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
Core Specialty Composites LLC will operate out of a manufacturing site in
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.
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.