Negotiations Continue for manroland Investor
AUGSBURG, GERMANY—Bankrupt press manufacturer manroland is reportedly picking up interest from a number of interesting parties, and the legal auditor overseeing the process is confident a deal can be reached with an investor to save the flagging firm.
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.
According to Schneider, the goal is to sell key company segments by the end of the current insolvency proceedings on Jan. 31, in order to ensure continued operations and to save as many jobs as possible. The manroland plants are still operating under normal conditions. 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.
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, according to the law firm. Similarly, the service business for existing customers has not been affected.