DAP Industrial AG (Formerly known as ShangGong (Europe) Holding Corp. GmbH)
As a wholly-owned subsidiary of Shang Gong Group Co., Ltd., DAP Industrial AG (DAP AG) was founded on 17 February 2004, registered in Bielefeld, Germany with a registered capital of EUR 12,500,000.
The scope of business of DAP AG covers the management of its own assets, ,international trade of commodities which do not require a special license, and establishment, acquisition, participation, controlling or transfer of companies in same or similar form.
DAP AG acquired Dürkopp Adler AG and became its majority shareholder in July of 2005. It now holds 7,708,472 shares in Dürkopp Adler AG, which accounts for 94.01% of its total shares. In March and June 2013 the Company respectively acquired PFAFF Industriesysteme und Maschinen AG and KSL Keilmann Sondermaschinenbau GmbH.
Through the post-acquisition business integration, those Companies will serve as a special platform under ShangGong Group to facilitate the opening-up of international markets for Shanggong products and the penetration of Dürkopp Adler , Pfaff and KSL products into Chinese and Asian markets.