The companies have agreed to explore opportunities in the areas of aerospace, infrastructure, energy, oil and gas, and transportation, and to explore supplying both the Russian and global markets.

The strategy presupposes potential investments in Prepreg-ACM and Nanotechnology Centre of Composite, HCC and RUSNANO portfolio companies managed by HCC.

“The signing of the MOI on potential manufacturing of carbon fibre intermediates in Russia marks a significant step forward in Dow's innovation and growth strategy, and strengthens our commitment to addressing the needs of growing emerging geographies such as Russia. Collaborating with the strong local players and leveraging DowAksa capabilities, we will contribute Dow's expertise in composites technology, formulation, and technical service as well as global market knowledge and channels.”
Andrew N. Liveris, Chairman and CEO, Dow

Dow and Turkish company Aksa Akrilik Kimya Sanayii AS announced their agreement to form DowAksa, a joint venture to manufacture and commercialise carbon fibre and derivatives, in 2011. Aksa and Dow each hold a 50% stake in the joint venture.

Government owned RUSNANO’s mission is to develop the Russian nanotechnology industry through co-investment in nanotechnology projects with substantial economic potential or social benefit. Holding Company Composite comprises companies producing carbon fibre and carbon fibre-based fabrics and manufactures of prepregs.

This agreement emphasises the intentions earlier outlined in a 2011 memorandum of understanding between Dow and RUSNANO on potential joint projects in the areas of energy efficiency, infrastructure, lightweight materials and life sciences, as well as plans by DowAksa and HCC to consider carbon fibre manufacturing in Russia.

“During 2013 I believe we'll be able to reach strategic agreement on DowAksa's investment in our project and set up the partnership that will promote our products in Russia, the CIS, and international markets,” says Leonid Melamed, CEO of HCC.