CTS Corp
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Information Technology : Electronic Equipment, Instruments & Components | Small Cap Blend
Company profile

CTS Corporation is a global manufacturer of sensors, connectivity components, and actuators. The Company designs, manufactures, and sells a line of sensors, connectivity components, and actuators primarily to original equipment manufacturers (OEMs) and supplies for the aerospace and defense, industrial, information technology, medical, telecommunications, and transportation markets. It operates manufacturing facilities located throughout North America, Asia and Europe and serves various markets globally. The Company’s products consist principally of sensors and actuators used in passenger or commercial vehicles, connectivity components used in telecommunications infrastructure, information technology and other high-speed applications, switches, temperature sensors, and potentiometers supplied to multiple markets, and fabricated piezoelectric materials and substrates used primarily in medical, industrial, aerospace and defense, and information technology markets.

Postmarket

Last Trade
Delayed
$0.00
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$42.66
Day's Change
0.36 (0.85%)
Bid
--
Ask
--
B/A Size
--
Day's High
42.84
Day's Low
41.86
Volume
(Average)
Volume:
148,829

10-day average volume:
140,895
148,829

CTS Completes Ferroperm Piezoceramics Acquisition

4:30 pm ET June 30, 2022 (Globe Newswire) Print

EQNX::TICKER_START (NYSE:CTS),(LSE:MGGT), EQNX::TICKER_END Today CTS Corporation (NYSE: CTS) completed the previously announced acquisition of Ferroperm Piezoceramics from Meggitt PLC (LSE: MGGT) for 525 million Danish Krone in cash, subject to usual net debt and working capital adjustments and other terms and conditions of the Definitive Share Purchase Agreement.

Founded in 1952, Ferroperm specializes in the design and manufacture of high performance piezoceramic components for use in complex and demanding medical, industrial, and aerospace applications. The company is recognized for its high quality and innovative piezoceramic technology. Based in Kvistgaard, Denmark, Ferroperm has established a strong customer base across Europe and North America.

"We are pleased to welcome the Ferroperm team to CTS," said Kieran O'Sullivan, CEO of CTS Corporation. "The completion of this acquisition represents another step forward in our diversification strategy. Ferroperm's presence in Europe and experience in medical therapeutic markets complement our capabilities. We look forward to leveraging the technical expertise of both teams to enhance our product offering and accelerate growth. We expect the acquisition to be accretive in 2023."

CTS (NYSE: CTS) is a leading designer and manufacturer of products that Sense, Connect, and Move. The company manufactures sensors, actuators, and electronic components in North America, Europe, and Asia, and provides engineered products to customers in the aerospace/defense, industrial, medical, and transportation markets.

For more information on CTS Corporation, please visit www.ctscorp.com.

Investor Relations Contact

Ashish Agrawal

Chief Financial Officer

CTS Corporation

4925 Indiana Avenue

Lisle, IL 60532

E-mail: MediaRelations@ctscorp.com

Tel.: +1 (630) 577-8814

https://ml.globenewswire.com/media/99acc03d-41de-4a0a-ae9c-042acd63803a/small/cts-logo-rgb-jpg.jpg

https://ml.globenewswire.com/media/99acc03d-41de-4a0a-ae9c-042acd63803a/small/cts-logo-rgb-jpg.jpg

comtex tracking

COMTEX_409495983/2010/2022-06-30T16:30:00

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