Court Says Manroland Files For Insolvency
25 November 2011 - 11:54PM
Dow Jones News
German printing press maker Manroland AG has filed for
bankruptcy at a district court in Germany, the court said
Friday.
The application is being examined and no decision has yet been
made, the district court of Augsburg added.
Owners Allianz SE (ALV.XE) and MAN SE (MAN.XE) had said they
were exploring options for Manroland with a view to finding a
sustainable solution for the company.
Manroland has suffered as a result of the economic slowdown.
On Thursday, Dow Jones Newswires reported that the company is
likely to file for insolvency, citing a person familiar with the
matter.
The printing industry has been under pressure, with even rivals
like Heidelberger Druckmachinen AG (HDD.XE) as well as Koenig &
Bauer AG (SKB.XE) not yet recovering from the economic crisis of
2008/2009 that prompted the companies to restructure.
-By Natali Schwab, Dow Jones Newswires; +49 69 2972 5507;
natali.schwab@dowjones.com