Core Molding Technologies Inc. has formed a new subsidiary with its own manufacturing site to support business outside its traditional heavy truck customer base. The Columbus, OH headquartered fiberglass reinforced plastics manufacturer and compounder of custom sheet molding compound (SMC) has launched Core Specialty Composites LLC in Warsaw, KY, with 62,000-sq-ft of leased manufacturing space.
Operations initially will include production of large-format parts using a customized fiberglass hand-lamination process. Staffing is underway, with active production planned to begin in early 2012. Fully staffed, Core Molding believes its Warsaw operation will employ approximately 40 people, with annual revenue for the new business projected to be $5 to $8 million....