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

Automakers look under the hood for the next lightweighting opportunities

August 20, 2014 1:06 pm ET

The automotive industry's current favorite target for lightweighting efforts is the powertrain, according to a recent survey.    More

Image

Cooper-Standard JV to focus on Asia

August 20, 2014 10:17 am ET

Cooper Standard Automotive Inc. is forming Cooper Standard Inoac Pte. Ltd. — a joint venture with Inoac Corp. of Japan — to expand the...    More

Image

Ohio molder sold to private equity firm

August 19, 2014 5:23 pm ET

Private equity firm TVV Capital of Nashville has acquired injection molder Design Molded Plastics Inc. for an undisclosed price.    More

Image

Germany's Bolta building $50 million plating plant in Alabama

August 19, 2014 2:21 pm ET

A German company is setting up a plastics chrome plating plant in Tuscaloosa, Ala.    More

Image

Soaring business leads to growth for Composites Horizons

August 19, 2014 1:56 pm ET

Composites Horizons LLC is investing $12 million in new equipment and processes, in part for ceramic matrix composite production in its fourth buildin...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

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

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

More Events