Core Molding Technologies, Inc. (CMT) Announces $7.5M Share Buyback

Core Molding Technologies, Inc. (NYSE American: CMT) (“Core Molding”, “Core” or the “Company”), a leading engineered materials company specializing in molded structural products, principally in building products, industrial and utilities, medium and heavy-duty truck and powersports industries across the United States, Canada and Mexico, today announced that its Board of Directors authorized a stock repurchase program of up to $7,500,000 of the Company’s issued and outstanding common stock, par value $1.00 per share.

“The combination of the Company’s operational performance and the strength of the balance sheet enables the Company to allocate capital to the repurchase of Company shares while also allocating capital to the growth of the Company,” said Core Chief Executive Officer David Duvall. “The timing of this decision is just another step in the Company’s transformation plan that started several years ago.”

Repurchases of shares of common stock under the stock repurchase program will be made in the open market and in accordance with applicable securities laws. The stock repurchase program does not obligate the Company to acquire any particular amount of common stock, and it may be suspended or terminated at any time at the Company’s discretion.

You May Also Be Interested In

• Two Harbors rejects UWM Holdings lawsuit amid pending CrossCountry deal
• NovaGold and Paulson hire advisors for Donlin Gold project financing
• Inuvo CFO to retire; Derric Ciccone named president and CFO