Goss International announced that parent company, Shanghai Electric Corporation (SEC) has entered into a definitive agreement to sell Goss International and its subsidiaries to American Industrial Partners (AIP). The agreement forms part of a broader strategy to further strengthen Goss’ position as the world’s leading web-offset printing press supplier.
With its broad portfolio of investments, including past and current holdings in printing machinery manufacturers, AIP proved to be the clear choice for ownership of Goss, upholding the company’s current standards as a customer-focused, technology-driven market leader.
The AIP transaction is subject to successfully achieving appropriate regulatory approvals and meeting certain closing conditions. It is expected to close within the next 60 to 90 days.
Rick Nichols, CEO, Goss International said, ‘As a leading supplier of commercial web, newspaper and packaging offset printing presses, Goss is wholly committed to its valued, worldwide customer base and to the sale and support of its broad range of the industry’s most innovative products.’
‘Goss is looking forward to the next phase of its journey under new ownership. AIP is a like-minded, forward-thinking organization that will continue to support our culture of innovation and customer collaboration. Our previous owners, SEC, will now refocus on their core business interests,’ Nichols continued.