Turkey-based Kordsa has acquired commercial aviation industry composite suppliers Fabric Development Inc. (FDI) and Textile Products Inc. (TPI) as part of a $100 million investment to strengthen its composite market position in the United States.
Kordsa has acquired Fabric Development Inc. and Textile Products Inc., which provide advanced composite materials to the commercial aviation industry, for approximately $100 million.
Kordsa Global, a subsidiary of Sabanci Holding, has acquired Fabric Development, Inc. and Textile Products, Inc., leading providers of advanced composite materials for the aerospace sector. The transaction closed on July 13, 2018.
Turkey's Kordsa announced its US affiliate will buy Fabric Development Inc. (Pennsylvania) and Textile Products Inc. (California) for approximately $100 million. Both companies supply composite materials to the aerospace industry.