28.09.2006 19:14:00
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CTS and Sonceboz SA Announce Technical Collaboration and License Agreements for Brushless Motor Technology Development
CTS Corporation (NYSE:CTS) and Swiss-based Sonceboz SA, today announced their technical collaboration in the development of electronically controlled brushless actuators for automotive engine control systems. Both companies will develop and produce products under patents owned by Sonceboz SA, and its subsidiary, Moving Magnet Technologies SA. Joint engineering development will focus on brushless actuators having integrated position sensors, power drive and diagnostics electronics, providing added value and reliability for customers. Sonceboz will focus its business development activities in Europe while CTS will focus on customers in America and Asia. The market for targeted applications is expected to exhibit high growth reaching $1 billion by 2010. CTS anticipates production launches to begin in 2008. Jeff McCurley, Vice President and General Manager of CTS Automotive Products commented, "The collaboration and license agreements will significantly broaden the applications for which CTS can offer the added value of actuators packaged with our integrated electronics and position sensors. Given our long-term relationship with Sonceboz SA and the shared technical capabilities of both companies, we will be able to rapidly and cost-effectively develop products at both of our companies.” About CTS Automotive Products CTS Automotive Products is a global leader in the design, test and manufacture of automotive sensors, accelerator pedal modules, actuators and subsystems. Recognized for its customer responsiveness and expertise in high-volume automotive packaging, CTS Automotive Products is focused on delivering value-added products and services to its expanding worldwide customer base. The Company manufactures automotive and related products in Elkhart, Indiana; Toronto, Canada; Glasgow, Scotland; Ostrava, Czech Republic; Matamoros, Mexico; Kaohsiung, Taiwan; and Dongguan, China. About CTS CTS is a leading designer and manufacturer of electronic components and sensors and a provider of electronics manufacturing services (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 "CTS.” To find out more, visit the CTS Web site at www.ctscorp.com. About Sonceboz SA Headquartered in Switzerland, Sonceboz SA, established more than 70 years ago, manufactures electrical drives, specializing in the fields of mechatronic systems. In its automotive product line, the company produces stepper motors, linear actuators and torque motors, which are usually designed and tailor-made as modules to meet customers’ requirements. With subsidiaries located in France and the United States, Sonceboz employs approximately 750 employees. To find out more, visit the Sonceboz Web site at www.sonceboz.com. Safe Harbor 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 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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