Company News

Carbon fibre joint venture

The joint venture will develop and globally market a broad range of products used in a variety of sectors such as wind energy, construction, transportation, and infrastructure, where weight savings, emissions reduction, durability and energy efficiency are key performance factors. Currently, the carbon fibre composites industry is estimated at US$10 billion globally and is expected to reach US$40 billion by 2022.

Following initial equity investments from the two companies, the JV will finance its growth through cash flow from operations and financial institutions. The JV will expand on Aksa's existing carbon fibre production assets in Yalova, Turkey, and will capture growth by creating a large-scale, integrated production capability for the manufacture and supply of advanced carbon fibre technologies. The venture will have a particular focus on bringing solutions to market that reduce overall costs, thereby enhancing economics and driving adoption in a broader array of markets.

Turkey is the second biggest acrylic fibre market in the world, and Aksa has not only a leading position in technical fibre and capacity in acrylic fibre but has also achieved an important position in the international market with the carbon fibre, said the company.