June 6, 2025 11:46

U.S.-based Dow has reached an agreement to sell its 50% share in DowAksa Advanced Composites Holdings to joint venture partner Aksa Akrilik Kimya Sanayii (part of Akkök Holding), one of the world’s leading acrylic fiber producers.
The two companies established the JV in 2012.

Dow's proceeds from the sale are expected to be $125 million, which reflects, after accounting for debt, an enterprise value of approximately 10 times the estimated 2025 operating EBITDA.

The move aligns with Dow’s strategy to focus on higher-value, downstream core businesses, the company said. Proceeds from the sale will support its balanced capital allocation approach.

DowAksa produces carbon fiber–based composites through a fully integrated value chain—from acrylic precursor to final products such as carbon fiber (as the only Turkish manufacturer), prepregs, laminates and pultruded profiles. Key end-use markets include aerospace, automotive, marine, sporting goods, infrastructure and wind energy.

The transaction is expected to close in the third quarter of 2025, pending regulatory approvals and customary closing conditions.

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