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.
Emphasis will be on bringing cost-effective solutions to
industrial market applications for energy, transportation, and
global infrastructure, officials said.
Strong and lightweight, carbon-fiber based materials are
used in a variety of applications in growth industries, where
weight savings, emissions reduction, durability, and
energy efficiency are key performance factors.
Currently, the carbon fiber composites industry is estimated
at $10 billion globally and is expected to reach $40 billion by
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
Aksa and Dow each hold a 50% stake in the JV, which will
finance its growth through cash flow from operations and
The formation of this JV is another demonstration that
Dow is advancing its innovation and growth strategy and our
commitment to pursue high-value, innovation-rich sectors
through strategic partnerships, said Dow CEO Andrew
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.