Shanghai Electric to become full owner of Goss International

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19 May 2010, Birmingham – Shanghai Electric (Group) Corporation (SEG) will acquire 100-per cent ownership of Goss International in June, 2010, exercising an option established when it became a shareholder in the company in September, 2009. 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 per cent ownership to Shanghai Electric (Group) Corporation. 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 US$ 8.6 billion (Rs.39,000 crore). ...cont´d

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