As CTS transitioned into the s, concerns over environmental pollution led to U. Government mandated automotive emissions control requirements. The need for throttle position sensing and exhaust gas recirculation controls immersed CTS into custom under-the-hood and chassis position sensor business, opening new market opportunities for the company.
The evolution of consumer electronic manufacturing drove many U. In , CTS established a manufacturing operation in Taiwan to serve the off-shore production facilities of North American based OEMs and counter low-cost Asian component manufacturing. The increased world presence helped CTS further expand product applications into international markets.
Quality, lower cost CTS quartz crystals are designed into new applications — color televisions. During the same time period, CTS, through acquisitions and internal development, expanded its product portfolio to include crystal filters, quartz oscillators, selector switches and loudspeakers, along with its expanding variable resistor business.
As demand in the electronics industry called for the miniaturization of electronic products, CTS responded by manufacturing hybrid microcircuits, designing more functionality into smaller packages, for applications as varied as heart pacers to missile guidance systems. By the beginning of the s, Chicago Telephone Supply Company had diversified into a manufacturer of many types of switches, variable resistors and a variety of other electronic components. Yet, the company had not produced a commercial telephone for over 20 years.
After decades of expanding into new markets with new technologies and product innovations, it became clear that the original name no longer fit the company. In , Chicago Telephone Supply Company officially changed its name to CTS Corporation to more accurately reflect its diverse product line offerings.
The timing was ideal. At the same time, costs were coming way down for satellite bandwidth, making shared computer networks more cost-effective. Mahadeva fell back on his McKinsey experience and concentrated on customer satisfaction and the building of long-term relationships.
Mahadeva also proved to be adept at keeping Cognizant ahead of trends. Early in , at a time when the Y2K business accounted for almost half of the company's revenues, he began to pull back Cognizant's exposure to the practice so that by the first quarter of Y2K work represented just 26 percent of revenues.
While other consultants were raking in fat fees, Mahadeva steered Cognizant toward the more pedestrian chores of maintaining corporate software systems--fixing kinks in the code or extending the life of existing applications by adding new functions.
The parent company, Cognizant Corporation, underwent some structural changes in early , dividing into two separate public companies as a way to help each unit maximize growth.
Cognizant Corporation and its remaining entities were renamed Nielsen Media Research. The timing proved to be less than ideal, as market conditions were poor for IPOs. He continued to display a creative and forward-looking mindset. The company also provided technology and products for commercial and military applications. In CTS engineers developed Cermet, a more stable resistance element that met the demand of miniaturized applications for military use. In the company officially changed its name to CTS Corporation, formally adopting the name by which is was generally known by the public.
The next year CTS entered the data processing market by adapting Cermet technology to produce thick film fixed resistor networks, which became common components of computers during the s. CTS met the demand for miniaturization of consumer electronic products by manufacturing hybrid mircocircuits.
This helped the company further expand its product applications in international markets. The company's broad technology base opened new markets, which in turn required CTS to develop complementary technologies involving new materials and manufacturing processes. In addition to military and automotive applications in the s and s, CTS was also supplying components for the consumer electronics market. At the beginning of the s CTS recorded dramatic sales increases to the home entertainment market, due in part to the explosive demand for color television sets.
As the decade progressed, however, imported TV sets began gaining market share at the expense of domestically produced sets.
Overwhelming competition from Japanese manufacturers eventually forced CTS to abandon the consumer electronics market by the end of the s. CTS began developing and redirecting its production focus to provide components and assemblies for custom under-the-hood and chassis sensor applications. In CTS opened a manufacturing facility in Singapore, primarily to remain competitive in supplying components for car radios.
CTS remained a well-established supplier of components for data processing, instruments and controls, and communications markets. The early s saw a two-year economic recession that hit U. By CTS had sustained significant losses in its floppy disk drive business and decided to divest Micro Peripherals. The suit also noted that the company's entry into the printed circuit board PCB business in late and early also resulted in quarterly losses.
Hostetler responsible for the 'ill-conceived' acquisitions. If successful, DCA would own Although DCA's tender offer was successful, an Indiana law governing hostile takeovers allowed CTS to refuse voting rights to stock acquired in a hostile takeover.
In a lawsuit that went all the way to the U. The horizontal unit focuses on various processes and technologies like BPO, Analytics, testing and mobile computing. The vertical unit focuses on manufacturing, retails, healthcare, banking and financial services etc. With its impressive plans, CTS Company went on to be the fastest growing companies in the new millennium and was declared a Fortune company in the year In , it was named as the 4 th best IT services company by Fortune Magazine.
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