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Dow and Aksa Akrilik to form a joint venture

December 21/2011

(BUSINESS WIRE) -- The Dow Chemical Company, through its wholly-owned subsidiary Dow Europe GmbH, and Aksa Akrilik Kimya Sanayii A.S signed a definitive agreement to form a joint venture to manufacture and commercialize carbon fiber and derivatives.


The joint venture will develop and globally market a broad range of products and technical service support in the rapidly expanding carbon-fiber based composites industry. Very strong and lightweight, carbon-fiber based materials are used in a variety of applications in growth industries such as wind energy, construction, transportation, and infrastructure, where weight savings, emissions reduction, durability and energy efficiency are key performance factors.


Under terms of the agreement, Dow and Aksa will each hold a 50 percent stake in the joint venture. Following initial equity investments from the two companies, the JV will finance its growth through cash flow from operations and financial institutions. Total investment in the project, including third party investments, is expected to reach USD1 billion U.S. dollars in five years and create up to 1,000 employment opportunities.


The JV will expand on Aksas existing carbon fiber production assets in Yalova, Turkey, and will capture growth by creating a large-scale, integrated production capability for the manufacture and supply of advanced carbon fiber technologies. The venture will have a particular focus on bringing solutions to market that reduce overall costs, thereby enhancing economics and driving adoption in a broader array of markets.


mrcplast.com

Author:Marina Ivanova
Tags:Dow.
Category:General News
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