DowAksa to invest $1 billion in carbon-fiber technologies

04/30/2013 | Bloomberg

Dow Chemical's DowAksa Advanced Composites joint venture with Turkish firm Aksa Akrilik Kimya Sanayii aims to invest $1 billion in carbon fiber for the next five years. DowAksa is seeking partnerships with Russian firms and could look for U.S. partners in the future. "The investment may rise to $1.5 billion by 2022, when the global carbon fiber composite market is expected to reach $40 billion. The investment projection includes all ventures we want to have abroad," said DowAksa CEO Mithat Okay.

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