Core Molding Technologies Inc., a Columbus, Ohio-based plastics molding company, has announced plans to establish a new subsidiary and manufacturing plant in Warsaw, Ky., that will support a new business venture for the company.
“For some time, we have been focused on growing our business with industries beyond our traditional heavy truck accounts, and this is the latest of several successes in that regard,” said Kevin Barnett, president and CEO of Core Molding Technologies.
Products produced by Core are used in a variety of industries, including medium and heavy-duty trucks, automobiles, personal watercraft and other commercial products.
The newly formed subsidiary, Core Specialty Composites, will manage the new business, which will occupy 62,000 s.f. of leased manufacturing space in Gallatin County. The plant will initially produce large-scale, fiber-reinforced composite parts.
Core’s plant in Batavia, Ohio, will provide additional management support to the Warsaw location under the direction Batavia Plant Manager Bob Brennan.
Core plans to hire 39 people for the Warsaw plant, which is expected to be operational by early 2012. Revenue for the new business is projected to be $5 to $8 million annually.