Kordsa Produces Fabric for NASA

Kordsa, while continuing to create value for shareholders in the third quarter of 2020, has added another competency to its reinforcement portfolio. Fabric Development, one of Kordsa's US-based companies, is producing fabric for NASA's multipurpose spacecraft Orion. Reinforcement leader Kordsa maintained business continuity across all geographies where it operates through its strategic decisions and reinforcement technologies, even as the economic effects of the COVID-19 pandemic continued to be felt worldwide. In the first nine months of the year, Kordsa's revenue reached TRY 3,086 million, while net profit was TRY 94 million. In the same period, earnings before interest, taxes, amortization and depreciation totaled TRY 363.9 million. Following acquisitions in the US in 2018 and 2019 in the composites field, Kordsa has completed its product portfolio in this area and now serves a wide range extending from tire reinforcement to the aerospace industry. Focused on technological innovation for added-value and sustainable growth, Kordsa has also entered into a significant partnership for the aerospace industry. The composite structure of the orange balloons used in the Orion capsule—the spacecraft that will carry astronauts to and bring them back from the farthest distance traveled to date—has been entrusted to Kordsa. Fabric Development, one of Kordsa's US-based companies, has begun weaving this fabric, which it first produced in 2011 under the name Style 2150 and which will also be used in the Orion capsule. Through this partnership, Kordsa has strengthened its reinforcement vision extending to space. Commenting on the third quarter results, Kordsa CEO Ali Çalışkan said: "Thanks to our strong corporate structure and effective process management, we are maintaining our stability during an economically challenging period. With our agile organization, we have taken effective action in working capital management and continued to generate cash. We will continue to meet market demand and grow through prudent investments. In line with our vision of reinforcing every aspect of life, we are continuing our innovations, partnerships and investments that will contribute to our sustainable growth. A spacecraft planned to travel to the farthest distance reached to date, Orion, will also bear Kordsa's signature. This is a development that brings pride and excitement for both Kordsa and our country."