Bobst said it will exercise an option to raise its stake to 100 per cent in Gordon Ltd, the holding company for Shanghai Eternal Machinery, maker of Eterna and Brausse flatbed die-cutters, creasing machines and foil stampers.

Gary Tseng, managing director of Gordon, will continue to direct operations, Bobst said. In 2011, Bobst took a 65 per cent stake in Gordon. Bobst intends to take full ownership before the end of the year. Terms were not disclosed.