ELKHART, Ind.--CTS Corporation (NYSE: CTS) has been awarded a new production program for a small engine throttle position sensor (SETPS) by an Indian Tier 1 supplier. The SETPS will be part of the carburetor assembly on engines for motorcycles produced by a major Indian motorcycle manufacturer for the Indian market. The SETPS will be a key component that will enable the motorcycle manufacturer to meet tightening emission standards that are being introduced in India. Production is anticipated to begin late 2009 with 2010 revenues from this initial win approximating $1.5 million, with additional growth potential as multiple platforms adopt this technology.
The large Indian motorcycle market, with approximately seven million two-wheeled motorized vehicles being produced annually, continues to experience strong growth. As emission laws are tightened through the implementation of Bharat Stage III and IV emissions requirements, and more OEMs adopt sensor technology, CTS is well-placed to grow its sales in India. To enhance opportunities in this market, CTS recently opened a liaison office near New Delhi and has entered into a Marketing Agreement with ZF Electronics TVS.
CTS is a designer and manufacturer of electronic components and sensors and a provider of electronics manufacturing services (EMS) to OEMs in the automotive, computer, communications, medical, defense and aerospace and industrial markets. CTS manufactures products in North America, Europe and Asia. CTS' stock is traded on the NYSE under the ticker symbol "CTS." To find out more, visit the CTS Web site at www.ctscorp.com.
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