EXHIBIT 5 [ON SQUIRE, SANDERS & DEMPSEY L.L.P. LETTERHEAD] July 16, 2003 Board of Directors Core Molding Technologies, Inc. 800 Manor Park Drive P.O. Box 28183 Columbus, Ohio 43228-0183 Gentlemen: We are familiar with the proceedings taken and proposed to be taken by Core Molding Technologies, Inc., a Delaware corporation (the "Company"), in connection with the registration for issuance and sale of shares of common stock of the Company, par value $.01 per share, (the "Common Stock") under the 2002 Core Molding Technologies, Inc. Employee Stock Purchase Plan (the "Plan"), as described in the Registration Statement on Form S-8 (the "Registration Statement") to be filed with the Securities and Exchange Commission on or about July 17, 2003. The purpose of the Registration Statement is to register an additional 200,000 shares of Common Stock reserved for issuance under the Plan pursuant to the provisions of the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. In connection with this opinion, we have examined an original or copy of, and have relied upon the accuracy of, without independent verification or investigation: (a) the Registration Statement; (b) the Plan; (c) the Certificate of Incorporation of the Company, as amended through August 28, 2002; (d) the By-Laws of the Company; and (e) certain proceedings of the directors and of the stockholders of the Company. We have also relied upon such representations of the Company and officers of the Company and such authorities of law as we have deemed relevant as a basis for this opinion. We have relied solely upon the examinations and inquiries recited herein, and we have not undertaken any independent investigation to determine the existence or absence of any facts, and no inference as to our knowledge concerning such facts should be drawn. Based upon and subject to the foregoing and the further qualifications and limitations set forth below, as of the date hereof, we are of the opinion that after the 200,000 shares of Common Stock of the Company to be registered under the Registration Statement have been issued and delivered by the Company upon exercise of purchase rights under the Plan against payment of the purchase price therefore, in accordance with the terms of the Plan, said shares of Common Stock will be validly issued, fully paid and non-assessable, assuming compliance with applicable federal and state securities laws and with the transfer restrictions contained in the Company's Certificate of Incorporation, as amended through August 28, 2002. 19 Our opinion is limited to the General Corporation Law of Delaware in effect as of the date hereof. This opinion is furnished by us solely for the benefit of the Company in connection with the offering of the shares of Common Stock pursuant to the Plan and the filing of the Registration Statement and any amendments thereto. This opinion may not be relied upon by any other person or assigned, quoted or otherwise used without our specific written consent. Notwithstanding the foregoing, we consent to the filing of this opinion as an Exhibit to the Registration Statement and to the reference to us therein. Very truly yours, /s/ Squire, Sanders & Dempsey L.L.P. 20