Dow and Aksa form carbon fiber JV

1 min read
The companies will address the challenge of improving the fuel economy of automobiles.
The companies will address the challenge of improving the fuel economy of automobiles.

The Dow Chemical Company through its wholly-owned subsidiary Dow Europe Holding BV, and Aksa Akrilik Kimya Sanayii have formed DowAksa Advanced Composites Holdings BV, a joint venture (JV) to manufacture and commercialize carbon fiber and derivatives.

Aksa and Dow had previously signed a definitive agreement to form the JV in December 2011.

DowAksa will develop and globally market a broad range of products and technical service support in the expanding carbon fiber composites industry. The JV will have a particular focus on bringing solutions to market that reduce costs, driving adoption of the material into a broader array of markets. Emphasis will be on bringing cost-effective solutions to industrial market applications for energy, transportation, and infrastructure globally.

Aksa has been producing carbon fiber since 2009 in its factory located in Yalova, Turkey. The JV will expand on these existing carbon fiber production assets and will capture growth by creating a large-scale, integrated production capability for the manufacture and supply of advanced carbon fiber technologies.

Aksa and Dow each hold a 50% stake in the JV, which will finance its growth through cash flow from operations and financial institutions.

Global challenges

‘Together our companies will apply science, world-class manufacturing capabilities and technical expertise for innovative solutions that address pressing global challenges, such as improving the fuel economy of automobiles, and extending the life of roads and buildings,’ said Dow chairman and CEO Andrew Liveris.

‘Already a world leader in acrylic fiber, Aksa took steps in 2011 in the carbon fiber sector with the target of increasing market share through investment in manufacturing capacity and productivity,’ said Akkök group of companies CEO and Aksa board chairman Mehmet Ali Berkman. ‘With the formation of the joint venture, we are pleased that our carbon fiber technologies and production capabilities in Turkey will be essential to DowAksa’s future as world leader in advanced carbon fiber and derivatives. Carbon fiber composites, which are expected to replace metal as the material of the future, have significant importance in Turkey and around the world for fundamental industries such as transportation (automobile, high-speed train, vessels, heavy vehicles, etc), wind energy technologies and construction, particularly for earthquake-resistant buildings.’

This story uses material from DowAksa, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.