Dow and Aksa sign carbon fiber joint venture agreement

The Dow Chemical Company, through Dow Europe GmbH, and Aksa Akrilik Kimya Sanayii A.Ş.,  the world’s largest producer of acrylic fiber, have agreed to form a joint venture to manufacture and commercialize carbon fiber. The joint venture will develop a range of products in the rapidly expanding carbon-fiber based composites industry. Very strong and lightweight, carbon-fiber based materials are used in a variety of applications in growth industries like wind energy, construction, transportation, and infrastructure, where weight savings, emissions reduction, durability and energy efficiency are key factors. The companies expect total investment in the project to reach $1 billion in five years and create up to 1,000 jobs.