CPI is a producer of direct long fiber thermoplastics (D-LFT) products, serving the marine, automotive, packaging and other industries. CPI was previously a wholly owned subsidiary of Binani Industries Limited, based in Mumbai, India. The acquisition includes a staff of approximately 100 and a manufacturing facility of 83,000 ft2.
‘Continuing to expand our composite technology offerings for our diverse customer base is a key element of our growth strategy,’ said Kevin L. Barnett, president and CEO of Core Molding Technologies.
Versatile performance
Long-fiber reinforced thermoplastics systems are attractive for their versatile performance characteristics, resistance to chemicals, recyclability and fast processing times in many complex product configurations. The use of a direct process, where the compounding of the material is connected directly with the compression molding operation, improves the economics of the technology. Widely popular in Europe and Asia, D-LFT technology is still growing in North America, where applications are concentrated in the automotive industry, but include many non-automotive applications as well. CPI had annual sales in 2014 of approximately $20 million.
‘We are excited about adding the D-LFT technology to our growing portfolio of fiber-reinforced composite processes, and to advancing the opportunities the CPI team has under development,’ added Barnett. ‘Additionally, we see opportunities to offer the D-LFT technology to our existing customers and to cross-sell our thermoset technology to CPI’s customers. The D-LFT technology is complementary to our existing operations in many ways.’
