Future of manroland sites secured

Possehl Group is to purchase the insolvent manroland AG’s web-fed printing systems site at Augsburg (pictured) in southern Germany, after a creditors’ committee recommended an investor concept that will see the business split into three separate units.
 
While the Augsburg site has been acquired by Possehl Group, the Plauen assembly facility is to be outsourced as a new company and the Offenbach sheet-fed printing systems site will be restructured through a management buy-out in cooperation with an investor.
 
Possehl Group is made up of over 130 companies, divided into nine, highly diversified divisions. These include elastomer processing, electronics, intentional trading, precious metal processing, mailroom systems, cleaning systems, textile finishing systems, special purpose construction and SME investments. The north German family-run business plans to establish long-term supplier relationships with the manroland factory in Plauen in order to secure full capacity at that site, which will also be supported by recent third-party orders. The prospect of Possehl taking a subsequent share in the Plauen factory is thought likely.
 
As for the MBO of the Offenbach site, manroland’s insolvency administrator Werner Schneider said it has a solid economic foundation and good future prospects, although the financing concept does require a guarantee by the federal state of Hessen. Talks have already been held on this matter.
 
These moves will mean 1,500, nearly three quarters of the workforce at the Augsburg site, will retain their jobs, while in Offenbach the headcount will be reduced to from 1,760 to 750. In Plauen, nearly 300 positions will remain from 680.
 
While the creditors’ committee vote is not a formal decision, Schneider said it sends a strong signal. A final decision will be reached in the meeting of creditors.
 
‘Our shared goal was to place the company in the hands of investors who are interested in its long-term, independent continuation,’ Schneider said, citing the existing operating concepts, the planned absorption of employees, as well as the rapid implementation of sales contracts as the main criteria guiding the creditors’ committee’s decision.

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