Kordsa Reaches Cooperation Agreement with Toledo Solar Inc

Kordsa, a subsidiary of Sabancı Holding and leader in tire, composite technologies and construction reinforcement, has signed a strategic partnership agreement with US-based Toledo Solar Inc, an Ohio-headquartered next-generation thin-film solar panel manufacturer. According to a company statement, through this partnership with Toledo Solar, Kordsa has obtained priority rights to operate Toledo Solar technology across Europe and Central Asia, starting from Turkey and Central Europe. With the new strategic partnership, Kordsa will position all-glass, thin-film technology solar modules with low carbon footprint and recyclability characteristics as an ideal solution for rooftops of homes, businesses and factories across Europe. The partnership will also enable Kordsa to facilitate the wider adoption of solar energy in Europe's large-scale solar power plants and the rapidly growing floating solar panel sector, as well as in the building, automotive and agricultural sectors. [caption id="attachment_145959" align="aligncenter"] Image Source: https://www.aa.com.tr/tr/sirkethaberleri/sirketler/kordsa-dan-yeni-nesil-ince-film-gunes-panelleri-ureticisi-toledo-solar-inc-ile-stratejik-is-birligi/676220[/caption]

Ibrahim Özgür Yıldırım, Chief Executive Officer of Kordsa, stated in the announcement that they are deeply committed to sustainable living commitments and continued as follows:

'We are actively pursuing opportunities in advanced materials that protect our environment. We have seen that Toledo Solar's management philosophy and technology align with Kordsa. We look forward to bringing our objectives to life.'

Aaron Bates, Chairman and Chief Executive Officer of Toledo Solar Inc, noted that they are excited about the partnership with Kordsa and continued his remarks as follows:

'Kordsa is a highly valuable business partner to us with its unique expertise in establishing and maintaining high operational excellence, human resources development, and environmental management standards. This strategic partnership will contribute to strengthening Europe's growing energy independence and resilience. We look forward to collaborating with Kordsa to enhance the solar energy capacity and energy independence of Europe and Central Asia.'       Kordsa, a global player in the tire and construction reinforcement and composite technologies markets, serves with 13 production facilities in 6 countries—Turkey, Brazil, Indonesia, Thailand, the United States and Italy—with over 5,000 employees. With its mission to "Strengthen Life," it aims to create sustainable value by providing innovative high-value-added reinforcement solutions to all stakeholders and the communities in which it operates. Globally, with tire reinforcement technologies, it reinforces 1 out of every 3 automotive tires and 2 out of every 3 aircraft tires. While developing environmentally friendly products in the tire sector that reduce fuel consumption and provide better grip, it develops technologies in the composite sector that make vehicles lighter and enable them to perform with lower fuel consumption and reduced carbon emissions. In the construction sector, it touches every aspect of life with more durable and practical reinforcement solutions for infrastructure and superstructure projects.     Source