CTS Awarded Pedal Module Production Programs With Japanese Automotive Manufacturer; Valued at $13M
CTS Corporation (NYSE: CTS) today announced that its Automotive Products group has been awarded three new production programs to supply pedal modules for a major Japanese vehicle manufacturer. These programs further strengthen CTS' position with this key existing customer and continue to enhance CTS' share of the rapidly growing Asian markets.
The pedal modules will be used on a newly-released economy segment small car for the India and Thailand markets as well as on a popular family minivan for the Chinese and Japanese markets. The pedals will be manufactured in CTS' Zhongshan, China facility. Deliveries will begin in 2012 for the small car and in mid-2013 for the family minivan.
Total revenues from these awards are expected to exceed $13 million over the life of these programs.
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