The move gives Bobst a foothold in the attractive Chinese market.

Gordon owner Gary Tseng will remain as shareholder for the remaining stake of 35%, as well as president of the board of directors and managing director of Gordon.

According to Bobst, its machines complement the Eterna range of products produced by Shanghai Eternal Machinery.

The brand identities, management teams, sales and service organisations of both companies will remain separate.

Gordon specialises in flatbed die-cutting and creasing, foil stamping and folding and gluing equipment.

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