The renowned German flat knitting company Stoll has signed a partnership deal with Shangai based Shang Gong group (SGG), a company that specializes in sewing and textile welding. The two companies are committed to developing innovative solutions along the textile value chain. The two companies are also committed to developing innovation solutions along the textile value chain.
In addition, the two companies share the vision of industry 4.0 in the textile industry and other fields for technical textile applications.
Despite the changes, Stoll has reiterated that all its current corporate values such as innovation, support, quality, service and responsiveness will remain its priorities. This partnership is geared at supporting the future growth, sustainability and is the basis for further expansions and new product development. On the other hand, Stoll will benefit by increasing its presence in Asia and enhance its knowhow.
It is necessary to understand that SGG is a strong international company that has a deep understanding of the textile industry. Its German brands Durkopp Addler , KSL Keilmann SGG and Pfall industrial are famous and enjoy a significant presence and operation in Europe. Also, SGG facilitates deeper access to the Chinese and Asian markets.
SGE (Shang Gong Europe) is a subsidiary of SGG. It is expected to team up with KG, H.Stoll AG &Co. as a minority share holder in terms of capital increase. In addition, SGE have one member in stroll’s supervisory board while Stoll will keep its majority in the company. The formal partnership will take effect after the merger has been cleared by relevant merger control authorities