ISTANBUL – Reinforcement technologies specialist Kordsa has acquired composite producer Fabric Development Inc., (FDI) and engineering firm Textile Products Inc., (TPI) in an effort to reaffirm its position as a leading producer of composite materials for the aviation industry.
The company has invested around US$100 million to boost its market position in the aviation industry which continues to grow. Kordsa CEO Ali Çalışkan commented: "Over the years, we leveraged our expertise in tire reinforcement technologies into construction reinforcement and composite technologies and expanded our lines of business.
“In parallel to our strategic decision to focus on composite technologies, we inaugurated the Composite Technologies Center of Excellence, which operates as an innovation hub combining industry and university under the same roof,” he added.
With the acquisition of FDI, a producer of Kevlar and carbon fabrics for composite ballistic applications, and TPI – a custom fabrics specialist serving the aerospace and aircraft industries – Kordsa strengthens both its capabilities and its product portfolio.
As such, Çalışkan believes the company will better serve its customers. He said: “This new step will ensure us to be a strategic supplier of key players in aerospace and civil aviation, particularly Boeing and Toray Composites Materials America Inc.
“With this acquisition, we also aim to strengthen our strong global leadership in reinforcement technologies. We used to reinforce the tires of the aircrafts, now we are honored to say that we will also reinforce the wings and hulls of the aircrafts with our composite technologies, as well as the landing tracks of those aircrafts with our construction reinforcement technologies,” he noted.
Kordsa operates in ten facilities based around the world, the Turkish firm supplies from its bases in Europe, North America and the Asia-pacific region.