By: E&P Staff Shanghai Electric (Group) Corp. has completed a transaction initiated in June making it the second largest shareholder in Goss International Corp. MatlinPatterson Global Opportunities Partners remains the majority shareholder in Goss International.
"Shanghai Electric has substantial resources and is focused on world-class industrial equipment manufacturing," Goss CEO Jochen Meissner said in a statement. "Their investment should send a strong signal to printers and publishers regarding our strength, stability and long-term capacity to deliver value."
Shanghai Electric is among China's largest equipment manufacturing groups. Its subsidiaries operate in the industries of power generation and transmission, electromechanical equipment, heavy machine tools, transportation equipment, environmental protection systems, automatic instrumentation, and refrigerating compressors, among others.
SEC subsidiary Shanghai Printing and Packaging Machinery, maker of printing press and finishing equipment, has had a longstanding relationship with Goss International through Shanghai Goss Graphic Systems, a joint venture that has produced several Goss web offset press models in China for the global market since 1993.
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