Based on a definitive agreement signed on December 20, 2011, Dow, a science and technology company, and Aksa Akrilik Kimya Sanayii, a producer of acrylic fibers, has formed a 50-50 joint venture (JV) to produce and commercialize carbon fibers.
DowAksa Advanced Composites (DowAksa) is the new JV, which will develop and market a wide range of products and services in the fast growing carbon-fiber composites industry.
Lightweight and robust carbon-fiber based materials have a wide range of applications in developing sectors, where energy efficiency, durability, emissions reduction and weight savings are critical performance factors. DowAksa will mainly focus on offering solutions that decrease total costs, while improving economics and encouraging adoption in diverse markets. In addition, it will focus on bringing cost-effective products to global industrial applications, including infrastructure, transportation and energy.
Since 2009, Aksa has been producing carbon fiber in its Yalova Factory. The JV will enable the expansion of existing carbon fiber manufacturing facilities in Yalova, Turkey. In addition, it will help establish a large-scale production capability to manufacture and supply advanced carbon fiber solutions.
Andrew Liveris, Chairman and CEO of Dow, stated that the creation of DowAksa signifies the company’s commitment to reach high-value, innovation-rich industries via strategic collaborations. Both the companies will integrate their technical expertise and world-class manufacturing capabilities to meet demanding global challenges, such as improving the life of buildings and roads and enhancing the fuel economy of vehicles.