Gordon is the holding company of Chinese finishing equipment manufacturer Shanghai Eternal Machinery Co, which specialises in flat-bed die-cutting and creasing, foil stamping and folding and gluing equipment.

Bobst signed an agreement on 7 October to take on 65% of Gordon’s shares, with an option for the remainder.

The acquisition is subject to approval, but Bobst has said it expects the deal to be completed by January 2011.

The company said: "This is a major step to reinforce Bobst Group strategy and presence in China, demonstrating determination to become a leading player in this growing market."