Stoll, German flat knitting machine manufacturer, went into a partnership with Shang Gong Group in order to increase its efficiency in Asia. According to the statement made by Stoll, this decision was taken in order to sustain future growth and sustainability and it was emphasized that the company will acquire more efficient position in Asian market through Shang Gong Group.
With its famous German brands Dürkopp Adler, Pfaff Industrial and KSL Keilmann, SCG will join H. Stoll AG & Co. KG as a limited partner with a minority share by means of a capital increase. Also Shang Gong Group has one member in Stoll’s supervisory board while the Stoll family will keep the dominate majority in the company. The formal partnership will become effective after clearance by the relevant merger control authorities.
