CTS Awarded Production Program for New Electronic Accelerator Pedal Module by Honda Motor Corporation.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 automotive sensors, actuators and subsystems, today announced that Honda Motor Corporation has awarded CTS Automotive Products a production contract for Accelerator Pedal Modules. This award follows a development contract awarded to CTS in the fourth quarter of 2005. This accelerator pedal module will be manufactured in one of our facilities in China and will be used on a small-car platform. Production is scheduled to begin in late 2007 and is expected to generate sales of over $7 million per year by 2008. The total program is projected to be worth $40 million. Jeff McCurley, Vice President and General Manager of CTS Automotive Products commented, "Leveraging our strengths in design flexibility, product quality and customer support gives Honda the high quality and performance necessary for this application. CTS looks forward to growing our relationship with Honda who is well known for providing quality automotive products to the world." To date, CTS' accelerator pedal modules have been selected by seven automotive OEMs for use in 46 different automotive platforms. Based on current awards alone, CTS pedal module sales are expected to reach $33 million this year ramping to over $65 million by 2008. For more information on 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 Accelerator Pedal Modules, please contact Ken Kochanowski at (574) 389-2749. About CTS Automotive Products CTS Automotive Products designs and manufactures sensors, actuators and subsystems used in powertrain, safety, suspension, fuel and emissions control Emissions control may refer to:
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 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. , 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, 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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