MIDLAND, Mich. - Dow Chemical Co. has formed a joint venture with Turkish firm AKSA to manufacture carbon fiber.
Over the next five years, investment in the 50-50 joint venture will total $1 billion. According to Dow, the partnership will employ 1,000 workers and will use AKSA's existing carbon fiber factory in Yalova, Turkey.
Dow, which is based here, had global sales of $53.7 billion last year. AKSA, which is based in Istanbul, is expected to generate sales of $900 million this year.