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(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.
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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.
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The JV will expand on Aksa’s 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
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