BADINIÈRES, France — November 28, 2016 — The French technical textile and composites manufacturer Porcher Industries is pleased to announce the purchase of Cordtech International from the investment company RDC15. Formerly the France-based site of Milliken, Cordtech International specializes in the processing and treatment of industrial fibers for the automotive industry.
Five months after its acquisition by the British investment fund Warwick Capital Partners, Porcher Industries underlines its aim to develop one of its principal markets: the automotive market. The acquisition of Cordtech International — the first by the group in France since 1989 — enables Porcher Industries to strengthen its offering through the existing technical, sales and R&D synergies between the two companies.
Porcher Industries’ worldwide activity in the automotive market generates more than $100 million of annual revenue. The company offers a range of varied products for airbags, exhaust systems, chassis, brake hoses and transmission belts. Through this acquisition, the group has the opportunity to reinforce its presence in the automotive world and confirm its unique worldwide position in transmission belt reinforcements.
Porcher Industries and Cordtech International have each worked within corresponding marketplaces and often with the same clients, which made this partnership a natural fit.
“This acquisition is a development opportunity. We are also looking for talents for the various positions that represent the Porcher Industries group. Our group is a diamond in the rough, with huge potential in terms of innovation and market coverage. We now need to polish it, and reveal its various facets,” said Executive Board President, André Genton.
Appointed to the head of Porcher Industries in early June, the 57-year-old has devoted most of his career to the composites industry, at an international level. In the past, Genton was also President of the Advanced Materials division of U.S. based chemicals group Huntsman, where he managed a revenue of $1.4 billion.
Posted November 28, 2016
Source: Porcher Industries