Description of Core Molding Technologies Inc's Business Segments
Sheet Molding Compound (“SMC”)
SMC is primarily a combination of resins, fiberglass, fillers, and catalysts
compounded and cured in sheet form, which is then used to manufacture compression-molded
products, as discussed below. The Company also sells SMC to other molders.
The Company incorporates a sophisticated computer program in the process of
compounding various complex SMC formulations tailored to meet customer needs.
The program provides for the control of information during various production
processes and data for statistical batch controls.
Closed Molded Products
The Company manufactures plastic products using compression molding, resin
transfer molding and reaction injection molding. As of December 31, 2016, the
Company owned 51 molding presses in its Columbus, Ohio facility (16), Matamoros,
Mexico facility (20), Gaffney, South Carolina facility (10) and Winona, Minnesota
facility (5). The Companys molding presses range in size from 250 to 5,000
tons.
Compression Molding of SMC - Compression molding is a process whereby SMC is
molded to form by matched die steel molds through which a combination of heat
and pressure are applied via a molding press. This process produces high quality,
dimensionally consistent products. This process is typically used for high volume
products. Higher volumes justify the customers investment in matched die steel
molds.
Large platen, high tonnage presses (2,000 tons or greater) provide the ability
to mold very large reinforced plastic parts. The Company believes that it possesses
a significant portion of the large platen, high tonnage molding capacity in
the industry. To enhance the surface quality and the paint finish of our products,
the Company uses both in-mold coating and vacuum molding processes.
In-mold coating is the process of injecting a liquid over the molded part surface
and then applying pressure at elevated temperatures during an extended molding
cycle. The liquid coating serves to fill and/or bridge surface porosity as well
as provide a barrier against solvent penetration during subsequent top-coating
operations.
Vacuum molding is the removal of air during the molding cycle for the purpose
of reducing the amount of surface porosity. The Company believes that it is
among the industry leaders in in-mold coating and vacuum molding applications,
based on the size and complexity of parts molded.
Resin Transfer Molding (“RTM”) - This process employs two molds,
typically a core and a cavity, similar to matched die molding. The composite
is produced by placing glass mat, chopped strand, or continuous strand fiberglass
in the mold cavity in the desired pattern. Parts used for cosmetic purposes
typically have a gel coat applied to the mold surface. The core mold is then
fitted to the cavity, and upon a satisfactory seal, a vacuum is applied. When
the proper vacuum is achieved, the resin is injected into the mold to fill the
part. Finally, the part is allowed to cure and is then removed from the mold
and trimmed to shape. Fiberglass reinforced products produced from the RTM process
exhibit a high quality surface on both sides of the part and excellent part
thickness. The multiple insert tooling technique can be utilized in the RTM
process to improve throughput based upon volume requirements.
Direct Long-Fiber Thermoplastics ("D-LFT") - D-LFT molding employs
two molds, typically a core and a cavity, similar to matched die molding. This
is a process for compounding and molding thermoplastic materials with "long"
fibers (typically, 0.5 inch or longer). Engineered thermoplastic pellets and
performance additives are compounded in a screw extruder, to which chopped reinforcements
(typically, glass fibers) are added and further extruded. A "charge"
of material is cut to a precise weight, and this "charge" is directly
moved to a compression or injection-transfer process, where it is molded into
a finished part. The process allows for direct processing of the compounded
material, bypassing the expense and delay of producing an intermediate product
(pellets or sheets) as is used in other fiber-reinforced thermoplastic molding
processes. The D-LFT process is an attractive option for products that have
complex geometry, require high strength and stiffness and benefit from the recyclability
of a thermoplastic resin.
Reaction Injection Molding (“RIM”) - This is a process whereby
a composite is produced through the injection of a two-component thermoset resin
system utilizing dicyclopentadiene (“DCPD”) technology. DCPD technology
involves injecting a liquid compound into matched die aluminum molds to form
the part. In this process the mold is prepared, closed and the liquid compound
is injected into the tool then cured. Additional finishing is required when
the part is designated for top coat painting. The RIM process is an alternative
to other closed mold processes for mid-volume parts that require a high level
of impact resistance.
Open Molded Products
The Company produces reinforced plastic products using both the hand lay-up
and spray-up methods of open molding at our Batavia, Ohio and Matamoros, Mexico
locations. Part sizes weigh from a few pounds to several hundred pounds with
surface quality tailored for the end use application.
Hand Lay-Up - This process utilizes a shell mold, typically the cavity, where
glass cloth, either chopped strand or continuous strand glass mat, is introduced
into the cavity. Resin is then applied to the cloth and rolled out to achieve
a uniform wet-out from the glass and to remove any trapped air. The part is
then allowed to cure and removed from the mold. After removal, the part typically
undergoes trimming to achieve the shape desired. Parts used for cosmetic purposes
typically have a gel coat applied to the mold surface prior to the lay-up to
improve the surface quality of the finished part. Parts produced from this process
have a smooth outer surface and an unfinished or rough interior surface. These
fiberglass-reinforced products are typically non-cosmetic components or structural
reinforcements that are sold externally or used internally as components of
larger assemblies.
Spray-Up - This process utilizes the same type of shell mold as hand-lay-up,
but instead of using glass cloth to produce the composite part, a chopper/spray
system is employed. Glass rovings and resin feed the chopper/spray gun. The
resin coated, chopped glass is sprayed into the mold to the desired thickness.
The resin coated glass in the mold is then rolled out to ensure complete wet-out
and to remove any trapped air. The part is then allowed to cure, is removed
from the mold and is then trimmed to the desired shape. Parts used for cosmetic
purposes typically have a gel coat applied to the mold surface prior to the
resin-coated glass being sprayed into the mold to improve the surface quality
of the finished part. Parts produced from this process have a smooth outer surface
and an unfinished or rough interior surface.
Assembly, Machining, and Paint Products
Many of the products molded by the Company are assembled, machined and prime
painted or topcoat painted to result in a completed product used by the Companys
customers.
The Company has demonstrated manufacturing flexibility that accommodates a
range of low volume hand assembly and machining work, to high volume, highly
automated assembly and machining systems. Robotics are used as deemed productive
for material
handling, machining, and adhesive applications. In addition to conventional
machining methods, water-jet cutting technology is also used where appropriate.
The Company also utilizes paint booths and batch ovens in its facilities. The
Company generally contracts with outside providers for higher volume applications
that require top coat paint.
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