Dawn Polymer to acquire 80% of SK synthetic rubber JV in China

Shanghai – Shandong Dawn Polymer Co. Ltd has agreed to acquire an 80% equity stake in Ningbo SK Synthetic Rubber Co, for Yuan516 million (€62 million), the Chinese supplier of rubber and polymers has announced.

In a 10 Dec stock exchange filing, the Chinese group said its board had approved the acquisition from SK Chip Investment (Hong Kong), an affiliate of South Korea’s SK Group.

Upon completion, Ningbo SK will become a controlling subsidiary and be consolidated into Dawn Polymer’s financial statements.

To support continued operations following the ownership change, SK Group will transfer patents, proprietary technologies and trademarks related to Ningbo SK’s products to Dawn Polymer.

As of 30 June 2025, the assessed value of the relevant intellectual property was Yuan64.7 million, with the transfer price capped at that level, Dawn said.

Located in the Ningbo Chemical and Industrial Zone, Zhejiang, China, Ningbo SK is an 80/20 joint venture between SK Geo Centric (formerly SK Global Chemical/SK Innovation) and the Chinese state-owned Ningbo Chemical Development.

According to SK’s website, the plant has an annual capacity to produce 50 kilotonnes of EPDM rubber, used in automotive, construction and industrial applications.

Dawn Polymer said the acquisition would strengthen its elastomers portfolio and expand its industrial footprint in synthetic rubber materials.