HomeNews › Bobst to take full control of Gordon
Member news

Bobst to take full control of Gordon

Bobst Group, owner of 65 percent of Gordon Ltd since 2011, is to exercise its option to purchase the remaining shares in the Hong Kong-based holding company of Shanghai Eternal Machinery.

Philippe Milliet, the head of Bobst’s sheet-fed business unit, said: ‘We are very happy with the development of Gordon over the past five years. Gordon has developed new products and reinforced its market position under the strong leadership and vision of Gary Tseng. We are looking forward to continuing to take advantage, under an adapted governance due to the change in shareholding, of the huge experience of Gary.’

Tseng is to remain with the company as managing director, and on selling the balance of his stake, said: ‘There are still great development possibilities ahead of us and I will be more than happy to contribute as managing director as before and for the coming years. At the same time, this cleared situation will give me more time and energy to concentrate on the further development of the Eterna and Brausse products and markets.’

The Bobst and Etera product lines are said to have a ‘high degree of complementarity’, and the two companies will each continue to develop technologically advanced products and services that answer the business needs of their respective customers. The brand identities, management teams, sales and service organizations of both companies will remain separate, thus ensuring continuity in the relationships between customer, Bobst and Eterna.