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Acrylic fiber producer  (Yalova, Turkey), a subsidiary of Akkök Holding, has taken another step toward its vision of expanding in advanced materials and delivering innovative solutions through the completed acquisition of Dow Europe Holding B.V.’s (Hoek, Netherlands) 50% stake in DowAksa (Gumussuyu/Istanbul, Turkey). With a cash payment of $125 million, Aksa Akrilik has become the sole owner of the business. This transaction places DowAksa’s total valuation at approximately $450 million.

Read “Dow to sell 50% ownership in DowAksa carbon fiber JV” for more info.

Aksa Akrilik entered the carbon fiber market in 2009 and, in 2012, formed the 50-50 joint venture DowAksa with Dow Europe Holdings B.V. Cengiz TaÅŸ, board member of Akkök Holding, and president of the group’s Chemicals and Advanced Materials division, emphasizes that gaining full ownership of DowAksa is a key milestone in Aksa’s transformation into a global player, not only in acrylic fiber production but also in carbon fiber-based advanced material solutions.

“Bringing DowAksa entirely under the Aksa Akrilik umbrella is more than an acquisition; it represents the restructuring of knowledge, expertise and technology in advanced materials,” says TaÅŸ. 

Operating under its new name, Aksa Carbon, the company will be led by Gürcan Koman, vice president of Akkök Chemicals and Advanced Materials Group, who has been appointed as general manager. Koman graduated from Middle East Technical University (METU) in chemical engineering in 2005 and began his career at Aksa Akrilik in 2006. He has held leadership positions in critical areas such as production, R&D and product development. Since 2019, he served as factory director at Aksa. As of January 2025, he has been appointed vice president of Akkök’s Chemicals and Advanced Materials Group.