Core Molding Technologies' Featherlite® SMC Production Reaches 10,000,000 lbs; Next Generation Product Released
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COLUMBUS, Ohio, -- 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 that production of its proprietary low-density Featherlite® SMC has reached 10,000,000 pounds, a milestone for a reduced density SMC material. The success of this product has prompted a second-generation advancement to be developed, also released today, which the company is branding FeatherliteXL(TM) SMC.
"In little more than two years, we have seen our innovative, low-density Featherlite® SMC progress from the laboratory, to solid commercial acceptance, to rapidly reaching this production milestone," said Terry O'Donovan, Vice President, Marketing and Sales for Core Molding Technologies. "The Featherlite® material system blends good mechanical performance with high surface quality, all in a density package that, at 1.43 sp.gr., is 25 percent lower than standard SMC formulations," he added.
Featherlite® SMC is in active use in the automotive, heavy truck and personal watercraft markets.
Capitalizing on the knowledge gained from the company's recently-announced Airilite(TM) SMC development, Core has reformulated its Featherlite® system into a second-generation product. The new FeatherliteXL(TM) SMC offers the same density and mechanical strength as its predecessor material. However, Core has been able to improve the resin-to-glass strength of the system, by adopting technology developed with the Airilite(TM) SMC research. The company expects many of its current Featherlite® applications will adopt the new FeatherliteXL(TM) improvements.
All three low-density material systems are intended for use primarily by Core in products the company molds for its customers, and in limited circumstances, as raw SMC sold to external molders. Test plaques are available to qualified customers.
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.
CONTACT: Mark Murfitt, (614) 675-2070
