NetComposites
Thermwood

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...

RTP Company Exhibits Carbon Fibre Compounds at NPE 2018

RTP Company will showcase a variety of product samples and an assortment of applications created from the company’s engineered thermoplastics at NPE 2018: The Plastics Show on 7-11 May in Orlando, Florida, US.

National Experts to Headline Marine-i Event

Marine-i has announced the line-up of industry experts who will be presenting at a Composite Discovery Room event taking place on 30 April at St Austell Business Park Conference Centre, Cornwall, UK.

Environmental Performance of Battery Electric Vehicles Questioned at APC Seminar

The environmental credentials of battery electric vehicles were questioned at the latest Future of Technology seminar organised by the Advanced Propulsion Centre (APC) and Innovate UK.