Core Molding Technologies Inc. (Columbus, Ohio) announced on June 25 that it has entered into a new supply agreement with Navistar Inc. Under the terms of the agreement, Navistar will continue to purchase 100 percent of its original equipment and service requirements as they presently exist for specified fiberglass reinforced products from Core Molding Technologies through Oct. 31, 2013. The previous agreement was scheduled to run through October 31, 2011.
Navistar is Core Molding Technologies' largest customer and accounted for approximately 44 percent of the company's 2007 total revenue, and is also a significant stockholder, owning approximately 9.8% of Core’s outstanding common stock. Core Molding Technologies is a compounder of sheet molding compound (SMC) and molder of fiberglass-reinforced plastics.