The Bobst Group has said that it will buy the outstanding 35 percent shares of the Hong kong based holding company Gordon Ltd, which owns Shanghai Eternal Machinery Co. Ltd. Bobst already owns 65 percent of the company with an option on the remaining shares.
The current owner, Gary Tseng, will remain managing director in charge of the operations as before. He commented: “This cleared situation will give me more time and energy to concentrate on the further development of the Eterna and Brausse products and markets.”
There’s a fair degree of compatibility between the Bobst and Eterna ranges so it makes sense that the two companies should continue to develop these. However, Bobst has said that it will keep separate the brand identities, management teams, sales and service organizations of both companies.
Both parties have agreed not to disclose any information concerning the conditions of the transaction.