Kordsa announced the completion of its acquisition of Fabric Development Inc. and Textile Products Inc., which provides advanced composite materials for the commercial aviation industry.
Enhanced technology company Kordsa (Istanbul, Turkey) signed a purchase agreement for the acquisition of Fabric Development Inc. (FDI, Quakertown, PA, US) and Textile Products Inc. (TPI) after expanding its business to composites in 2016. , Anaheim, CA, US), providing advanced composite materials for the commercial aviation industry with an investment of approximately $100 million. Coases announced the completion of the acquisition on July 27.
Through these acquisitions, Kordsa continues its organic growth through R&D and technology investments while seeking inorganic growth opportunities in the global composites business.
Kordsa CEO AliÇalışkan said: "This new initiative will ensure that we become a strategic supplier to key players in the aerospace and civil aviation sectors, especially Boeing and Toray Composites USA. Through this acquisition, we also aim Strengthening our strong global leadership. Reinforcement technology. We used to reinforce aircraft tires, and now we are honored to say that we will also use our composite technology to reinforce the wing and hull of the aircraft and use our building reinforcement technology. The landing tracks of these aircraft are reinforced."
