Core Molding Technologies, Inc. (AMEX:CMT) Q4 2022 Earnings Call Transcript

John Zimmer: Yes, the majority of that is going to be sustaining, but sustaining in a way that you will get additional capacity. Again, as Dave made a comment about as we improve our throughput, but we also change controls on equipment, those types of things, what will end up happening when you change controls is that you’ll get a press that goes up and down faster, more stable, those types of things. And so, the last couple of years, we’ve done some pretty good capacity expansion. I think during this past year, we obviously added three presses over the last – four presses over the last two years. And so, I think this year is more of a focus on how do we make sure that we’ve got the sustainable or sustaining CapEx being spent, make sure the business stays very stable, those types of things.

Dave Duvall: Yes. Maybe one point, Chip, to elaborate a little more on your prior question. When we talk about getting the operational to a high level and really gaining the capacity out of what we know that we can do and getting operational systems in place, a lot of that really is preparing when you start looking at expanding so that when you do an acquisition, you’re able to come in and put the operational systems in and integrate them as quickly as possible.

Chip Moore: Yes, makes sense.

John Zimmer: Yes. Fix yourself before you try fixing somebody else.

Chip Moore: That’s right. All right. Thanks very much. I appreciate it.

Operator: . Showing no further questions, this concludes our question-and-answer session. I would like to turn the conference back over to Dave Duvall for any closing remarks.

Dave Duvall: Good. Thank you for your continued interest in our company, and we do look forward to providing an update of our progress when we report first quarter results in a couple of months. Thank you, everyone.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.