The Porcher industries Groupe, a French technical textile and composites manufacturer that celebrated a century of producing world class fabrics for global industry announced acquisition of Cordtech International from the investment company RDC15. Cordtech International specializes in the processing and treatment of industrial fibers for the automotive industry.
The acquisition of Cordtech International â€“ the first by the group in France since 1989 â€“ enables Porcher Industries to strengthen its offering through the existing technical, sales and R&D synergies between the two companies. Porcher Industries underlines its aim to develop one of its principal market : the automotive market.
Porcher Industriesâ€™ worldwide activity in the automotive market generates more than $100 million of annual revenue. The company offers a range of varied products for airbags, exhaust systems, chassis, brake hoses and transmission belts. Through this acquisition, the group has the opportunity to reinforce its presence in the automotive world and confirm its unique worldwide position in transmission belt reinforcements.
Porcher Industries and Cordtech International have each worked within corresponding marketplaces and often with the same clients, which made this partnership a natural fit.
Executive Board President, AndrÃ© Genton said that this acquisition is a development opportunity. They are also looking for talents for the various positions that represent the Porcher Industries group. Their group is a diamond in the rough, with huge potential in terms of innovation and market coverage which they now need to polish it, and reveal its various facets.
Porcher industries, is nowaday an international group dedicated to the development and production of innovative products, combining textiles and chemistry for multiple industrial application for many markets.
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