manroland AG Insolvency Administrator Reports Promising Negotiations
AUGSBURG, GERMANY—Jan. 4, 2012—The prospects of a successful investors’ agreement for the insolvent manroland AG have improved further. Auditor Werner Schneider of the law firm of Schneider, Geiwitz & Partner reported conducting numerous negotiations with interested parties in the past few days.
“We now have parties seriously interested in all three production sites in Augsburg, Offenbach and Plauen (Germany), with whom we are involved in ongoing negotiations,” Schneider said, elaborating on the current status.
The ultimate aim continues to be the selling of key company segments by the end of the current insolvency proceedings on Jan. 31, 2012, in order to ensure continued operations and to save as many jobs as possible. Given the promising interest of potential buyers, this remains a feasible aim.
“However, nothing has been signed yet,” Schneider added. Within this context he also thanked the representatives of the works council for their excellent cooperation and their constructive collaboration towards a quick selling solution.
Manufacturing at the German sites is continuing without any restrictions. Two large LITHOMAN printing presses recently took up operation and a further press of this kind will be delivered within a few days. The sheetfed business sector will deliver 29 presses by the end of January. Based on the current order situation, production will continue beyond Jan. 31, 2012.
Intensive negotiations by both the insolvency administrator and manroland AG management prevented the cancellation of orders so far. All commitments are currently being met and the operative business is continuing smoothly thanks to interim financing. Similarly, the service business for existing customers has not been affected.
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