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Core Molding Technologies plans to expand its Columbus manufacturing operation to support two new programs for existing customers. These programs, in the heavy-duty truck market are scheduled for launch in 2007.
“”These new programs are the result of our ability to better meet the needs of our customers,”” said James L. Simonton, president and chief executive officer. “”We are proud of the efforts and commitment of our employees to win these new programs and we are pleased to be successful in a competitive manufacturing environment.””
Annual revenue from these programs is anticipated to ramp up to approximately $15 million by 2009. Core’s expansion plans include a $4.6 million investment in machinery, equipment and building modifications. These plans are contingent upon final approval of state and local incentives. The new programs are projected to add up to 80 new employees by 2009.
Core Molding Technologies, Inc. is a compounder of sheet molding composites (SMC) and molder of fiberglass reinforced plastics. The Company’s processing capabilities include the compression molding of SMC, resin transfer molding, multiple insert tooling (MIT) resin transfer molding, spray up and hand lay up processes.
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