According to a Bloomberg report, the sites in Offenbach and Plauen will initially be taken over by manroland management and insolvency administrator Werner Schneider, and about 2,500 jobs will be saved from 4,700 in Germany.

Steve Dunwell, managing director of manroland Australasia told Australian Printer the purchase was one of the best possible outcomes for the press manufacturer.

He says, “This is not a liquidation move, it’s a long term purchase by Possehl who will use its engineering expertise to streamline the manroland web business and keep it running effectively.

“While we are yet to hear what the final outcome will be for the sheetfed division, I believe the Australasian business will be in good shape no matter what the outcome, as we have always been a valuable part of the manroland business.”

Commenting on the decision to split the company, Werner Schneider says, “It was our common goal, and this will help to ensure the long-term and independent continuation of the company.”

Dunwell adds that it’s likely the local business will continue to trade as manroland Australasia. He says, “Once the dust settles in Germany we will still be able to service both the web and sheetfed divisions effectively.

“I am likely to receive some advice from Possehl in terms of streamlining and cost cutting; however we are quite a lean and mean business already, so I believe the changes will be minimal.”

This is not the first time the Possehl Group, which comprises 130 companies, has invested in the print industry. In June last year, Possehl acquired Logopak Systeme one of the leading European manufacturers of logistically integrated labeling systems.

Moreover, in 2010 the industrial giant bought Böwe Systec, a globally active supplier of highly automated printing and mailing centres.

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