CTS awarded new development and production program for piezoelectric micro actuators

CTS Corporation (NYSE: CTS) today announced that CTS Electronic Components was awarded a major new development and production program for piezoelectric micro actuators for data storage devices (hard disk drives). Production is anticipated to begin in the fourth quarter 2010 with total revenues over the next three years to be approximately $14 million and over $10 - $12 million annually thereafter.

The market for piezoceramic micro actuators is growing rapidly and is estimated at approximately $60 million within the next few years. The awarded program is part of the family of piezoceramic formulations CTS has developed in response to growing market opportunities. The micro actuator incorporates patented technology.

CTS is a leading global provider of piezoceramic offerings serving the medical, industrial, defense and aerospace markets. CTS’ Electronic Components piezoceramic value-added products benefit from specialized technology and enhanced processing capabilities for a broad range of applications including medical ultrasound, flight stability, industrial wide format inkjet printers, sonar transducers and hydrophones for oil exploration.