Kordsa to enter Asia with Branta Mulia purchase

Istanbul, Turkey - Kordsa, the Turkish tyre cord maker, intends to buy a controlling stake in competing supplier, PT Branta Mulia Tbk, based in Indonesia.

The offer is currently at letter of intent stage, but if completed, will bring Kords’a global turnover to over $1000 million (€750 million), said Kordsa’s parent, Sabanci group, in a statement.

The statement continued, ““The Kordsa Global which wants to buy the majority shares of the Branta Mulia Tbk that has a current turnover worth USD 170 million and is one of…

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