Core Molding Technologies, a leading North American molder of fiberglass reinforced plastics and a compounder of custom sheet molding compound, announced it established a new operating subsidiary and manufacturing location to support a significant new business venture outside its traditional heavy truck customer base.
Core Molding has formed the subsidiary, Core Specialty Composites LLC, to manage the new business. Core Specialty Composites will operate out of a manufacturing site in Warsaw, Ky.
Core's existing plant in Batavia, Ohio, will provide additional management support to the Warsaw location, and the operation will be under the direction of Batavia plant manager Robert Brennan.
Operations initially will include the production of large-format parts using a customized fiberglass hand lamination process. Development and staffing activities are under way, and active production is planned to begin early next year. The Warsaw operation is expected to employ about 40 people. Revenue for the new business is projected to be $5 million to $8 million annually.
“We are excited about this expansion outside our traditional markets,” Core Molding Technologies president and CEO Kevin Barnett said in a statement. “For some time we have been focused on growing our business with industries beyond our traditional heavy truck accounts, and this is the latest of several successes in that regard.”