COLUMBUS, OHIO — Core Materials Corp. of Columbus plans to invest $13 million to buy and equip a 102,400-square-foot facility on about 21 acres in Gaffney, S.C.
The public company, a compounder and compression molder of sheet molding compounds, said it will add 100 people and seven molding machines at the facility, which will be its second. Core now employs about 430.
Chief Financial Officer Kevin Barnett said Core is using 80 percent of its capacity in Columbus, and hopes the expansion will help it win new customers.
Core manufactures body parts for trucks. Its main customers include Navistar International Transportation Corp. and Yamaha Motor Corp. In January, Core was spun off from Navistar.
Core anticipates molding and assembly operations beginning by early 1998. The facility is designed so it can be expanded by 100,000 square feet, Barnett said.
Core has annual sales of about $60 million, he said.