Possehl Buys manroland Web Unit, Managers Step In to Run Rest
L. Possehl & Co. has agreed to buy manroland AG’s web press unit in Augsburg (Germany) while investors are sought for the offset unit in Offenbach and assembly operations in Plauen, insolvency administrator Werner Schneider said. The sites in Offenbach and Plauen will initially be taken over by management and Schneider, the administrator said. About 2,500 jobs will be saved from 4,700 in Germany.
“It is a common goal to pass the company on to investors that are interested in a long-term and independent continuation of the company,” Schneider said. “In effect, the second round is now starting for Offenbach.”