Friday, October 1, 2010

CTS incorporates in India to pursue opportunities in rapidly growing market

ELKHART, USA: CTS Corp. has formally incorporated as a business in India, further enhancing its capabilities in this fast growing market. The new subsidiary, CTS India Private Limited, located in Haryana, India, near New Delhi, will allow CTS to operate with full manufacturing, sales and service capabilities within India.

CTS has also captured new business for a customized small engine throttle position sensor (SETPS) from one of India’s leading and diversified engine and construction equipment manufacturers. Production is expected to begin in the fourth quarter of 2010 with sales of approximately $2.5 million over its multi-year program life.

Recent business wins in the Indian market, while modest in size, have allowed CTS to establish key relationships with large successful OEMs, an important step in the Company’s strategic growth plan.

“By incorporating in India, CTS is now able to begin aggressively pursuing business opportunities in the rapidly growing Indian economy,” commented Vinod M. Khilnani, CTS chairman and CEO.

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