The Dow Chemical Co. (Midland, Mich.), through its wholly owned subsidiary Dow Europe GmbH (Horgen, Switzerland), and Aksa Akrilik Kimya Sanayii AS (AKSA, Istanbul, Turkey) announced June 6 a Memorandum of Understanding (MOU) with the intent to form a joint venture to commercialize carbon fiber and derivatives.
Under the MOU, the companies will work together to find opportunities to manufacture and supply carbon fibers and to develop and market globally a range of products and technical services in the carbon fiber-based composites industry.
Says Dow chairman and CEO Andrew N. Liveris, “Together, AKSA and Dow will apply science, world-class manufacturing capabilities and technical expertise to deliver innovative solutions that address some of the world’s most pressing challenges such as increasing the energy capture of wind turbines, improving the fuel economy of automobiles, and extending the life of roads and buildings.”
“Today, the fiber composite market is experiencing tremendous growth on a global scale and ... they need suppliers that combine reliability, technical expertise and affordability,” says Mustafa Yilmaz, AKSA board member. “As the world’s largest producer of acrylic fibers and a carbon fiber producer since 2008, AKSA is very excited about the opportunity to ... expand our carbon fiber-based product offering worldwide.”