While Kordsa continued to create value for its stakeholders in the third quarter of 2020, it added another competency to its strengthening area. Fabric Development, one of Kordsa’s companies headquartered in the USA, produces fabrics for NASA’s multi-purpose spacecraft Orion.
While the economic effects of the Covid-19 pandemic continue to be felt all over the world, Kordsa continued to ensure business continuity in all geographies where it operates, with the strategic decisions and reinforcement technologies. In the first 9 months of the year, Kordsa’s turnover was 3,086 million TL and its net profit was 94 million TL. In the same period, the profit before interest, depreciation, tax was 363.9 million TL.
Completing its product portfolio in the field of composites after purchases made in the USA in 2018 and 2019, Kordsa provides a wide range of services from tire reinforcement to the space industry. Focusing on technological innovations for value-added and sustainable growth, Kordsa is also signing a very important cooperation for the space industry. The composite structure of the orange balloons used in the Orion capsule which is the spacecraft that will carry and bring astronauts to the longest distance traveled until today is entrusted to Kordsa. Fabric Development, one of Kordsa’s companies in the USA, started weaving this fabric, which it first produced in 2011 under the name Style 2150 and will also be used in the Orion capsule.
Evaluating the third quarter results of the year, Ali Çalışkan, CEO of Kordsa, said: “Thanks to our strong company structure and effective management of the process, we maintain our stability in an economically challenging period. With our agile structure, we took effective actions in working capital management and continued to cash generating. We will continue to meet the demands of the market and grow with rational investments. We continue our innovations, collaborations and investments that will contribute to our sustainable growth, in line with our vision of strengthening all areas of life. On Orion which is a spacecraft that planned to be sent to the longest distance traveled to date will be the signature of Kordsa. This is an exciting and proud development for both Kordsa and our country.”