Goss Announces New Ownership

DURHAM, NH | Goss International reports 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). Company says the agreement forms part of a broader strategy to further strengthen Goss's position as a leading web-offset printing press supplier.

The AIP transaction is subject to successfully achieving appropriate regulatory approvals and meeting certain closing conditions.

"As a leading supplier of packaging, commercial web, and newspaper 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," says Rick Nichols, CEO, Goss International. "[We are] 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 concludes, "SEC, since its acquisition of Goss in 2009, has been an excellent shareholder and business partner to Goss, and they have set us up for success in the years ahead by selling their Goss interests to a highly qualified and committed buyer, American Industrial Partners. We look forward to building a business for the future with our new owner."

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