Dow Aksa form carbon fibre derivatives JV in Turkey

Dow and Aksa form carbon fibre and derivatives JV in Turkey

2:40 AM, 20th December 2011
Dow and Aksa form carbon fibre and derivatives JV in Turkey
Andrew Liveris, Chairman and CEO, Dow Chemical.

MIDLAND, US/ISTANBUL, TURKEY: Dow Chemical, through its wholly-owned subsidiary Dow Europe GmbH and Aksa Akrilik Kimya Sanayii AS will form a joint venture to manufacture and commercialize carbon fibre and derivatives. The joint venture will develop and globally market a broad range of products and technical service support in the rapidly expanding carbon-fibre based composites industry.

Dow and Aksa will each hold a 50 per cent stake in the joint venture. Total investment in the project, is expected to reach $1 billion in five years. “Together our companies will apply science, world-class manufacturing capabilities and technical expertise to deliver innovative solutions that address some of the world’s most pressing challenges, such as increasing the energy capture of wind turbines, improving the fuel economy of automobiles and extending the life of roads and buildings,” said Andrew Liveris, Chairman and CEO, Dow Chemical.

“Carbon fibre composites, which will replace metal as the material of the future, have significant importance for fundamental industries in Turkey. The venture will enable Aksa and Dow to expand their joint investment targets and create significant economic value for Yalova,” said Mehmet Ali Berkman, CEO, Akkok Group.

The joint venture will leverage Dow’s expertise in composites technology, formulation and technical service as well as market knowledge and channels. Upon completion, the joint venture will be carbon fibre composites industry’s only large-scale, full-service, integrated solution provider, serving the emerging needs of the world’s leading industries. Currently, the carbon fibre composites industry is estimated at $10 billion globally and is expected to reach $40 billion by 2022.

(C) WOC News

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