Shanghai Electric Elects to Assume Full Ownership of Goss

Other current shareholders in Goss International, including majority shareholder MatlinPatterson Global Opportunities Partners, will sell their shares in the company as part of the transaction that will transfer 100-percent ownership to Shanghai Electric (Group) Corporation.

Goss International supplies web offset presses and finishing systems for newspaper, magazine, catalog, direct mail, packaging and other printing applications. The company has development and manufacturing operations in The United States, The Netherlands, France, Japan and China and a worldwide sales and support network.

SEG and its affiliates are one of the largest mechanical and electrical equipment manufacturing groups in China with 60 core manufacturing sites, more than 40,000 employees and 2009 revenues of $8.6 billion.

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