(hydrocarbonprocessing) -- Dow Chemical and Turkish acrylic fiber company Aksa have formed DowAksa Advanced Composites, a JV to manufacture and commercialize carbon fiber and derivatives. Aksa and Dow each hold a 50% stake in the JV, which will finance its growth through cash flow from operations and financial institutions.
Dow Chemical and Turkish acrylic fiber company Aksa on Friday announced the official formation of DowAksa Advanced Composites, a joint venture (JV) to manufacture and commercialize carbon fiber and derivatives.
Aksa and Dow had previously signed a definitive agreement to form the venture on December 20, 2011.
DowAksa will develop and globally market a broad range of products and technical service support in the rapidly expanding carbon-fiber composites industry, the companies said.
The JV 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.
The JV will expand on existing Aksa 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 companies said.
MRC