Turk­ish com­pany buys US-based com­pos­ite pro­ducer

Dünya Executive - - OVERVIEW -

monthly ba­sis, the in­dex was val­ued at 56.5, down over one point ver­sus the pre­vi­ous month, TurkS­tat an­nounced. In June, the con­sumer con­fi­dence in­dex rose 4.3 per­cent to 57.6 from 55.3 in May. In July, the in­dex for gen­eral eco­nomic sit­u­a­tion ex­pec­ta­tions de­creased to 73.4, from 73.9 in June. The fi­nan­cial sit­u­a­tion ex­pec­ta­tion of house­hold in­dex dropped by 1.7 per­cent to stand at 77 in June, ver­sus the pre­vi­ous month. “The prob­a­bil­ity of sav­ing in­dex, which was 22 in June, de­creased by 9 per­cent to 20 in July,” the In­sti­tute said. The em­ploy­ment ex­pec­ta­tion in­dex also fell by 1.3 per­cent to stand at 55.6 month-on-month in July. the se­cond half of this year.” Gur added that the in­fla­tion rate was drop­ping rapidly and could reach sin­gle dig­its in Septem­ber-Oc­to­ber. Turk­ish tire and con­struc­tion re­in­force­ment com­pany Kordsa has bought the U.S.-based com­pos­ite ma­te­rial pro­ducer Ax­iom Ma­te­ri­als for $181 mil­lion. Kordsa - a sub­sidiary of Turkey’s lead­ing con­glom­er­ate Sa­banci Hold­ing - said in a press re­lease on July 24 that the lat­est move raised its po­ten­tial for cre­at­ing new prod­ucts. Pre­vi­ously, Kordsa bought another three U.S. com­pa­nies - Fab­ric De­vel­op­ment, Tex­tile Prod­ucts and Ad­vanced Hon­ey­comb Tech­nolo­gies - over the last two years. Ali Caliskan, the CEO of Kordsa, said the com­pany will start to re­in­force planes’ en­gines af­ter their tires, wings and bod­ies thanks to Ax­iom Ma­te­ri­als’ tech­nol­ogy.

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