Core Molding investing $12.5 million for Volvo work

By Rhoda Miel
News Editor

Published: March 21, 2013 1:19 pm ET
Updated: March 21, 2013 1:21 pm ET

Related to this story

Topics Automotive, Automotive/transportation, Composites

COLUMBUS, OHIO — Core Molding Technologies Inc. plans to invest $12.5 million in capital equipment at its North American facilities to allow it to meet a new contract with a commercial truck maker.

Core, based in Columbus, Ohio, said in a March 21 news release that the new business from Volvo Group North America LLC is worth $26 million to $30 million in new production annually. Manufacturing will ramp up by the end of this year.

Core is a maker of sheet molding compound and fiberglass reinforced plastics, specializing in large parts using compression molding, vacuum resin transfer molding, resin transfer molding and other production. The Volvo contract will cover production of hoods, roofs and other key parts.

The company also expects to hire 140 people as part of its production increase.

It is currently evaluating its existing facilities to determine how it will deploy the new business and new capital. It has plants in Columbus and Batavia, Ohio, Gaffney, S.C. and Matamoros, Mexico.


Comments

Core Molding investing $12.5 million for Volvo work

By Rhoda Miel
News Editor

Published: March 21, 2013 1:19 pm ET
Updated: March 21, 2013 1:21 pm ET

Post Your Comments


Back to story


More stories

Image

Fiat Chrysler drops Chrysler Group name in favor of FCA US

December 16, 2014 9:05 am ET

Chrysler is Chrysler no more. Fiat Chrysler Automobiles, the Netherlands-based parent company of what was Chrysler Group LLC, said today that it has...    More

Izo-Blok opens Polish car part plant

December 15, 2014 9:16 am ET

Poland's plastic car parts maker Izo-Blok has launched its new production facility in Chorzˇw, in Poland's southern region of Silesia.    More

Image

Automotive supplier IAC expands in Alabama

December 12, 2014 12:34 pm ET

Automotive giant International Automotive Components has expanded its Alabama operations with a new 126,000-square-foot facility located adjacent to...    More

Image

Suppliers hit back against automakers' cost-cut demands

December 12, 2014 11:22 am ET

Relations between automakers and suppliers are deteriorating largely because of intensifying cost-cutting demands, according to a report. Vehicle...    More

Image

Lacks Enterprises names new president

December 11, 2014 12:39 pm ET

Tier 1 automotive supplier Lacks Enterprises Inc. has named Nick Hrnyak as its new president.    More

Market Reports

Flexible Packaging Trends in North America

Our latest RESEARCH report examines trends in FLEXIBLE PACKAGING impacting the North American market including a review of economic conditions, key drivers of growth, materials pricing, M&A activity, sustainability challenges and the outlook for 2015.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events