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Aksa Akrilik Acquires Full Ownership of DowAksa, Rebrands as Aksa Carbon

Aksa Akrilik, a subsidiary of Akkök Holding, has completed the acquisition of Dow Europe Holding B.V.'s 50% stake in DowAksa (Gumussuyu/Istanbul, Turkey) for $125 million...

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Aksa Akrilik, a subsidiary of Akkök Holding, has completed the acquisition of Dow Europe Holding B.V.'s 50% stake in DowAksa for $125 million, implying a total enterprise valuation of approximately $450 million for the carbon fibre joint venture.

DowAksa was established as a 50/50 joint venture between Aksa Akrilik and Dow Chemical in 2012 and has operated in Gumussuyu/Istanbul, Turkey.

Following the acquisition, the company has been rebranded as Aksa Carbon, reflecting its new status as a fully owned subsidiary of Aksa Akrilik.

Cengiz Taş, CEO of Akkök Holding, provided a quote on the strategic rationale for the acquisition and the future direction of Aksa Carbon.

Gürcan Koman has been appointed as the General Manager of the newly rebranded Aksa Carbon entity.

Source: www.aksa.com

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