COLUMBUS, Ohio, Sept. 21, 2020 /PRNewswire/ -- Core Molding
Technologies, Inc. (NYSE American: CMT) announced today that
Sandra L. Kowaleski has been elected
to its Board of Directors. Ms. Kowaleski is the global operations
leader with Momentive Performance Materials Quartz, Inc., a global
leader in advanced quartz and ceramic materials serving the
semiconductor, aerospace, defense, electronics, fiber optics, and
transportation industries. In this role, she leads global
operations with locations in North
America, Germany,
China and Japan.
Ms. Kowaleski has developed a broad global experience throughout
her career, in implementing world-class progressive strategies,
leading turnaround efforts, and strengthening financial results in
multi-site, multi-national businesses. Prior to Momentive
Performance Materials Quartz, Inc., Ms. Kowaleski served in
leadership roles with BASF, Minerals Technologies and
GenCorp/OMNOVA Solutions Inc. Ms. Kowaleski earned a Bachelor of
Science in Chemical Engineering from The Ohio
State University.
"We are excited to have Sandy join the Board and look forward to
her contributions to the Company. Sandy's extensive global
manufacturing operations experience, background in the material and
chemical space and vast industry experience will bring additional
depth and knowledge to support the Company's operational
initiatives and strategic growth," said Thomas R. Cellitti, Chairman of the Board of
Core Molding Technologies, Inc.
About Core Molding Technologies, Inc.
Core Molding
Technologies and its subsidiaries operate in the composites market
as one operating segment as a molder of thermoplastic and
thermoset structural products. The Company's operating segment
consists of two component reporting units, Core Traditional and
Horizon Plastics. The Company offers customers a wide range of
manufacturing processes to fit various program volume and
investment requirements. These processes include compression
molding of sheet molding compound ("SMC"), bulk molding compounds
("BMC"), resin transfer molding ("RTM"), liquid molding of
dicyclopentadiene ("DCPD"), spray-up and hand-lay-up, glass mat
thermoplastics ("GMT"), direct long-fiber thermoplastics ("D-LFT")
and structural foam and structural web injection molding ("SIM").
Core Molding Technologies serves a wide variety of markets,
including the medium and heavy-duty truck, marine, automotive,
agriculture, construction, and other commercial products. The
demand for Core Molding Technologies' products is affected by
economic conditions in the United
States, Mexico, and
Canada. Core Molding Technologies'
manufacturing operations have a significant fixed cost component.
Accordingly, during periods of changing demand, the profitability
of Core Molding Technologies' operations may change proportionately
more than revenues from operations.
This press release may contain 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," "encouraged," "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.
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 changes 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; the adverse
impact of coronavirus (COVID-19) global pandemic on our business,
results of operations, financial position, liquidity or cash flow,
as well as impact on customers and supply chains; safety and
security conditions in Mexico and
Canada; 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; labor availability; 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 and other customer
charges; 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 Annual Report on Form 10-K for the year ended December 31, 2019.
Company Contact:
John Zimmer
Executive Vice President & Chief Financial Officer
614-870-5604
jzimmer@coremt.com
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SOURCE Core Molding Technologies, Inc.