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Kordsa to buy two US companies in $100 mln deal

Kordsa to buy two US companies in $100 mln deal

Turkey’s Kordsa, which is an affiliate of Sabanci Holding, aims to strengthen its leadership position in the global market by acquiring two major companies in the composite technologies field.

Kordsa decided to buy Fabric Development Inc (FDI) and Textile Products Inc (TPI) that develop and supply special-purpose composite products to the aerospace industry. The investments volume is supposed to amount $100 mln.

Composite technologies market is forecasted to grow with CAGR of over 10% during the following five years. Thus, the acquisition of the leading aerospace composites suppliers will help Kordsa to strengthen its positions in the US and to become a key player in the commercial aviation supply chain.

The deal is expected to be completed in the first quarter of 2018 after the approval by the US’ committee on foreign investments.

The first step in Kordsa’s strategy to enter the high-tech composite market was the Composite Technologies Excellence Center founded in 2016 in cooperation with the Sabanchi University.

The next step will turn the company into a strategic supplier for such aerospace industry monsters as Boeing and Toray Composites Materials America Inc., comments Kordsa management.

Kordsa is a leading provider of tires, construction reinforcement and composite technologies. The company offers the advanced technologies in these fields.

Due to R&D practices and innovations implemented in all the business processes, Kordsa became the patent leader of 2016. The company currently has 475 patent applications, including hybrid cord structure with basalt fiber.

 

About Olga Yurchenko

Olga Yurchenko
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