Core Molding Technologies (CMT) The 15th Annual East Coast IDEAS Conference summary

Turnaround and strategic transformation

• Underwent a major turnaround starting in 2018–2019, focusing on leadership changes, operational improvements, and rebuilding the workforce.

• Addressed unprofitable truck contracts by renegotiating pricing and improving the customer portfolio.

• Shifted from a truck-centric business (92% truck nine years ago) to a more diversified portfolio (now 50% truck).

• Emphasized the importance of execution and operational stability as a foundation for growth.

• Invested in organizational development and HR to reduce turnover and build a strong culture.

Growth initiatives and market diversification

• Focused on expanding into power sports, industrial utilities, construction, and agriculture markets.

• Added paint capabilities in Matamoros to access new construction and ag customers.

• Targeting acquisitions to expand geographic footprint and sales channels, especially in the western US.

• Growing sales force with new hires, including a chief commercial officer and business development managers.

• Won $30 million in new business this year, with potential for an additional $20 million from a Volvo program.

Product innovation and technology

• Developed proprietary SMC formulations, using trade secrets rather than patents for competitive advantage.

• Expanded SMC production for both internal and external customers, with capacity over 100 million lbs/year.

• Introduced cost-effective carbon fiber parts for power sports, leveraging resin transfer molding.

• Created unique composite solutions for customers, including faux rocks and advanced boat hulls.

• Focused on value-added solutions and early involvement in customer design phases.