Commenting on the approval, insolvency administrator Werner Schneider says, “The company can continue to do business with customers and suppliers and we are sending a very positive signal to the market.”
Schneider adds he is delighted that the financing agreement was reached within only a few days. He says, “Immediate action was essential as an interruption of production does harm the company and makes the desired sales process more difficult.”
The €55m Massekredit includes €10m in form of a cash drawing facility and a further €45m are a so-called “partial” mass credit in which the lending banks release part of the forgone loans. The release ensures the required liquidity without the banks having to provide new debt.
The financing secures fulfilment of liabilities with customers and suppliers that have placed or received orders with manroland after the company has filed for insolvency. Liabilities originated before the filing will be dealt with as part of the insolvency proceedings later in the process.
Meanwhile, a manroland customer Steve Smith has called for the Australian print industry to throw its support behind the ailing press manufacturer.
On a newly created website supportmanroland.com, Smith says that many printers and publishers in Australia operates manroland equipment of one kind or another and therefore has a clear vested interest in wishing to see this iconic company successfully re-emerge from these difficult circumstances.
He continues, “Undoubtedly these situations are inherently complex but there is every indication that manroland may well survive in the long term as a result of a prudent restructuring process and, or some form of investor involvement.”

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