CTS Signs 4-Year Supply Agreement for HDD Piezoceramic Micro Actuators

CTS Corporation, in the design and manufacture of electronic components, announced the signing of a four-year supply agreement with a piezoceramic HDD customer.

This customer provides the disk drive arm incorporating CTS’ patented piezoceramic product for the primary global supplier of the HDD.

Estimated sales from this agreement are expected to be in the range of $50 to $60 million over the next four-years with production at its Tianjin, China facility. CTS is currently ramping this new business, although some sales were delayed as a result of the floods in Thailand late last year and into this year.

Vinod M. Khilnani, CTS chairman and CEO, stated: "We are very pleased to secure this long-term agreement. After several years of design, development and testing, we have started shipments of the piezoceramic components. We expect sales from this new product to contribute to annual double-digit growth in our fast growing Components and Sensors segment."