The well-known German flat knitting company Stoll has announced a partnership with Shanghai based Shang Gong Group (SGG) which is focusing on sewing and textile welding. Together the two renowned companies strive to develop innovative solutions along the textile value chain. Both companies share the vision of Industry 4.0 in the textile industry and of new fields for technical textile applications.
Stoll emphasizes that all current corporate values – i.e. innovation, quality, service, support and responsiveness - will remain key priorities. This partnership supports future growth and sustainability and is the basis for further expansion of products and solutions. Stoll will benefit from additional know how and an even broader presence in Asia.
SGG is a strong international partner who deeply understands the textile industry. With its famous German brands Dürkopp Adler, Pfaff Industrial and KSL Keilmann SGG also has a significant footprint with considerable operations in Europe. In addition SGG can facilitate deeper access to the Chinese respectively Asian markets.
Shang Gong Europe (SGE) - the Germany based subsidiary of SGG - will join H. Stoll AG & Co. KG as a limited partner with a minority share by means of a capital increase. Also SGE will have 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.