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For additional economic development information, contact:

Kenneth Moon Executive Director Phone: (864) 492-2889 moonk@sccsc.edu
Cherokee County Development Board 101 Campus Drive | Gaffney, SC 29341
Phone (864) 206-2804
Fax (864) 206-2801

Core Molding Technologies Inc. expands Gaffney facility

$6.4 million investment brings more than 50 new jobs

COLUMBIA, S.C. – Core Molding Technologies Inc., a manufacturer of sheet molding compound and a molder of fiberglass reinforced plastics, is in the process of expanding its operations in Cherokee County. The company is investing $6.4 million in machinery and equipment and adding more than 50 new jobs as part of the expansion, which is expected to be completed by the middle of 2014.

Core’s growth plans were accelerated in 2013 when it announced an award of new business to produce roofs, hoods and other molded parts for a heavy duty truck manufacturer. A significant portion of the new business will be manufactured at the Gaffney manufacturing facility.

Since 2011, South Carolina has recruited more than $10 billion in capital investment and more than 29,000 jobs in the manufacturing sector.

Anyone interested in job opportunities with Core Molding Technologies should visit the company’s website, www.coremt.com.

QUOTES
“We are excited to be moving forward with an expansion of our Gaffney manufacturing operations. Cherokee County and South Carolina have established a great business environment and we appreciate the support we’ve received from state and local officials.” -Kevin L. Barnett, president and CEO of Core Molding Technologies

“Expansions of existing companies continue to be a driving force behind our state’s strong and growing economy. Today we celebrate yet another expansion as Core invests $6.4 million in additional assets, creating more than 50 new jobs, and proving once again that South Carolina is not only just right for business, but also just right for growth.” – Gov. Nikki Haley

“Last year, 42 existing in-state manufacturers announced expansions, representing $1.3 billion in investment and bringing nearly 3,700 jobs to the Palmetto State. Thanks to companies like Core, South Carolina is experiencing measurable growth in its already booming advanced manufacturing industry.” -Secretary of Commerce Bobby Hitt

“Core has been a great asset to Cherokee County for more than 15 years. We are excited they have chosen our county to expand.  The $6.4 million investment will bring more than 50 new jobs to our county.  We are very happy that Core calls Cherokee County home.” -County Council Chairman Tim Spencer.

“Congratulations to Core for their recent expansion. Cherokee County is proud to partner with excellent companies like Core and help them, help us make our county a better place to live and work.” -State Rep. Steve Moss

FIVE FAST FACTS

  • $6.4 million investment in machinery and equipment and more than 50 new jobs.
  • Since 2011, South Carolina has recruited more than $10 billion in capital investment and more than 29,000 jobs in the manufacturing sector.
  • More than 250 existing businesses have committed to expand their operationsin South Carolina since 2011.
  • Last year, more than 42 existing manufacturers announce expansions, representing $1.3 billion in investment and nearly 3,700 new jobs.
  • For job opportunities visit the company’s website, www.coremt.com.

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.

About S.C. Department of Commerce

As South Carolina’s leading economic development agency, the Department of Commerce works to recruit new businesses and help existing businesses grow. Commerce has recruited world-class companies to South Carolina such as Boeing, Bridgestone, Continental, Monster.com, ZF Group, BMW and Google Inc. and also supports small and existing business, rural development initiatives and community development. Commerce partners with the S.C. Technical College System via readySC to support workforce training and recruiting, and with the S.C. Department of Employment and Workforce, which provides worker training and employment opportunities within the state. South Carolina ranked first in the national for attracting jobs through foreign investment, according to IBM-Plant Location International reports in both 2012 and 2013. The state won the Gold Shovel Award and the Project of Year Award from Area Development magazine in 2012. For more information, visit www.SCcommerce.com.

MEDIA CONTACT:
Allison Skipper, APR
Director of Marketing & Communications
South Carolina Department of Commerce
(803) 737-1998
askipper@sccommerce.com
www.SCcommerce.com