CTS receive order from a German car manufacturer
CTS Automotive Products has received an order for its Electronic Throttle Control (ETC) Accelerator Pedal Modules from a major German car manufacturer.
The pedals will be used on a new economical family car to be sold in Europe. First deliveries of these pedals will start in early 2011. Total sales from this order are expected to reach approximately $9 million over the eight-year life of the program.
Although the initial revenue from this order is not large, it has strategic significance, as this represents a new pedal customer for CTS and is the company's first pedal business order with a German automobile manufacturer, positioning CTS to grow its European business further.
Although the initial revenue from this order is not large, it has strategic significance, as this represents a new pedal customer for CTS and is the company's first pedal business order with a German automobile manufacturer, positioning CTS to grow its European business further.
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