07 June 2012 13:19 [Source: ICIS news]
LONDON (ICIS)--The European Commission has cleared Dow Chemical’s carbon fibre joint venture with Turkish acrylic fibre firm AKSA (Aksa Akrilik Kimya Sanayii), it said on Thursday.
The Commission said it cleared the deal under the EU’s simplified merger review procedure.
Dow Chemical and AKSA agreed to form the 50:50 joint venture – AKSA Karbon – in December last year. The joint venture will build on and expand AKSA’s existing carbon fibre production assets in ?xml:namespace>
AKSA Karbon is expected to invest $1bn (€800m), within five years, in the production of carbon fibre composites.
($1 = €0.80)
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