Horizon Plastics sold

Horizon Plastics International (HPI) is one of Cobourg’s major employers and they have been sold to Core Molding Technologies, Inc (Core) based out of Ohio for approximately US $63 million in cash.   HPI has 250 employees operating within two manufacturing facilities located in Cobourg, and Nuevo Leon, Mexico.  Of these, 210 are in Cobourg.  The announcement says that the new owner “plans to continue all HPI operations and does not expect any significant restructuring, shut-down or employee severance costs.” That means no layoffs. The announcement by Core says that they have “acquired substantially all of the assets” of HPI. Kevin L. Barnett, President and Chief Executive Officer of Core Molding Technologies said: “Continuing to expand our technology offerings and diversifying… Read complete articleHorizon Plastics sold