Axiom Materials Acquired by Kordsa

Kordsa acquires US-based Axiom Materials, which supplies composite materials for next-generation vehicles, for USD 181 million. Sabancı Holding Chief Executive Officer Mehmet Göçmen: "We have created a business unit exceeding USD 150 million annually. With our new investments, Kordsa is moving into a competitive position in ceramic matrix composites in the global aerospace industry. This important acquisition, which reflects our approach as Sabancı Group to managing our operations to universal standards, will also support our country's development in international markets." he said. Sabancı Holding Industrial Group Chairman and Kordsa Board Chairman Cenk Alper expressed his thoughts as follows: "In our aerospace sector journey that began with Fabric Development and Textile Products, which produce high-engineering structural materials, our capabilities expanded further with the acquisition of Advanced Honeycomb Technologies, which manufactures cabin interior parts. Thus, with the Axiom Materials investment, we will create a growth platform in North America, the hub of the space and aerospace industries." he said. Source: Milliyet