08.12.2022 - plastics news from Turkey

Kordsa getting ready to execute two major acquisitions

Kordsa getting ready to execute two major acquisitions
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Kordsa will enhance its solid global leadership in reinforcement technologies with its two future major acquisitions in composite technologies. Kordsa decided to acquire Fabric Development Inc. (FDI) ve Textile Products Inc. (TPI), which provide advanced composite materials for the commercial aviation industry, with an investment worth approx. USD 100 million. Thanks to this acquisition, Kordsa aims to both strengthen its position in the US and become a strong player in the commercial aviation industry supply chain by acquiring the leading companies of the composite technologies market which is anticipated to grow above 10% in average on an annual basis during the next 5 years.

Mehmet Göçmen, CEO of Sabancı Holding, said: “This new step will make Kordsa a strategic supplier for major players in aerospace and civil aviation, particularly for Boeing and Toray Composites Materials America Inc. This investment will allow our industrial companies to export technology under our understanding of open innovation.” in his statement.

Cenk Alper, Industrial Group President at Sabancı Holding, remarked: “With this investment intended to be made for approx. USD 100 million, we will not only strengthen our position in the US, but also become a strong player in the commercial aviation industry supply chain by acquiring the market leading companies in composite technologies.” in his statement.

Ali Çalışkan, CEO of Kordsa, spoke on the acquisition of FDI and TPI by saying: “As a result of this investment that we execute in line with our ‘acquire and expand’ strategy in composite technologies, we will also now reinforce the wings and hulls of those aircrafts using tires reinforced by our company.”

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