Core Molding Technologies, Inc.

Business overview

• Operates in the engineered materials market as a single operating segment, primarily molding thermoplastic and thermoset structural products.
• Produces molded components for medium and heavy-duty trucks, powersports, building products, and other industrial markets.
• Headquarters: Columbus, Ohio. Six production facilities across the United States, Canada, and Mexico.
• Core capabilities span a range of molding processes and assembly/finishing options, with a focus on structural plastics that offer advantages over metals: heat and corrosion resistance, lighter weight, lower cost, design flexibility, part consolidation, lower tooling costs for low-volume work, high strength-to-weight, and dent resistance.

Key products and processes

• Sheet Molding Compound (SMC) and compression molding for high-strength, durable parts; includes vacuum-assisted molding and in-mold coating (IMC) for improved surface quality and conductivity.
• Direct Long Fiber Thermoplastic (DLFT) compression molding for thermoplastic materials reinforced with long fibers (e.g., glass fiber).
• Vacuum Resin Transfer Molding (RTM) for fiberglass-reinforced parts with high-quality surfaces.
• Structural Foam and Web Injection Molding (SIM) for low-pressure, lightweight, high-strength parts.
• Reaction Injection Molding (RIM) using DCPD technology for mid-volume, high-impact parts.
• Hand lay-up and spray-up for fiberglass-reinforced components, often used for non-cosmetic or interior structural parts.
• Assembly, machining, and paint operations; uses robotics, water-jet cutting, paint booths, batch ovens, and partners with outside providers for higher-volume topcoat painting.

Production facilities and capacity

• As of December 31, 2025, the company owned 82 molding presses (250 to 5,500 tons) across six facilities:
  • Columbus, OH: 18 presses
  • Matamoros, Mexico: 25 presses
  • Cobourg, Canada: 18 presses
  • Gaffney, SC: 10 presses
  • Winona, MN: 5 presses
  • Monterrey, Mexico: 6 presses
• Capacity utilization:
  • Large compression presses (2,000+ tons, 25 presses): 50% in 2025; 73% in 2024.
  • Large injection presses (750+ tons, 12 presses): 46% in 2025; 52% in 2024.

Customers and revenue concentration

• Five major customers accounted for approximately 65% of 2025 total sales.
• Major customers (2025 sales mix):
  • BRP, Inc. — 14% (supply agreement expires July 31, 2029)
  • International Motors, LLC — 28%
  • PACCAR, Inc. — 11%
  • Yamaha Motor Corporation — 8%
  • Volvo Group North America, LLC — 4% (supply agreement expires December 31, 2027)
• Other customers individually represented less than 10% of total sales in 2025.

Geographic sales (ship-to location)

• United States: $141,143,000
• Mexico: $109,167,000
• Canada: $16,703,000
• Other: $6,785,000
• Total sales (2025): $273,798,000

Workforce

• Total employees: 1,239 (as of December 31, 2025)
  • United States: 339
  • Mexico: 727
  • Canada: 173
• Salary workforce: 307; Hourly workforce: 932
• Union coverage: approximately 65.8% of the workforce across four plants:
  • Columbus, OH (IAM) — 125 employees; contract expires August 12, 2028
  • Matamoros, Mexico (Sindicato de Jornaleros y Obreros) — 501 employees; contract expires December 31, 2026
  • Cobourg, Canada (UFCW) — 130 employees; contract expires November 1, 2025
  • Monterrey, Mexico (Sindicato de trabajadores de la industria metalica y del comercio del estado de Nuevo Leon) — 59 employees; contract expires February 14, 2026

Backlog and ordering

• Four weeks of backlog of expected shipments: approximately $16.8 million; this backlog was shipped in the first month of 2026.
• Backlog at December 31, 2025 and December 31, 2024: $19.1 million (each year).

Capital expenditures and research

• Capital expenditures: approximately $17.3 million in 2025 (prior years: $11.5 million in 2024; $9.1 million in 2023).
• Research and development: approximately $1.4 million in 2025; $1.9 million in 2024; $1.7 million in 2023.
• R&D activities are integrated with existing manufacturing, engineering, and quality organizations; no separate R&D organization or facility.

Financial snapshot

• Revenue (total sales) for 2025: $273,798,000

Other notes

• The company operates in a cyclical and competitive market, with material exposure to the North American truck market and to raw-material cost volatility and supply-chain disruptions.
• Maintains ISO 14001 environmental certifications and emphasizes safety, environmental management, and ongoing capital investments in facilities and equipment.