COLUMBUS, Ohio, Sept. 16, 2013 /PRNewswire/ -- Core Molding Technologies, Inc. (NYSE MKT: CMT), a leading North American compounder of custom sheet molding compound (SMC) and molder of fiberglass reinforced plastics, today announced it was presented a "Supplier of the Year" award for 2012 by Kautex Textron GmbH & Co. KG., one of its automotive customers.
Kautex presented the award during its annual Supplier Days conference in June. "Core has been a reliable supplier to Kautex for several years," commented Philip D. Irving, Vice President Integrated Supply Chain for Kautex. "For 2012, we feel Core's performance was distinctive and worthy of recognition as one of our top three North American suppliers," he continued.
Core supplies a variety of underbody shield products to several Kautex plants in the U.S. and Mexico, from its plants in Matamoros, Mexico, Columbus, and Gaffney, S.C. "We are very pleased to receive this award from a key customer who is a Tier 1 supplier to automotive OEMs," said Terry O'Donovan, Vice President, Marketing and Sales for Core Molding Technologies. "Over the last five years, we have increased our focus on the automotive market, and to achieve this recognition from a global automotive customer is evidence of our ability to provide value to this demanding industry." Core products are used on assemblies that Kautex ships to automotive plants throughout North America.
ABOUT KAUTEX TEXTRON GMBH & CO. KGKautex Textron GmbH & Co. KG is one of the 100 largest global automotive suppliers and is the market leader in four of its six product lines, which include fuel systems, selective catalytic reduction (SCR) systems, CWC Camshafts and "clear vision" systems. A division of Textron (NYSE: TXT), Kautex is headquartered in Bonn Holzlar, Germany, employs approximately 5,400 people and recorded 2012 sales of approximately $1.84 Billion USD. ABOUT CORE MOLDING TECHNOLOGIES, INC. Core Molding Technologies, Inc. is a manufacturer of sheet molding compound (SMC) and molder of fiberglass reinforced plastics. 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); spray-up, lay-up, resin transfer (RTM) and vacuum resin transfer molding (V-RTM). Additionally, the company offers liquid molding 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. Headquartered in Columbus, Ohio, Core maintains plants in Columbus and Batavia, Ohio; Gaffney, South Carolina and Matamoros, Mexico. For further information, visit the company's website at www.coremt.com. This press release contains 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. 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; federal and state regulations (including engine emission regulations); general economic, social 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 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; 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; 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 2012 Annual Report to Shareholders on Form 10-K. SOURCE Core Molding Technologies, Inc.