Core Molding Technologies Publishes Its 2nd Annual Sustainability Report
April 29 2024 - 8:00AM
Core Molding Technologies, Inc. (NYSE
American: CMT) (“Core Molding,” “Core” or the “Company”), a
leading engineered materials company specializing in molded
structural products, principally in building products, industrial
and utilities, medium and heavy-duty truck and powersports
industries across the United States, Canada, and Mexico today
announced the release of its second annual Sustainability Report,
which focuses on its Environmental, Social, and Governance (ESG)
approach and strategies.
Dave Duvall, the Company’s President, and Chief
Executive Officer, commented, “We are excited to publish our second
annual Sustainability Report to show our team's progress since last
year. This report highlights our accomplishments in 2023 and
progress on our important 30 X 30 targets to reduce Core’s energy
consumption, greenhouse gas emissions, and landfill waste by 30% by
the end of our fiscal 2030.”
“As an organization, we are steadfast in our
commitment to further advance our environmental stewardship,
diversity & inclusion, and corporate governance. These
commitments benefit not only the Company, our employees, and the
communities we serve, but also reduce risk to our business and
promote long-term shareholder value,” reiterated Duvall.
Core’s Sustainability Leader, Roberto Cervantes,
stated, “We are dedicated to meaningful progress toward our 30 X 30
programs and making significant advances across all high
materiality areas. Notably, we have improved GHG Scope 1,
Electricity Usage, and Waste Management KPIs, a testament to the
intensive efforts from the Core Molding team and unwavering support
from the Board and leadership.”
To access the CMT Sustainability Report, please
visit https://coremt.com/sustainability/.
About Core Molding Technologies, Inc.
Core Molding Technologies is a leading
engineered materials company specializing in molded structural
products, principally in building products, utilities,
transportation and powersports industries across North America. The
Company operates in one operating segment as a molder of
thermoplastic and thermoset structural products. The Company’s
operating segment consists of one reporting unit, Core Molding
Technologies. The Company offers customers a wide range of
manufacturing processes to fit various program volume and
investment requirements. These thermoset processes include
compression molding of sheet molding compound (“SMC”), resin
transfer molding (“RTM”), liquid molding of dicyclopentadiene
(“DCPD”), spray-up and hand-lay-up. The thermoplastic processes
include direct long-fiber thermoplastics (“DLFT”) and structural
foam and structural web injection molding. 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’ operations may change proportionately more than
revenues from operations. For more information, please refer to the
Company’s website at www.coremt.com.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the federal securities laws that
are subject to risks and uncertainties. These statements often
include words such as “believe”, “anticipate”, “plan”, “expect”,
“intend”, “will”, “should”, “could”, “would”, “project”,
“continue”, “likely”, and similar expressions. In particular, this
press release may contain forward-looking statements about the
Company’s expectations for future periods with respect to its plans
to improve financial results and the future of the Company’s end
markets. Factors that could cause actual results to differ from
those reflected in forward-looking statements relating to our
operations and business include: general macroeconomic, social,
regulatory and political conditions, including uncertainties
surrounding volatility in financial markets; the short-term and
long-term impact of the coronavirus (COVID-19) pandemic, or other
pandemics in the future, on our business; changes in the plastics,
transportation, marine and commercial product industries; efforts
of the Company to expand its customer base and develop new products
to diversify markets, materials and processes and increase
operational enhancements; the Company’s initiatives to quote and
execute manufacturing processes for new business, acquire raw
materials, address inflationary pressures, regulatory matters and
labor relations; and the Company’s financial position or other
financial information. These statements are based on certain
assumptions that the Company has made in light of its experience as
well as its perspective on historical trends, current conditions,
expected future developments and other factors it believes are
appropriate under the circumstances. Actual results may differ
materially from the anticipated results because of certain risks
and uncertainties, including those included in the Company’s
filings with the SEC. There can be no assurance that statements
made in this press release relating to future events will be
achieved. The Company undertakes no obligation to update or revise
forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating
results over time. All subsequent written and oral forward-looking
statements attributable to the Company or persons acting on behalf
of the Company are expressly qualified in their entirety by such
cautionary statements.
Company Contact:
Core Molding Technologies, Inc.John
ZimmerExecutive Vice President & Chief Financial
Officerjzimmer@coremt.com
Investor Relations Contact:
Three Part Advisors, LLCSandy Martin or Steven
Hooser214-616-2207
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