The two companies have worked together for some time on press manufacturing, but announced in June this year that SEC would become Goss's second biggest shareholder.

According to Goss European marketing manager Eric Bell, the move will have no immediate effect on the company's UK arm, but it is a positive move for Goss as a whole.

He said: "There will be no direct effect on the UK – there are lots of details still to work through. Ultimately, although they have invested in the business and we are now in a more favourable position, it improves the stability and strength of the business."

SEC is one of the largest equipment manufacturers in China, operating in areas including power generation and transmission, electromechanical equipment, heavy machine tools, transportation equipment and environmental protection systems.

Print subsidiary Shanghai Printing and Packaging Machinery (SPPM) has worked with Goss on Shanghai Goss Graphic Systems since 1993.

Jochen Meissner, chief executive of Goss, said: "Shanghai Electric has substantial resources and is focused on world-class industrial equipment manufacturing. Their investment should send a strong signal to printers and publishers regarding our strength, stability and long-term capacity to deliver value.

"We look forward to new opportunities to innovate and execute together through our unique worldwide platform that will include significant manufacturing operations in America, Asia and Europe."