Turkey’s reinforcement technologies company Kordsa has said it acquired two U.S.-based companies, Fabric Development Inc (FDI) and Textile Products Inc. (TPI), which provide advanced composite materials to the commercial aviation industry, with an investment of approximately $100 million.
In a statement on July 25, Kordsa said it sees this opportunity as a key step toward reinforcing its composite market position in the U.S. as well as becoming a strong player in the growing aviation industry supply chain.
“Our business journey today is brought to a new level with this brand-new investment which will lead us to become a global player in the field of commercial aviation having an important presence in the commercial aviation value chain. 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,” Kordsa CEO Ali Çalışkan said.
He added that the company 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,” Çalışkan noted.
Kordsa is now operating in 10 facilities throughout four continents, according to the statement.