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DowAksa acquires 50% ownership of prepreg manufacturer c-m-p GmbH

News International-French

15 Dec 2014

New partnership advances global carbon fiber composites manufacturing and services from Turkey and Germany.

DowAksa BV, a 50:50 joint venture of The Dow Chemical Company and Aksa Akrilik Kimya Sanayii A.Ş., acquired 50% of the German prepreg manufacturer c-m-p GmbH to expand its capacity to deliver high-value, carbon fiber-based products for customers in automotive and other industrial applications.

The partnership will allow c-m-p GmbH, one of the few privately owned prepreg manufacturers, to secure long-term and large scale security of the supply to its customers for the automotive industry as well as aviation, sports equipment and utility services, also allowing the company to manage its daily operations independently. With the acquisition, DowAksa will become capable of producing prepreg (resin-coated carbon fabric) in addition to carbon fiber, expanding its value-added product portfolio in the transportation, energy production, construction and sporting goods markets.

“c-m-p is the strong, world-class partner we need to provide the most innovative product solutions to enable integration of carbon fiber composites in many downstream applications” said DowAksa CEO Kostas Katsoglou. “This transaction joins two entrepreneurial partners with the expertise required to quickly meet complex requirements for high volume applications. Together DowAksa and c-m-p can accelerate advanced composites development activities with US and European automotive clients and with partners globally in other market segments.”

The partnership will also enable DowAksa’s growth in Turkey as a composite goods manufacturer, expanding the domestic market for carbon fiber while boosting sales and exports of higher value advanced manufactured products.

“DowAksa has built the first and most important link of the production chain by establishing Turkey’s only carbon fiber manufacturing capacity at our Yalova plant. With the acquisition now complete, the products that will be developed at c-m-p’s plant in Heinsberg, Germany will also be manufactured on a new prepreg line to be built at Yalova for sale to our global customers.” said DowAksa Turkey GM Mithat Okay.

Rolf Dothagen (co-)founder and future CEO of c-m-p GmbH stated, “We were on the lookout for a visionary investor for c-m-p, to fully leverage a company based on the culmination of our extensive personal experience in the composite industry. DowAksa was an ideal partner due to its global objectives, its broad network and its strong position as a carbon fiber maker. We are excited to bring this partnership to fruition, and believe that we will grow in the industry as a result of the success we will achieve with DowAksa.” He said “The partnership will improve the stability of our supply chain further and we will be able to develop specific offer to our customers in industrial and aeronautic applications even on the largest scale. At the same time c-m-p continues to be a highly flexible and independent supplier with the present owners and Management staying on board.”