COLUMBUS, Ohio – April 1, 2014 – 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 the “Supplier of the Year” award for 2013 by Yamaha Motor Manufacturing Corporation of America (YMMC) of Newnan, Ga.
YMMC presented the award during its bi-annual Supplier conference in late February. “For 2013, we feel Core’s performance in reliable development and supply of material and molded product quality and delivery was exceptional. It is our pleasure to recognize Core as our ‘Supplier of the Year,’” commented Wayne Pierce, Division Manager-Purchasing for YMMC. Core was recognized for concluding 2013 with zero product defects, no customer complaints and 100% on-time delivery.
Core supplies a variety of products to YMMC from its plants in Columbus, Ohio, and Gaffney, S. C. “Core is honored to receive such a prestigious award from one of our key customers,” said Steve Klestinec, Vice President and Chief Operating Officer for Core Molding Technologies. “This award reinforces that our continued focus on quality, delivery, and customer satisfaction is being recognized within the industry,” Klestinec said. Core’s standard and reduced-density Featherlite® SMC materials and molded products are used on assemblies that support the personal watercraft business at YMMC. The two organizations have a business relationship that spans over 20 years.
ABOUT YAMAHA MOTOR MANUFACTURING CORPORATION OF AMERICA
Yamaha Motor Manufacturing Corporation of America (YMMC), a wholly owned subsidiary of Yamaha Motor Corporation, U.S.A., is a top manufacturer of recreational vehicles including Golf Carts, All Terrain Vehicles, Personal Watercraft and Side by Side utility vehicles. YMMC employs over one thousand people and operates two manufacturing facilities. YMMC is located south of Atlanta in Newnan, Georgia. Additional information about YMMC can be found at http://www.yamaha-motor.com.
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 2013 Annual Report to Shareholders on Form 10-K.