-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DApcyAakjBOwaGNOObup1V3/wHQW3SwI2OzrkSxVvvY9ogZySL/6v3T4WayiNr16 x2CdnS1oo7dGksGb6M3L2g== 0000026058-06-000003.txt : 20060106 0000026058-06-000003.hdr.sgml : 20060106 20060106132735 ACCESSION NUMBER: 0000026058-06-000003 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060106 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060106 DATE AS OF CHANGE: 20060106 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CTS CORP CENTRAL INDEX KEY: 0000026058 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPONENTS & ACCESSORIES [3670] IRS NUMBER: 350225010 STATE OF INCORPORATION: IN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04639 FILM NUMBER: 06515796 BUSINESS ADDRESS: STREET 1: 905 WEST BOULEVARD NORTH CITY: ELKHART STATE: IN ZIP: 46514 BUSINESS PHONE: 5742937511 MAIL ADDRESS: STREET 1: 905 W BLVD NORTH CITY: ELKHART STATE: IN ZIP: 46514 8-K 1 form8-k.htm CTS CORPORATION 8-K 1-05-2006 CTS Corporation 8-K 1-05-2006


 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

 
 
FORM 8-K
 

 

 
Current Report
 
Pursuant to Section 13 or 15(d) of the
 
Securities Exchange Act of 1934
 

 

 
 Date of Report (Date of Earliest Event Reported): January 6, 2006
 

 

 
CTS CORPORATION
 
(Exact Name of Registrant as Specified in Its Charter)
 
 
 
 
Indiana
 
1-4639
 
35-0225010
 
(State or Other Jurisdiction of Incorporation)
 
(Commission File Numbers)
 
(I.R.S. Employer Identification Nos.)
 
905 West Boulevard North
    
Elkhart, Indiana
  
46514
(Address of Principal Executive Offices)
 
  
(Zip Code)
 
Registrants' Telephone Number, Including Area Code:                   (574) 293-7511
 
 
(Former Name or Former Address, if Changed Since Last Report)
 
 
Check the appropriate box below if the form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
q  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
q  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
q  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
q  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

 
Item 7.01 Regulation FD Disclosure.
 
On January 6, 2006, CTS Corporation issued a press release announcing that it will consolidate manufacturing operations at its Berne, Indiana facility into three of its other existing facilities before the end of the year. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
 

 
Item 9.01 Financial Statements and Exhibits.
 

(a)
 
Financial Statements of Business Acquired.
Not applicable.
 
(b)  
 
Pro Forma Financial Information.
Not applicable.
 
(c)  
 
Exhibits.
 
 
The following exhibits are filed with this report:
 
 
Exhibit No.
Exhibit Description
 
 
Press Release dated January 6, 2006
 

 

 



 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 

 
                                        CTS CORPORATION


                          /s/ Richard G. Cutter
                          By:  Richard G. Cutter
                       Vice President, Secretary
                       and General Counsel

 
Date: January 6, 2006
 


EXHIBIT INDEX
 

 

Exhibit No.
 
Exhibit Description
 
99.1
 
Press Release dated January 6, 2006
 

 

 
 EX-99.1 CHARTER 2 ex99_1.htm EXHIBIT 99.1 PRESS RELEASE DATED 1-6-06 Exhibit 99.1 Press Release dated 1-6-06


 

newsrelease
CTS CORPORATION Elkhart, Indiana 46514 (574) 293-7511
 
 
 
January 6, 2006


FOR RELEASE: Immediately


CTS ANNOUNCES PLANS FOR CONSOLIDATION OF
BERNE, INDIANA OPERATIONS


Elkhart, IN…CTS Corporation (NYSE: CTS) today announced that it intends to consolidate its Berne, Indiana manufacturing operations into three of its other existing facilities. The consolidation process is expected to largely be completed in the second half of 2006.

Automotive product operations at Berne will be transferred to CTS’ automotive facilities in Matamoros, Mexico and Elkhart, Indiana. Electronic components operations in Berne will be moved to CTS’ Singapore facility. Some electronic component related service functions are expected to remain in Berne.
 
The planned consolidation will result in an estimated pre-tax restructuring charge and related costs of approximately $4.5 million to $5 million. Of this amount, approximately $3 million is expected to be taken in the first quarter and $1.5 million in the second quarter of 2006. The remainder will be recorded over the rest of the year. Breakeven on the consolidation is expected in about one year, with annualized pre-tax savings projected to be in the range of $4.5 million to $5.5 million. Pre-tax savings are expected to begin in the third quarter of 2006 and to be in the range of $1.5 million to $2.0 million for the second half of the year.

About CTS
CTS is a leading designer and manufacturer of electronic components and sensors and a provider of electronics manufacturing services (EMS) to OEMs in the automotive, computer, communications, medical and industrial markets. CTS manufactures products in North America, Europe and Asia. CTS' stock is traded on the NYSE under the ticker symbol "CTS.” To find out more, visit the CTS Web site at www.ctscorp.com.


Safe Harbor Statement
This press release contains certain statements that are, or may be deemed to be, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, any financial or other guidance, and all statements that are not based on historical fact, but rather reflect our current expectations concerning future results and events. We make certain assumptions when making forward-looking statements, any of which could prove inaccurate, including, but not limited to, statements about our future operating results and business plans. The ultimate correctness of these forward-looking statements is dependent upon a number of known and unknown risks and events, and is subject to various uncertainties and other factors that may cause our actual results, performance, or achievements to be different from any future results, performance, or achievements expressed or implied by these statements.
 
For more detailed information on the risks and uncertainties associated with CTS' business activities, see our reports filed with the SEC. CTS undertakes no obligation to publicly update its forward-looking statements, whether as a result of market or industry changes, new information or future events.

Contact:
  
Vinod M. Khilnani, Senior Vice President and Chief Financial Officer, or
   
Mitchell J. Walorski, Director of Investor Relations
   
CTS Corporation, 905 West Boulevard North, Elkhart, IN 46514
   
Telephone (574) 293-7511 FAX (574) 293-6146
 
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