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, South Carolina. The company is investing $6.4 million in machinery and equipment and adding more than 50 new jobs as part of the expansion.
According to state officials, 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.
"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/CEO of Core Molding Technologies said.
"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,” said Governor 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 noted.