Kordsa continues to expand into aerospace industry

Kordsa (Istanbul, Turkey) has signed an agreement to acquire approximately 96% share of Axiom Materials Inc. (Santa Ana, Calif., U.S.), total enterprise value of USD 181 million, which provides advanced composite for aerospace and industrial applications. The consummation of the acquisition is subject to customary closing conditions, including certain U.S. government approvals. 

In 2018, Kordsa expanded its reinforcement areas and competencies, bolstering its position among the key suppliers of the growing aerospace industry, with the acquisition of Fabric Development, Textile Products and Advanced Honeycomb Technologies.

“We continue our growth moves in the composite technologies that we entered with our first investment in 2013,”  explains Kordsa Chairman, Cenk Alper. “We realized Composite Technologies Center of Excellence investment in 2016. As part of our inorganic growth targets, following the acquisition of three composite firms in 2018, we have taken the necessary steps to acquire yet another composite company based in the U.S. In order to leave behind long approval processes in aircraft parts and space vehicles, we set out to acquire Axiom Materials, an approved supplier for aerospace industry. With this acquisition, we will lead the advanced composite technologies for the next generation industrial and transportation applications, as well as the aerospace industry.”

Kordsa CEO Ali Çalışkan adds, “We take firm steps toward our goal to build a second Kordsa, and with each passing day, we expand our competencies. While reinforcing two out of every three aircraft tires and one out of every three automobile tires with our tire reinforcement technologies, thanks to our recent investments in composites, now we also reinforce the interiors, fuselages, wings and engines of these aircraft.”