While there has been no official word from the manroland head office, international media reports have identified US venture capital firm Platinum Equity as one of the manroland suitors.
The bids – which include the continued operation of manroland’s three manufacturing sites in Germany – are expected to be presented to the creditors’ committee tomorrow.
In a recent statement Schneider says, “The ultimate aim continues to be the selling of key company segments by the end of the current insolvency proceedings, 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.”
When contacted by Australian Printer, Steve Dunwell, managing director of manroland Australasia was unable to confirm the names of the other manroland bidders, however he says a deal is likely to be finalised within two weeks.
He adds the impact to the manroland Australasian business it yet to be seen, but for now it’s business as usual with the local division continuing to provide services, parts and support to its customers.
Dunwell says, “While we are not quite as normal, in terms of revenue, our business is continuing to run smoothly as we wait and see what the outcome will be in Germany. The Australian business is one of the manroland group’s top market organisations, so we will be desirable no matter what the outcome.”
He continues, “Job losses in Germany will be inevitable as bidders want to buy a viable business, but local job losses will depend on whether someone buys all or just part of the Australasian business. It’s all conjecture at the moment, so I will just focus on keeping the business running smoothly.”
Schneider is working under a February 1 deadline to determine the future of manroland, which filed for insolvency on November 25 last year. Meanwhile, German newspaper Augsburger Allgemeine Zeitung has reported that Platinum Equity made a $127m bid for manroland.
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