Kordsa Invests TRY 100 Million in Additional Polyester Yarn Line

To meet increasing polyester yarn demand, Kordsa, which made an additional polyester yarn line investment in Turkey in 2016 with TRY 100 million, held the opening ceremony for the line. Kordsa, which supplies reinforcement technologies to the global market, had decided in 2016 to invest in additional polyester yarn capacity of 7,000 tonnes each at its Indonesia and Turkey facilities in the tire reinforcement business. Kordsa brought the additional polyester yarn line at its Izmit plant into operation with TRY 100 million investment. With this new line, thanks to the facility's advanced technology, next-generation polyester yarn products with very high strength and better dimensional stability can be produced in addition to standard HMLS polyester yarn.

Kordsa Board Chairman Cenk Alper, expressing wishes that the line, which has been under construction for approximately two years, will be auspicious for Kordsa and Sabancı Holding, stated that Kordsa's innovation strength serves as a source of inspiration for Sabancı Holding.

Alper said, "When we started our journey in 1973, our dreams and goals were big. Today, with the innovative technologies we have developed and our open innovation approach, we have grown from a cord fabric manufacturer in Izmit to a global company that exports technology to the world and has its sights set on space. We support this growth journey with investments we make in our main business line and our Turkey facilities. With these investments we have made and the expansion of our reinforcement areas from tires to reinforcement to composite technologies, we continue with the desire to be a driving force in Turkey's economy and continue to invest and produce. Day by day, strengthening more areas, we are building a stronger future." Kordsa CEO Ali Çalışkan emphasized that the company is advancing step by step toward the goal of creating a second Kordsa through strategic investments it has made in the three business lines in which it operates. Çalışkan said, "While we reinforce one in every three automobile tires and two in every three aircraft tires in the world, with recent investments, we have become able to touch every area of life. Today, with Kordsa technologies, we reinforce aircraft tire, wing, engine, fuselage, interior, and even the runways on which they land. With this investment we have implemented, by achieving leadership in polyester yarn as we have in nylon yarn, we have reinforced our position among the world's largest polyester yarn producers. We maintain our global leadership with an open innovation approach that creates value for our customers and brings innovations that shape the sector."