BOGOT-CITEUREUP, Indonesia (Jan. 26, 2015) — Kordsa Global Endüstriyel İplik ve Kord Bezi Sanayi ve Ticaret A.Ş., the Turkish tire cord producer, has opened a second tire cord fabric and polyester yarn plant in Indonesia in a $100 million investment.
The firm said the investment includes an 18,000 metric-ton-per-year tire cord fabric facility and a 14,000 metric-ton third- and fourth-generation polyester HMLS yarn facility.
Kordsa's combined operations will employ more than 200, located in Bogor-Citeureup — which is on the west part of Java Island.
“With these brand new facilities, we are going to offer added value to our global, regional and local customers by developing special solutions,” Kordsa Global CEO Cenk Alper said.
“With our increased capacity and competencies, high quality standards and determined workforce who have embraced Kordsa Global's core values. We will continue to smoothly satisfy our customers' needs.”
Kordsa claims to be the world's No. 1 nylon 6.6 and polyester industrial fiber and tire cord producer, operating 10 tire cord plants in eight countries, including a nylon yarn plant in Chattanooga, Tenn., and a weaving and curing plant in Lauren Hill, S.C.
Sales in 2013 exceeded $650 million.
The firm said that this second facility in Indonesia is the largest capacity investment for Kordsa Global outside of Turkey.
“Our customers are demanding the best in quality and the latest in technology in order to realize their global ambitions,” Mehmet Pekarun, SBU Industry president of Sabanci Holding and Kordsa chairman, said. “I can clearly say that this region is rapidly becoming the most competitive market in all aspects. Success in Asia is the new definition of global competitiveness.”