Kordsa acquires Axiom Materials
The company says that it has now completed the first phase toward its growth goals in the advanced composites industry.
Source | Sabancı Holding
Kordsa (Istanbul, Turkey), a subsidiary of Sabancı Holding, recently announced the acquisition of Axiom Materials (Santa Ana, Calif., U.S.), for $181 million. Kordsa says that this investment makes the company the only worldwide qualified manufacturer of Oxide-Oxide ceramic matrix composites.
With the acquisition of Axiom Materials, Kordsa says it has completed the first phase of its goal to build a second Kordsa in composite technologies, and that this alliance will strengthen its ability to develop new products. Axiom Materials’ composite products, used especially in aircraft engines, have applications in a variety of industries.
In alignment with its growth goals, Kordsa also recently established the Composite Technologies Center of Excellence, conjointly developed with Sabancı University, and in 2018 the company acquired the companies Fabric Development Inc., Textile Products and Advanced Honeycomb Technologies, to advance composite materials to the aerospace industry.
“With this investment, we will create a growth platform in North America, the aerospace hub.”
“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 says Cenk Alper, president of Sabancı Holding Industrials Group and chairman of 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. ”
“With the acquisition of Axiom Materials, providing advanced technology composite materials to the next generation transportation vehicles as well as the aerospace industries and leading the composite market through its R&D studies, we have expanded our expertise in the field of composites and finalized the portfolio of advanced composite intermediates,” says Ali Çalışkan, CEO of Kordsa CEO. “I am both proud and excited for the days ahead. After the tires, wings, hulls and the interior of the aircrafts, Kordsa will also reinforce aircraft engines. "