After announcing plans to become the
second-largest shareholder of Goss in June 2009, Shanghai Electric
Corp. yesterday announced it plans to exercise its option to take on
100-percent ownership of Goss International in June 2010.
“We are taking this step because Goss International is a market leader with innovative technology and a highly effective global manufacturing, sales and support platform,” stated Xu Jianguo, Chairman of Shanghai Electric Group (SEG). “Full ownership of Goss International enhances our presence in the print sector, our world-class product portfolio and our ability to deliver innovation, value and security to a wider range of printers and publishers.”
SEG owns the Akiyama sheetfed press manufacturing entity, best known for its Jprint line, which Goss began to distribute in North America earlier this year. The company’s printing and packaging machinery division also controls companies that produce Purlux, Guanghua, Yawa, Shen Wei Da and Feida printing and packaging machinery brands.
With 60 primary manufacturing sites,more than 40,000 employees and 2009 revenues of US$8.6 billion, SEG is a large Chinese company with interests outside of the printing sector, including power generation and transmission, electromechanical equipment, heavy machine tools, transportation equipment, environmental protection systems and automatic instrumentation.
Goss and SEG have been working together in China since 1993.
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