In 2019, the Industry Group companies launched successful practices that will lead their sectors in our country through commercialization of innovation, lean practices, advanced data analytics and Industry 4.0.
GROWTH IN COMPOSITE TECHNOLOGIES MARKET
In 2019, Kordsa, one of the Industry Group Companies, took over Axiom Materials in the USA and continued to grow in the composite technologies market.
Tire reinforcement technologies of Kordsa reinforce one out of every three automobile tires, and two out of every three airplane tires in the world; it has recently made investments in the composite segment and today it can reinforce visual and structural cabin parts of these airplanes as well as airframes, wings and engines. Furthermore, these investments enable the company to supply advanced composite materials to the aviation, defense and aerospace industries as well as companies developing next generation technologies. In the construction reinforcement segment, the company uses the first local fiber accessories produced in the market for infrastructure and superstructure reinforcement projects.
Priorities in 2019
The Industry Group focused on work safety, quality, productivity, working capital and cash management in its main business segments throughout 2019 as well as improving and expanding healthy growth and competencies, and launching new technologies and new collaborations. The company decided to shut down its operations in a number of business segments in 2019 meanwhile invested in and expanded other operations in line with its dynamic portfolio management goal.
Kordsa reinforces one out of every three automobile tires, and two out of every three airplane tires in the world, and its position as the market leader, strong global footprint, leadership in technology as well as its experience in reinforcement technologies are supported with the goal of creating a second Kordsa.
In 2019, Kordsa took over Axiom Materials in the USA and continued to support its organic growth in the composite technologies market with inorganic growth. The company’s journey in the aviation sector started with Fabric Development and Textile Products that produce structural materials requiring advanced engineering skills, and then the company’s competencies were expanded by taking over Advanced Honeycomb Technologies which produces internal cabin parts. Kordsa created a growth platform in North America, known as the base of aerospace and aviation industry, by taking over Axiom Materials.
Axiom Materials Company supplies materials for next generation transportation vehicles as well as the aerospace and aviation industries, and guides the composite market with its R&D studies. After taking over Axiom Materials, Kordsa has become the leading player in the high temperature resistant oxide – oxide ceramic composite materials market used for airplane engines.
In the global markets, Kordsa enhances its power and leading position in its main business segment, namely tire reinforcement, and also continues strategic and visionary composite technology investments.
The financial outcomes of Kordsa were as expected. In 2019, the total turnover increased by 30 % compared to the previous year and it reached 5.1 billion TRY; the company’s profit for the year increased by 17 % and reached 614.3 million TRY. In 2019, Kordsa exported to 38 countries and increased its exportation figures by 15 %.
Technology and investments
Tire Reinforcement Investments
In 2019, Kordsa commissioned the additional polyester yarn line and started to produce ultrahigh-strength new generation polyester yarns with superior dimensional stability as well as the standard HMLS polyester yarn.
Composite Technology Investments
Axiom Materials Company supplies advanced technology composite materials not only to the aerospace and aviation industries but also to the next generation transaction vehicle industry as well as guiding to composite market with its R&D studies, and Kordsa took over this company in 2019. After this acquisition, Kordsa is able to reinforce airplane wings, airframes and interior accessories as well as reinforcing airplane tires.
Construction Reinforcement Investments
Polypropylene monofilament line to be used in the field of construction reinforcement technology was commissioned in June 2018 and this distinguished the company from its rivals in the market; the company expanded its product range with user friendly, durable and high performance products.
Our mission is to develop environment friendly and sustainable products
Kordsa’s mission is to develop more sustainable products for the tire reinforcement technologies and this mission has encouraged the company to work on a resorcinol & formaldehyde free and environment friendly adhesive formula.
Kordsa is one of the greatest supporters of open innovation, as proven with its mission, and the company combined its extensive knowledge and expertise in this field with Continental company, one of the key players in the tire sector. With this environment friendly formula known as Cookoon, Kordsa created an alternative for the formula used in the market for almost a century; this formula has become very popular in the sector and the company leaded the sector by creating a free licensing pool with open innovation approach. Production of the first 250.000 tires with Cokoon adhesive technology has started; the plan is to increase this quantity in 2020 and later.
Furthermore, Kordsa and Ford Otosan developed a ground-breaking e-glass prepreg for lightening heavy commercial vehicles over 16 tons. Horizon 2020 program aims to offer innovative technologies for recycling plastics, and the company is still one of the project partners of PolySPRIE project which is an initiative of this program. In 2019, Kordsa Turkey facilities received 16949: 2016 Automotive Management System certificate.
Kordsa performs advanced data analytics based optimization works at the production sites and this has increased productivity of the yarn facility by more than 3 % and the spinning facility’s energy saving was over 10 %.
Construction reinforcement technology is one of the new business segments of Kordsa, and synthetic fiber fittings are preferred in infrastructure and superstructure projects for their energy efficiency, durability and low carbon emission.
Carbon Disclosure Project (CDP) is the only independent organizations that globally reports carbon and water related risk of companies and 2019 assessment of CDP increased Kordsa’s grade from C-, which is the first and bottom step of Climate Change Report Awareness Level, to B, which is the second and highest step of Management level. Water Safety Report grade of Kordsa is still B and it has managed to be one of the global pioneering companies in management of carbon emissions and water.
Kordsa has received several prestigious awards for and proven its global success in innovative technologies, human resources practices and work ethics. In addition to the national awards won by the company, the company was on the best employers of the year list, which is a list released by the “Great Place to Work Institute” in Bahia Region of Brazil, four times in a row and also received the “Best Personnel” award two times in a row in Indonesia.
Kordsa hopes to empower its community in any country it operates and therefore it continued social responsibility activities in four continents in 2019.
Priorities and sector strategy in 2020
The Industry Group will become more competitive in its current operations by using new generation technologies such as Industry 4.0, digitalization, advanced data analytics and artificial intelligence based robotics studies in the upcoming period and it plans to realize its vision of shaping the future by seizing high value business opportunities such as energy storage, printable flexible electronics and thin film technologies by using electro-mobility and competencies in material science.
Kordsa, encouraged by its competence in technology and product development, aims to grow in all regions of operation. In 2020, the priorities of Kordsa include accelerating its growth through integration of US composite investments, improving its position in the European composite value chain and developing new and innovative technologies with its R&D approach, which is an essential element of its corporate culture, and the company’s goal is to lead and guide its sectors and incorporate digitalization and robotic systems in its operational processes. Through the vision of “We are inspired to reinforce life”, Kordsa aims to use the natural resources in a balanced manner and create sustainable value for all stakeholders.
To find out more, please visit: http://www.kordsa.com/