454 people work at Covpress but Mr You told ITV News he plans to take on more.
"Our plans are to grow our business through increasing our international profile and penetration into other old markets. The acquisition of Covpress is an important move for us in our overall strategy. We are the equivalent of Michelin in China. We believe this deal represents two strong companies joining together in a win-win situation."
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Duller conditions moving back towards the coast through the morning, leaving a mainly dry day with warm sunny spells.
Showery outbreaks of rain will become more widespread through Thursday with heavy and locally thundery downpours possible.
Pollen: West Midlands Update