Kordsa expands to European market with new composite technologies investment

Kordsa (Izmut, Turkey) a subsidiary of Sabancı Holding (Istanbul, Turkey), is set to acquire the majority shares of the Italian composites company, Microtex Composites Srl (Prato), which provides carbon fiber fabrics and prepregs for marine, motorsport and super-luxury automotive industries in Europe. The additional investment, Kordsa says, continues its transformation into an advanced material company, and also strengthens its position in European markets.

Kordsa had already acquired four composite technology companies in the U.S. and made sizable investments in Turkey. One of these investments is the Composite Technologies Centre of Excellence (CTCE), which opened in 2016, said to be Turkey’s exemplary industry-university cooperation model.

The acquisition of shares from Microtex is expected to be finalized in the second quarter of 2022, subject to the fulfillment of closing conditions required for Italian Golden Power approval (foreign direct investments).

With this investment in composite technologies, Kordsa aims to increase its product diversity, grow its customer base and expand its service range in the automotive and motorsport segments. “As Sabancı Holding, our promise is to unite Turkey and the world through sustainable, pioneering initiatives. With this acquisition, we are taking another big step towards fulfilling this promise,” Cevdet Alemdar, president of Sabancı Holding Industry Group and chairman of the board of directors at Kordsa. He highlights the company’s progress. “This investment with our composite business unit, committed to reinforcing life, will strengthen our global footprint in Europe. In this regard, we will continue to evaluate growth opportunities by developing new sustainable technologies.”

Massimiliano Becagli, managing director of Microtex Composites strongly believes this partnership with Kordsa will strengthen Microtex Composites and further solidify its dynamism internationally.