Bought by Shanghai Electric and Morningside Group — Akiyama reassures Western customers and looks at huge Guangdong market

• DecreaseIncrease

In January 2002, the ailing Japanese press manufacturer Akiyama Printing Machinery was bought jointly by Shanghai Electric Group (SEC), a Chinese heavy-electronic and industrial-equipment manufacturing group, and Morningside Group (MS) a global investment enterprise based in Hong Kong, for US$ 9 million (Rs 45 crore). Shanghai Electric and Morningside within weeks jointly established a new company, Akiyama International Co., Ltd. (AIC), with its headquarters in Tokyo, which assumed all business of APMMC. The two new owners were already owners of a press manufacturing company in China called Shanghai GuangHua and had been trying to purchase Akiyama since mid-2001. ...cont´d

• DecreaseIncrease