France-based technical textile and composites manufacturer Porcher Industries has acquired Cordtech International, which specializes in processing and treatment of industrial fibres for the automotive industry, from investment firm RDC15. The purchase of Cordtech will reportedly allow Porcher Industries to strengthen its offering through the existing technical, sales and R&D synergies between the two organizations.
Also Read – German textile association highlights importance of textiles for automotive industry
Additionally, through this acquisition the company has got the opportunity to fortify its presence in the automotive world and confirm its unique worldwide position in transmission belt reinforcements.
“This acquisition is a development opportunity. We are also looking for talents for the various positions that represent the Porcher Industries Group. Our Group is a diamond in the rough, with huge potential in terms of innovation and market coverage. We now need to polish it, and reveal its various facets,” said Executive Board President, André Genton, Porcher Industries.
Also Read – South Korean automotive component supplier deploys Lectra FocusQuantum® OPW
Porcher Industries’ global activity in the automotive market fetches over US $ 100 million of annual revenue. The company offers a range of varied products for airbags, exhaust systems, chassis, brake hoses and transmission belts.
