Core Molding Technologies, Inc. (NYSE MKT:CMT) (“Core Molding”
or the “Company”) is set to join the broad-market Russell 3000®
Index at the conclusion of the Russell indexes’ annual
reconstitution, effective after the US market opens on June
26th.
Annual reconstitution of the Russell US indexes captures the
4,000 largest US stocks as of the end of May, ranking them by total
market capitalization. Membership in the US all-cap Russell 3000®
Index, which remains in place for one year, means automatic
inclusion in the large-cap Russell 1000® Index or small-cap
Russell 2000® Index as well as the appropriate growth and value
style indexes. FTSE Russell determines membership for its Russell
indexes by objective, market-capitalization rankings and style
attributes.
“We are extremely pleased to be added to the Russell 3000® Index
to raise Core Molding Technologies’ profile and visibility within
the investment community,” said Kevin Barnett, President and Chief
Executive Officer. “We look forward to the opportunity to
articulate the Core story to a broader shareholder base.”
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $8.4 trillion in assets
are benchmarked against Russell’s US indexes. Russell indexes are
part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell
US Indexes reconstitution, go to the “Russell Reconstitution”
section on the FTSE Russell website.
About Core Molding Technologies,
Inc.
Core Molding Technologies, Inc. is a manufacturer of sheet
molding compound (SMC) and molder of fiberglass reinforced
thermoset and thermoplastic materials. Core specializes in
large-format moldings and offers a wide range of fiberglass
processes, including compression molding of SMC, glass mat
thermoplastics (GMT) and bulk molding compounds (BMC); compression
and transfer molding of direct long-fiber thermoplastics (D-LFT);
spray-up, lay-up, resin transfer (RTM) and vacuum resin transfer
molding (V-RTM). Additionally, the company offers reaction
injection molding (RIM) of dicyclopentadiene (DCPD). Core serves a
wide variety of markets, including the medium and heavy-duty truck,
marine, automotive, agriculture, construction and other commercial
products markets. Headquartered in Columbus, Ohio, Core maintains
plants in Columbus and Batavia, Ohio; Gaffney, South Carolina;
Winona, Minnesota; and Matamoros, Mexico. For further information,
visit the company's website at www.coremt.com.
About FTSE Russell:
FTSE Russell is a leading global index provider creating and
managing a wide range of indexes, data and analytic solutions to
meet client needs across asset classes, style and strategies.
Covering 98% of the investable market, FTSE Russell indexes offer a
true picture of global markets, combined with the specialist
knowledge gained from developing local benchmarks around the
world.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately $12.5
trillion is currently benchmarked to FTSE Russell indexes. For over
30 years, leading asset owners, asset managers, ETF providers and
investment banks have chosen FTSE Russell indexes to benchmark
their investment performance and create investment funds, ETFs,
structured products and index-based derivatives. FTSE Russell
indexes also provide clients with tools for asset allocation,
investment strategy analysis and risk management.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on index innovation and customer
partnership applying the highest industry standards and embracing
the IOSCO Principles. FTSE Russell is wholly owned by London Stock
Exchange Group.
This press release may contain certain forward-looking
statements within the meaning of the federal securities laws. As a
general matter, forward-looking statements are those focused upon
future plans, objectives or performance as opposed to historical
items and include statements of anticipated events or trends and
expectations and beliefs relating to matters not historical in
nature. Such forward-looking statements involve known and unknown
risks and are subject to uncertainties and factors relating to Core
Molding Technologies' operations and business environment, all of
which are difficult to predict and many of which are beyond Core
Molding Technologies' control. Words such as “may,” “will,”
“could,” “would,” “should,” “anticipate,” “predict,” “potential,”
“continue,” “expect,” “intend,” “plans,” “projects,” “believes,”
“estimates,” “confident” and similar expressions are used to
identify these forward-looking statements. These uncertainties and
factors could cause Core Molding Technologies' actual results to
differ materially from those matters expressed in or implied by
such forward-looking statements. Except as required by law, Core
Molding Technologies Inc. undertakes no obligation to update these
forward looking statements.
Core Molding Technologies believes that the following factors,
among others, could affect its future performance and cause actual
results to differ materially from those expressed or implied by
forward-looking statements made in this report: business conditions
in the plastics, transportation, marine and commercial product
industries (including slowdown in demand for truck production);
federal and state regulations (including engine emission
regulations); general economic, social, regulatory (including
foreign trade policy) and political environments in the countries
in which Core Molding Technologies operates; safety and security
conditions in Mexico; dependence upon certain major customers as
the primary source of Core Molding Technologies’ sales revenues;
efforts of Core Molding Technologies to expand its customer base;
the ability to develop new and innovative products and to diversify
markets, materials and processes and increase operational
enhancements; the actions of competitors, customers, and suppliers;
failure of Core Molding Technologies’ suppliers to perform their
obligations; the availability of raw materials; inflationary
pressures; new technologies; regulatory matters; labor relations;
the loss or inability of Core Molding Technologies to attract and
retain key personnel; the Company's ability to successfully
identify, evaluate and manage potential acquisitions and to benefit
from and properly integrate any completed acquisitions; federal,
state and local environmental laws and regulations; the
availability of capital; the ability of Core Molding Technologies
to provide on-time delivery to customers, which may require
additional shipping expenses to ensure on-time delivery or
otherwise result in late fees; risk of cancellation or rescheduling
of orders; management’s decision to pursue new products or
businesses which involve additional costs, risks or capital
expenditures; inadequate insurance coverage to protect against
potential hazards; equipment and machinery failure; product
liability and warranty claims; and other risks identified from time
to time in Core Molding Technologies’ other public documents on
file with the Securities and Exchange Commission, including those
described in Item 1A of the 2016 Annual Report on Form 10-K.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170626005101/en/
Company:Core Molding Technologies, Inc.John Zimmer,
614-870-5604Vice President & Chief Financial
Officerjzimmer@coremt.comorInvestor Relations:The Equity
Group Inc.Fred Buonocore,
212-836-9607fbuonocore@equityny.comorKevin Towle,
212-836-9620ktowle@equityny.com
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