Core Materials Corporation Announces New Relationship with PACCAR Inc.

Apr 17, 2001, 01:00 ET from Core Materials Corporation

    COLUMBUS, Ohio, April 17 /PRNewswire/ -- Core Materials Corporation
 (Amex:   CME) announced today that it has reached an agreement with Peterbilt
 Motors Company to supply sheet molding composite (SMC) products for one of its
 heavy duty truck models.
     This agreement with Peterbilt, a division of PACCAR Inc., includes
 manufacturing of a SMC fiberglass reinforced hood for Peterbilt's 387 class
 8 truck.  Core Materials will produce the SMC hood assemblies for Peterbilt's
 Denton, Texas, truck assembly plant.
     Based on anticipated planning volumes released by Peterbilt, Core
 Materials' estimated revenues from this business are anticipated to be in the
 $3 million to $5 million annually. Production is expected to begin in late
 2001.
     "This is a major piece of new business for Core Materials as it is further
 proof of our ability to aggressively compete in the heavy truck sector and
 strategically expand our customer base," said James L. Simonton, president and
 chief executive officer, Core Materials. "Combined with our existing
 customers, we have strong business relationships with four of the five major
 truck original equipment manufacturers."
     Core Materials' management stated the Peterbilt business represents
 further progress towards meeting Core Material's aggressive diversification
 plans. Currently, Core Materials notable customers include: International
 Truck and Engine Corporation (formerly known as Navistar International
 Transportation Corporation), Yamaha Motor Manufacturing Corporation, Volvo
 Trucks North America Inc., Mack Trucks Inc., and Lear Corporation.
     Peterbilt Motors Company, a division of PACCAR Inc., manufactures premium
 quality trucks and offers a broad range of services for the over-the-road,
 construction, municipal and medium-duty markets. Peterbilt combines classic
 styling, innovative design and superior-quality features in a comprehensive,
 custom-engineered truck that is sold and serviced through its 216 U.S. and
 Canadian dealerships.
     Core Materials Corporation (Amex:   CME) is a compounder and compression
 molder of sheet molding composites (SMC). The company produces high quality
 fiberglass reinforced, molded products and SMC materials for varied markets,
 including transportation, marine, agricultural and commercial and industrial
 products. Core Materials, with its headquarters in Columbus, Ohio, operates
 plants in Columbus and Gaffney, South Carolina.
     This press release contains certain "forward-looking statements" which
 involve certain risks and uncertainties. Core Materials' actual results may
 differ significantly from those discussed in the forward-looking statements.
 Factors that may cause such a difference include, but are not limited to:
 business conditions in the plastics, transportation, recreation and consumer
 products industries, the general economy, competitive factors, the dependence
 on two major customers, the recent efforts of Core Materials to expand its
 customer base, new technologies, regulatory requirements, labor relations, the
 loss or inability to attract key personnel, ramp up of the Company's South
 Carolina facility, construction delays, the availability of capital and
 management's decision to pursue new products or businesses which involve
 additional cost risks or capital expenditures.
 
 

SOURCE Core Materials Corporation
    COLUMBUS, Ohio, April 17 /PRNewswire/ -- Core Materials Corporation
 (Amex:   CME) announced today that it has reached an agreement with Peterbilt
 Motors Company to supply sheet molding composite (SMC) products for one of its
 heavy duty truck models.
     This agreement with Peterbilt, a division of PACCAR Inc., includes
 manufacturing of a SMC fiberglass reinforced hood for Peterbilt's 387 class
 8 truck.  Core Materials will produce the SMC hood assemblies for Peterbilt's
 Denton, Texas, truck assembly plant.
     Based on anticipated planning volumes released by Peterbilt, Core
 Materials' estimated revenues from this business are anticipated to be in the
 $3 million to $5 million annually. Production is expected to begin in late
 2001.
     "This is a major piece of new business for Core Materials as it is further
 proof of our ability to aggressively compete in the heavy truck sector and
 strategically expand our customer base," said James L. Simonton, president and
 chief executive officer, Core Materials. "Combined with our existing
 customers, we have strong business relationships with four of the five major
 truck original equipment manufacturers."
     Core Materials' management stated the Peterbilt business represents
 further progress towards meeting Core Material's aggressive diversification
 plans. Currently, Core Materials notable customers include: International
 Truck and Engine Corporation (formerly known as Navistar International
 Transportation Corporation), Yamaha Motor Manufacturing Corporation, Volvo
 Trucks North America Inc., Mack Trucks Inc., and Lear Corporation.
     Peterbilt Motors Company, a division of PACCAR Inc., manufactures premium
 quality trucks and offers a broad range of services for the over-the-road,
 construction, municipal and medium-duty markets. Peterbilt combines classic
 styling, innovative design and superior-quality features in a comprehensive,
 custom-engineered truck that is sold and serviced through its 216 U.S. and
 Canadian dealerships.
     Core Materials Corporation (Amex:   CME) is a compounder and compression
 molder of sheet molding composites (SMC). The company produces high quality
 fiberglass reinforced, molded products and SMC materials for varied markets,
 including transportation, marine, agricultural and commercial and industrial
 products. Core Materials, with its headquarters in Columbus, Ohio, operates
 plants in Columbus and Gaffney, South Carolina.
     This press release contains certain "forward-looking statements" which
 involve certain risks and uncertainties. Core Materials' actual results may
 differ significantly from those discussed in the forward-looking statements.
 Factors that may cause such a difference include, but are not limited to:
 business conditions in the plastics, transportation, recreation and consumer
 products industries, the general economy, competitive factors, the dependence
 on two major customers, the recent efforts of Core Materials to expand its
 customer base, new technologies, regulatory requirements, labor relations, the
 loss or inability to attract key personnel, ramp up of the Company's South
 Carolina facility, construction delays, the availability of capital and
 management's decision to pursue new products or businesses which involve
 additional cost risks or capital expenditures.
 
 SOURCE  Core Materials Corporation