CTS Corp. (CTS) Gets $17M in New Pedal Module Orders
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CTS Corporation (NYSE: CTS) today announced that its Automotive Products group has been awarded three new production programs to supply pedal modules for major Japanese and Chinese vehicle manufacturers. CTS Automotive has also been awarded a new production program to supply exhaust gas recirculation sensors for a leading EGR valve supplier serving the Chinese and Korean markets. These new business wins further demonstrate CTS’ continuing success in the rapidly growing Asian markets.
Total revenues from these awards are expected to exceed $17 million over the five-year life of these programs. The pedal module programs have expected revenues of approximately $10 million with first deliveries in 2013 and will be manufactured in CTS’ Zhongshan, China facility. The EGR program has expected revenue of approximately $7 million and will be manufactured in CTS’ Elkhart, Indiana facility starting this year.
Total revenues from these awards are expected to exceed $17 million over the five-year life of these programs. The pedal module programs have expected revenues of approximately $10 million with first deliveries in 2013 and will be manufactured in CTS’ Zhongshan, China facility. The EGR program has expected revenue of approximately $7 million and will be manufactured in CTS’ Elkhart, Indiana facility starting this year.
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