Carbon fiber manufacturer DowAksa BV (Yalova, Turkey), a 50/50 joint venture of The Dow Chemical Co. (Midland, MI, US) and Aksa Akrilik Kimya Sanayii A.Ş. (Istanbul, Turkey), reports that it has acquired 50% of prepreg manufacturer c-m-p GmbH (Heinsberg, Germany) to expand its capacity to deliver high-value, carbon fiber-based products for customers in automotive and other industrial applications.
The partnership will allow privately owned c-m-p GmbH to secure long-term and large-scale security of the supply to its customers for the automotive industry as well as aviation, sports equipment and utility services. With the acquisition, DowAksa will become capable of producing prepreg, expanding its value-added product portfolio in the transportation, energy production, construction and sporting goods markets.
“c-m-p is the strong, world-class partner we need to provide the most innovative product solutions to enable integration of carbon fiber composites in many downstream applications” says DowAksa CEO Kostas Katsoglou. “This transaction joins two entrepreneurial partners with the expertise required to quickly meet complex requirements for high volume applications. Together DowAksa and c-m-p can accelerate advanced composites development activities with US and European automotive clients and with partners globally in other market segments.”
The partnership will also enable DowAksa’s growth in Turkey as a composite goods manufacturer, expanding the domestic market for carbon fiber while boosting sales and exports of higher value advanced manufactured products.
“DowAksa has built the first and most important link of the production chain by establishing Turkey’s only carbon fiber manufacturing capacity at our Yalova plant. With the acquisition now complete, the products that will be developed at c-m-p’s plant in Heinsberg, Germany, will also be manufactured on a new prepreg line to be built at Yalova for sale to our global customers,” says DowAksa Turkey GM Mithat Okay.
Rolf Dothagen (co-)founder and future CEO of c-m-p GmbH, states, “We were on the lookout for a visionary investor for c-m-p, to fully leverage a company based on the culmination of our extensive personal experience in the composite industry. DowAksa was an ideal partner due to its global objectives, its broad network and its strong position as a carbon fiber maker. We are excited to bring this partnership to fruition, and believe that we will grow in the industry as a result of the success we will achieve with DowAksa.”
Editor PickGardner Business Index at 54.1 in January
The US composites industry looks as strong as it has since early 2015, with expectations the highest in years.