Core Molding Technologies Appoints New Board Member
02 Novembre 2023 - 1:00PM
Core Molding Technologies, Inc. (NYSE American: CMT) (“Core
Molding”, “Core” or the “Company”), announced today that Salvador
Miñarro has been appointed to its Board of Directors. Mr. Miñarro
is the Chief Executive Officer of Darnel Group, a global leader in
the production of high-quality, food-grade sustainable packaging
solutions and a pioneer in post-consumer recycled material. Prior
to the Darnel Group Mr. Miñarro was the President and Chief
Executive Officer of Vitro Automotive and also held executive
positions in operations, sales and finance at Libbey, Inc. Mr.
Miñarro has an executive MBA from Instituto Panamericano de Alta
Dirección de Empresas, a Master’s degree in Finance from University
of Southern California, and a Bachelor’s degree in Industrial
Engineer from Inst. Tecnológico y de Estudios Superiores de
Monterrey.
“We are pleased to have Sal join the Board and
look forward to his contributions to the Company. Sal’s extensive
experience and background in the manufacturing space, as well as
his experience operating in Canada and Mexico are invaluable and
will be instrumental to the Company achieving its strategic growth
goals,” said Thomas Cellitti, Chairman of the Board of Core Molding
Technologies, Inc.
“Sal’s manufacturing knowledge and corporate
leadership skills will be a great complement to the diverse talents
of our current Board members. We are excited to have Sal as part of
the Core team,” Cellitti continued.
About Core Molding Technologies,
Inc.
Core Molding Technologies is a leading
engineered materials company specializing in molded structural
products, principally in building products, utilities,
transportation and powersports industries across North America. The
Company operates in one operating segment as a molder of
thermoplastic and thermoset structural products. The Company’s
operating segment consists of one reporting unit, Core Molding
Technologies. The Company offers customers a wide range of
manufacturing processes to fit various program volume and
investment requirements. These thermoset processes include
compression molding of sheet molding compound (“SMC”), resin
transfer molding (“RTM”), liquid molding of dicyclopentadiene
(“DCPD”), spray-up and hand-lay-up. The thermoplastic processes
include direct long-fiber thermoplastics (“DLFT”) and structural
foam and structural web injection molding. Core Molding
Technologies serves a wide variety of markets, including the medium
and heavy-duty truck, marine, automotive, agriculture,
construction, and other commercial products. The demand for Core
Molding Technologies’ products is affected by economic conditions
in the United States, Mexico, and Canada. Core Molding
Technologies’ operations may change proportionately more than
revenues from operations.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the federal securities laws that
are subject to risks and uncertainties. These statements often
include words such as “believe”, “anticipate”, “plan”, “expect”,
“intend”, “will”, “should”, “could”, “would”, “project”,
“continue”, “likely”, and similar expressions. In particular, this
press release may contain forward-looking statements about the
Company’s expectations for future periods with respect to its plans
to improve financial results and the future of the Company’s end
markets. Factors that could cause actual results to differ from
those reflected in forward-looking statements relating to our
operations and business include: general macroeconomic, social,
regulatory and political conditions, including uncertainties
surrounding volatility in financial markets; the short-term and
long-term impact of the coronavirus (COVID-19) pandemic, or other
pandemics in the future, on our business; changes in the plastics,
transportation, marine and commercial product industries; efforts
of the Company to expand its customer base and develop new products
to diversify markets, materials and processes and increase
operational enhancements; the Company’s initiatives to quote and
execute manufacturing processes for new business, acquire raw
materials, address inflationary pressures, regulatory matters and
labor relations; and the Company’s financial position or other
financial information. These statements are based on certain
assumptions that the Company has made in light of its experience as
well as its perspective on historical trends, current conditions,
expected future developments and other factors it believes are
appropriate under the circumstances. Actual results may differ
materially from the anticipated results because of certain risks
and uncertainties, including those included in the Company’s
filings with the SEC. There can be no assurance that statements
made in this press release relating to future events will be
achieved. The Company undertakes no obligation to update or revise
forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating
results over time. All subsequent written and oral forward-looking
statements attributable to the Company or persons acting on behalf
of the Company are expressly qualified in their entirety by such
cautionary statements.
Company Contact:Core Molding
Technologies, Inc.John ZimmerExecutive Vice President & Chief
Financial Officer614-870-5604
Investor Relations
Contact:Three Part Advisors, LLCSandy Martin or Steven
Hooser214-616-2207
Core Molding Technologies (AMEX:CMT)
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