Bobst Group and the owner of Gordon Ltd, the Hong Kong based holding company of Shanghai Eternal Machinery Co. Ltd., have signed an agreement on 7 October 2010 by which Bobst Group acquires 65% of Gordon Ltd, with the option to purchase the remaining shares. The owner will remain in the company as managing director and shareholder. Both parties agree not to disclose any information concerning the conditions of the transaction. This acquisition is subject to the approval of the competent authorities. The closing is expected in January 2011.
Shanghai Eternal Machinery Co. Ltd, one of the leading Chinese companies, is specialized in the manufacturing of automatic/semi-automatic flat-bed diecutting and creasing, foil stamping as well as folding & gluing equipment.
This acquisition is a major step to reinforce Bobst Group strategy and presence in China, thus demonstrating its determination to become a leading player in this growing market for the corrugated board and folding carton industry.