CTS buys D&R Technology
Dec 27, 2012 (Menafn - TELECOMWORLDWIRE via COMTEX) --CTS Corp. CTS said it has acquired D&R Technology, a privately-held company with annual sales of approximately 50 million.
D&R is a leading manufacturer of custom designed sensors, switches and electromechanical assemblies primarily serving the automotive light-vehicle market. CTS acquired D&R for a cash purchase price of approximately 63.5 million. Management expects the transaction to be accretive to CTS' earnings in the first year.
The synergistic acquisition significantly expands CTS' strategic automotive sensor product platform with new customers and a broader product portfolio. The acquisition will also further diversify CTS' Components and Sensors segment and bring new growth opportunities from sensor applications for safety systems and vehicle chassis management. Additionally, D&R brings strong sensor design and development engineering capabilities to complement CTS' world-class engineering team.
D&R, founded in 1998, operates Lean Manufacturing facilities in Carol Stream, Illinois and Juarez, Mexico, with approximately 400 employees. D&R specializes in building advanced technology products that provide industry-leading and application-specific solutions. Key products include non-contacting chassis height position sensors, seat belt tension sensors, seat belt buckle switches and anti-lock braking system wheel speed sensors. Newer products currently growing include seat track position sensors and current sensors for electric and hybrid vehicles. D&R has been widely recognized by customers for quality performance, including Flawless Launch Awards.
CTS is a leading designer and manufacturer of electronic components and sensors and a provider of electronics manufacturing services to OEMs in the automotive, communications, medical, defense and aerospace, industrial and computer markets. To find out more, visit the CTS Web site at www.ctscorp.com.
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