Kordsa acquires Axiom Materials for USD 181 million
On 24th July, Kordsa Teknik Tekstil (Istanbul, Turkey), a subsidiary of Sabanci Holding and a global player in the reinforcement technologies market, announced the acquisition of Axiom Materials (Santa Ana, California, US) for USD 181 million. Kordsa says that this investment makes the company “the only worldwide qualified manufacturer” of Oxide-Oxide ceramic matrix composites.
Widely used in aircraft engines, the value-added materials produced by Axiom Materials have different applications in various industries and are considered as the material of the future. With the acquisition of Axiom Materials, Kordsa has completed the first phase of its goal to enhance the company’s presence in composite technologies. This acquisition, which is critical to developing Kordsa’s competencies in strategic and high growth areas, strengthens their potential to develop new products.
“We took the first step of our growth strategy with the Composite Technologies Center of Excellence, one of the few integrated production centers in the world,” says CenkAlper,President, Sabancı Holding Industrials Group and Chairman, Kordsa. “Our journey went ahead in aerospace industry with Fabric Development and Textile Products, which produce highly-engineered structural materials; our competency has expanded with the acquisition of Advanced Honeycomb Technologies, which produces advanced materials for cabin interior parts. With this investment, we will create a growth platform in North America, the aerospace hub. ”