Core Molding launching new subsidiary, new plant in Kentucky

COLUMBUS, OHIO (Aug. 22, 3:10 p.m. ET) — Composites molder Core Molding Technologies Inc. is launching a new business subsidiary to develop sales in new industries, with a new plant in Kentucky to produce parts for that group.

Core Specialty Composites LLC will operate out of a manufacturing site in Warsaw, Ky., with production expected to launch in early 2012, the company announced in an Aug. 22 news release. Columbus-based Core will also supplement production from its existing plant in Batavia, Ohio.

Mark Murfitt, Core's director of market development, will oversee the new business launch. He said in an Aug. 23 telephone interview that contract issues do not allow the company to disclose details of the business plan at this time. Core already makes parts for the commercial truck, marine and auto markets.

The Warsaw plant will employ 40 people and Core expects it will generate $5 million to $8 million in revenue annually.

Core Specialty Composites will use a variation on an existing process technology, Murfitt said. Core Molding already produces parts using sheet molding compounds, long fiber thermoplastics, vacuum resin transfer molding, bulk molding compounds, hand and spray layup of fiberglass and resin transfer molding.

Core is investing $1.7 million in equipment and technology at the plant and is currently building tooling for the operation.