Kordsa to make two US acquisitions

Sabanci Holding CEO Mehmet Göçmen.
Sabanci Holding CEO Mehmet Göçmen.

Kordsa plans to buy two US companies in order to strengthen its reinforcement technologies business.  The company aims at acquiring Fabric Development Inc (FDI) and Textile Products Inc (TPI), both of which provide composite materials to the commercial aviation industry, with an investment of approximately US$100 million.

‘With the acquisition, Kordsa will strengthen its position in the United States, as well as become a strong player in the commercial aviation industry supply chain, which is expected to grow by at least 10% annually over the next 5 years,’ the company said in a press release.

‘This new step will ensure that Kordsa is a strategic supplier of key players in aerospace and civil aviation, particularly Boeing and Toray Composites Materials America Inc,’ said Sabanci Holding CEO Mehmet Göçmen. This investment will contribute greatly to our innovation-oriented growth strategy at Sabanci Group while enabling our industrial companies to export technology as a part of our open innovation mindset.’

‘This investment will allow Kordsa, within our composite technologies strategy, to now reinforce the wings and fuselage of an aircraft, in addition to our legacy aircraft tire reinforcement capabilities,’ said Kordsa CEO Ali Çaliskan. ‘Following the consummation of the acquisition of FDI and TPI companies in Philadelphia and Los Angeles, Kordsa will operate on four continents with its 10 plants.’

This story is reprinted from material from Kordsawith editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.