Kordsa Global

active

Established in 1973, Kordsa Teknik Tekstil AS, formerly Kordsa Global Endustriyel Iplik ve Kord Bezi Sanayi ve Ticaret AS. and its subsidiaries (“Kordsa” or the “company”- https://www.kordsa.com/en/), is a Turkey-based global player in the production of: i). industrial nylon and polyester yarn, tire cord fabric, single-end cord used in automotive tires, rubber parts, transmission and conveyor belts; ii) macro and micro synthetic fiber reinforcements for construction industry; and iii) prepregs and fabrics with different reinforcement materials such as carbon, glass and aramid for the composite industry. The main manufacturing processes of these diverse products entail the following operations: drying of raw material; spinning and drawing; twisting and weaving; moulding, dipping of fabric/yarn in a latex solution (resin) and drying in ovens. Kordsa operates in 12 production facilities in 5 countries, namely, Turkey, Brazil, Indonesia, Thailand and the United States (US). The company also has two research and development (R&D) centers in Turkey: the Global Technology Center (GTC) which is located in the facility situated in Izmit and the Composite Technologies Center of Excellence (CTCE) which is located in TeknoPark Istanbul. Currently, the R&D facilities have several laboratories in operation i.e., an advanced composite production lab, polymer process lab and chemical lab amongst other. IFC has had investments with Kordsa since the late 1990’s and invested in a number of Kordsa’s companies, including:Sakosa #9376 in 1999 (https://disclosures.ifc.org/project-detail/ESRS/9376/sakosa-sabanci-kosa-endustriyel-iplik-ve-kord-bezi-sanayi-ve-ticaret); Kordsa Brasil #28774 in 2010 and Kordsa Argentina #28899 in 2011 (https://disclosures.ifc.org/project-detail/ESRS/28774/kordsa-global-multi-country); and Nile Kordsa #31441 in 2012 (https://disclosures.ifc.org/project-detail/ESRS/31441/nile-kordsa).  Kordsa is actively expanding its operations in the composite business by supplying high-tech carbon fiber textile solutions mainly for aviation and automotive clients. The IFC investment will consist of a senior unsecured IFC A loan of up to $110 million to support Kordsa’s 2022-2025 investment program which includes financing the increased working capital requirement of the company, scaling up research and development (R&D) activities, acquiring technology, improving operational efficiencies and growing its production capabilities in high margin products (the “Project”).