January 25, 2008 -- Zhejiang Supor Cookware Co. shareholders are meeting this month to elect a new board of directors, reflecting the fact that the cookware producer is now majority owned-by France's Group SEB, the French company announced last month. SEB has owned a 30 percent stake in the company since last August. As a result of the December deal, SEB now owns 52.74 percent of the company, with the founding family keeping 36 percent, and the other 11 percent owned by the public. SEB paid US$320 million (2.3 billion yuan) for the new shares. SEB announced that it plans to pursue the growth in China and to accelerate its expansion in other Asian countries.