Dow Chemical’s subsidiary, Dow Europe, and Aksa Akrilik Kimya Sanayii have inked a memorandum of understanding to establish a joint venture for the production and commercialization of carbon fiber and derivatives.
Dow and Aksa executives sign MOU to form JV
As per the deal, Dow Europe and Aksa, which produces carbon and acrylic fibers, will jointly identify the chances to develop and distribute an extensive range of products and technical services in the carbon fiber-based composites market.
Carbon fiber-based materials are lightweight and ultra strong, and are utilized in a number of industries, including infrastructure, transportation and wind energy that demand performance properties such as energy efficacy, durability and weight savings.
According to the Chairman and Chief Executive Officer at Dow, Andrew N. Liveris, Dow and Aksa will jointly employ their technical experience, production capabilities and science to offer advanced solutions that meet the global challenges such as increasing the life of buildings and roads, enhancing fuel efficiency of automobiles, and improving the energy capture of wind turbines.
The EVP and Chief Commercial Officer at Dow, Heinz Haller commented that there is a growing demand for advanced technologies that produce lightweight and robust materials. Aksa Board Member, Mustafa Yilmaz, stated that the company is happy to collaborate with Dow and the partnership will help expand Aksa’s global supply of carbon fiber-based products.