Core Molding Technologies (CMT) 2024 Southwest IDEAS Conference summary

Business Overview and Market Position

• Achieved $358 million in 2023 sales with nearly 2,000 employees and six plants across North America, including facilities in the US, Mexico, and Canada.

• Holds 30% market share in truck and 85-86% in personal watercraft segments, with leadership in truck and powersports.

• Maintains strong, single-source relationships with major OEMs, providing recurring revenues exceeding 90%.

• Focuses on large, technical, custom-designed composite parts for blue-chip customers, with a diversified portfolio across building products, industrial/utilities, power sports, and transportation.

• Expanding into new markets such as golf carts, Con-Ag, packaging, consumer, building products, and medical sectors.

Product Innovation and Customer Solutions

• Develops lightweight, high-strength composites, enabling industry shifts from metal to composites and offering proprietary, highly engineered products.

• Introduced composite skid plates for BRP ATVs, replacing metal for better impact and load resistance.

• Offers labor-saving solutions in industrial and utility applications, such as modular rail line components and stormwater drains.

• Focuses on solution sales, designing products early with customers for optimal performance and cost, and achieving significant product simplification.

• Differentiates through part consolidation, multi-composite design flexibility, and ESG-focused solutions.

Operational Turnaround and Strategic Focus

• Completed a major turnaround since 2019, improving employee retention from 50% to below 9%.

• Enhanced supplier quality and contract profitability, winning industry awards for performance.

• Strategy centers on execution, investing for growth, expanding sales and technical functions, and operational excellence.

• Emphasizes growing wallet share, solving customer problems, industry diversification, and culture as a competitive advantage.

• Targets new industries including medical, EV battery trays, and energy storage, with new business launches projected through 2026.