Shandong Dawn Polymer Co., Ltd. signed an agreement to acquire remaining 25% stake in Qingdao Runxing Plastic New Material Co., Ltd from Foreeach International Engineering for CNY 15 million.
June 14, 2017
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Shandong Dawn Polymer Co., Ltd. (SZSE:002838) signed an agreement to acquire remaining 25% stake in Qingdao Runxing Plastic New Material Co., Ltd from Foreeach International Engineering for CNY 15 million on June 14, 2017. Under the terms of the agreement, the entire consideration will be paid within 30 days from the effective date of agreement. After the completion of this transaction, Shandong Dawn Polymer will directly hold a 100% stake in Qingdao Runxing Plastic New Material and Qingdao Runxing Plastic New Material will become a wholly owned subsidiary of Shandong Dawn Polymer. Qingdao Runxing Plastic New Material reported net assets of CNY 56.6 million as of December 31, 2016. Board of Directors of Shandong Dawn Polymer Co., Ltd. approved the transaction on June 14, 2017.
Shandong Dawn Polymer Co., Ltd. is a China-based company mainly engaged in the research and development, manufacture and sales of polymer composites. The Company operates through two business segments: Modified Plastics and Thermoplastic Elastomers Production and Operation segment and the Color Concentrate Production and Operation segment. The Companyâs products consist of modified plastics, including reinforcing and toughening modified plastics, flame-retardant modified plastics, high gloss modified plastics and others, as well as dynamic fully vulcanized thermoplastic elastomers and masterbatch products, including special masterbatch and multifunctional masterbatches. The products are applied to automobiles, home appliances, electronics, office equipment, aerospace, health and other areas. The Company distributes its products within domestic market and to overseas markets.
Shandong Dawn Polymer Co., Ltd. signed an agreement to acquire remaining 25% stake in Qingdao Runxing Plastic New Material Co., Ltd from Foreeach International Engineering for CNY 15 million.
SHANDONG DAWN POLYMER CO.,LTD. 
