Auto parts maker CTS gets turbocharger sensor production contract from unnamed manufacturer
By APMonday, June 21, 2010
CTS gets turbocharger sensor production deal
ELKHART, Ind. — CTS Corp., maker of gas pedals and other auto parts, said Monday that it has been awarded a production program for turbocharger sensors by an unnamed manufacturer.
The turbochargers will be used primarily in light vehicles sold in Europe. CTS will produce a sensor for a twin stage turbocharger in an effort to improve fuel economy and power.
CTS said the five-year program will begin in late 2010. Initial revenues are expected to reach $4 million and eventually double in value.
Shares of CTS rose 2 cents to $10.34 in afternoon trading.
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