-232 signal sent from the receiving station to the transmitting station that indicates it is ready to accept data. Contrast with RTS. (2) (Common Type System) The data typing used in . Corporation (NYSE NYSE See: New York Stock Exchange :CTS), a global leader in electronic pedal modules, today announced that a major Japanese automobile manufacturer has awarded CTS Automotive Products a development contract for an Electronic Throttle Control Electronic throttle control (ETC) is an automobile technology which severs the mechanical link between the accelerator pedal and the throttle. Most automobiles already use a throttle position sensor (TPS) to provide input to traction control, antilock brakes, fuel injection, and (ETC ETC - ExTendible Compiler. Fortran-like, macro extendible. "ETC - An Extendible Macro-Based Compiler", B.N. Dickman, Proc SJCC 38 (1971). ) Accelerator Pedal Module. The pedal will be used on a global small-car platform that will be manufactured in three Asian countries. Production is scheduled to start in July of 2007. The production program is expected to generate sales of over $7 million per year by 2008 and over $32 million in total new revenues for CTS over the life of the program. "This is a new customer to CTS and is also the fourth Japanese OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and to select CTS' electronic accelerator pedal module," said Christine Trowbridge, Pedal Business Manager for the Automotive Products Group. "Our new product development team has worked very hard to earn a reputation of technical excellence and superior customer support, which has translated into tremendous market success for our pedal product," added Trowbridge. To date, CTS' pedal module has been selected by seven automotive OEMs for 42 different automotive platforms. It is being produced in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Asia and Europe. Pedal module sales are expected to reach $18 million this year and ramp to over $60 million by 2008, based on these awards alone. The ETC pedal module is replacing existing mechanical accelerator pedals and transparently substitutes a fast and accurate electronic signal for the conventional throttle cable. This advanced design reduces the number of components and associated wear, while providing the vehicle manufacturer with the capability to tune the vehicle drivability and performance by platform and model. CTS' ETC pedal modules enable engine control calibration for improved fuel economy and emissions control Emissions control may refer to:
CTS Automotive Products designs and manufactures sensors, actuators and subsystems used in powertrain, safety, suspension, fuel and emissions control systems for automotive manufacturers worldwide. The Company manufactures automotive and related products in Elkhart and Berne, Indiana Berne is a city in Adams County, Indiana, settled in 1852 by seventy devout Mennonite immigrants who came directly from Switzerland, and named for the capital of Switzerland. The population was 4,150 at the 2000 census. Geography Berne is located in Northeast Indiana. ; Toronto, Canada; Glasgow, Scotland; Matamoros, Mexico; Kaohsiung, Taiwan; and Dongguan, China. For more information on both contacting and non-contacting accelerator pedal modules and related products, please contact Ken Kochanowski at (574) 389-2749 (North America), Dave Russell at 011 44 1698 503941 (Europe), or Kenichi Sato at 011 81 45 4502363 (Japan). About CTS CTS is a leading designer and manufacturer of electronic components and sensors and a provider of electronics manufacturing services Electronic manufacturing services (EMS) is term used for companies that design, test, manufacture, distribute and provide return/repair services for electronic component and assemblies for original equipment manufacturers (OEMs). (EMS) to OEMs in the automotive, computer, communications, medical and industrial markets. CTS manufactures products in North America, Europe and Asia. CTS' stock is traded on the NYSE under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors "CTS." To find out more, visit the CTS Web site at www.ctscorp.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This press release contains certain statements that are, or may be deemed to be, forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements include, but are not limited to, statements regarding the business and strategic benefits of the SMTEK acquisition, any financial or other guidance, and all statements that are not based on historical fact, but rather reflect our current expectations concerning future results and events. We make certain assumptions when making forward-looking statements, any of which could prove inaccurate, including, but not limited to, statements about our future operating results and business plans. The ultimate correctness of these forward-looking statements is dependent upon a number of known and unknown risks and events, and is subject to various uncertainties and other factors that may cause our actual results, performance, or achievements to be different from any future results, performance, or achievements expressed or implied by these statements. For more detailed information on the risks and uncertainties associated with CTS' business activities, see our reports filed with the SEC. CTS undertakes no obligation to publicly update its forward-looking statements, whether as a result of market or industry changes, new information or future events. |
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