NetComposites
Juniar Spraybooths

Kordsa Acquires Two US Composites Companies

12 December 2017

Kordsa has entered into a definitive purchase agreement to acquire two US composite companies – Fabric Development Inc (FDI) and Textile Products Inc (TPI).

The acquisition of these companies, which provide advanced composite materials to the commercial aviation industry, represents an investment of approximately US$100 million.

With these acquisitions, Kordsa plans to strengthen its position in the US and become a strong player in the commercial aviation supply chain, which is expected to grow by at least 10% annually over the next five years. The acquisition is subject to customary closing conditions, including certain US government approvals. Kordsa expects to complete the acquisitions in the first quarter of 2018.

“Following the announcement of our market entry strategy for composite technologies in 2013, we took the first step with the Composite Technologies Centre of Excellence investment in 2016,” explains Sabancı Holding Industry Group President Cenk Alper. “In the wake of the approximately $100 million investment we undertake, we will have an important presence in the commercial aviation value chain and strengthen our position in the US. We plan to pursue additional acquisition opportunities while developing new technologies in Turkey and exporting to the world, with the aim of being a global player in composite technologies."






Related / You might like...

Continental Structural Plastics Adds SMC Line in France

Continental Structural Plastics (CSP) will install a sheet moulding compound (SMC) production line at its facility in Pouance, France, to support the need for its composite formulations in Europe.

Solvay Breaks Ground on Aerospace Composites Facility Expansion in Texas

Solvay has celebrated the groundbreaking of its Greenville, Texas, US, manufacturing footprint expansion that increases the site’s resin mixing capacity to meet the growing needs of commercial and military aerospace composite customers.

Covestro Introduces Brand Name for Thermoplastic Composites

Covestro is pushing ahead with developing and marketing its continuous fibre reinforced thermoplastic (CFRTP) composites by introducing Maezio as brand name.