CTS Corp. Announces Deal With Global Supplier

CTS Corp. designs and manufactures accelerator pedal components like this.

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Elkhart-based CTS Corp. (NYSE: CTS) expects a contract with a foreign supplier to bring in around $23 million for the manufacturer. The deal involves accelerator pedal modules for a "major" company in the European and Asian markets.

Shipments are slated to begin in 2018.

Chief Executive Officer Kieran O’Sullivan says "this represents the second significant pedal win in Europe in the last twelve months. We are excited to support this customer globally and expand the portfolio of products we supply to them."

In February, CTS Corp. announced a deal for the components with a German car manufacturer that was expected to generate around $35 million in revenue.

The latest announcement follows the company’s acquisition last month of Filter Sensing Technologies Corp., a Massachusetts-based startup.

CTS Corp. also manufactures components for the aerospace, communications, defense, industrial, information technology, medical and transportation sectors.