Turkey-based Kordsa recently acquired commercial aviation industry composite suppliers Fabric Development Inc. (FDI), Quakertown, Pa., and Textile Products Inc. (TPI), Anaheim, Calif., as part of a $100 million investment. The company wishes to strengthen its composite market position in the United States.
“Over the years, we leveraged our expertise in tire reinforcement technologies into construction reinforcement and composite technologies and expanded our lines of business,” said Kordsa CEO Ali Çalıçkan. “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.”