ISTANBUL, Turkey (Dec. 7) — Turkish tire cord maker Kordsa International L.L.C. has bid to buy a controlling stake in competing supplier, P.T. Branta Mulia Tbk. of Indonesia.
The as-yet undisclosed offer, if completed, would bring Kordsa´s global sales to more than $1 billion, according to Sabanci Group, Kordsa´s parent company.
Jakarta, Indonesia-based Branta Mulia reports annual sales of $170 million and is considered a leading supplier of nylon and polyester yarn and processed tire cord fabric in Asia, according to Sabanci. It operates two plants in Indonesia and one in Thailand.