Manroland Likely To Announce Insolvency Shortly -Sources
November 24 2011 - 1:51PM
Dow Jones News
Germany's ailing printing machine maker Manroland AG is likely
to file for insolvency after a possible investor hopped off board,
a person familiar with the matter told Dow Jones Newswires
Thursday.
According to several sources, the company's supervisory board is
currently discussing the future of Manroland.
Should the body opt for insolvency after discussing it with the
executive board, the insolvency application could be filed as soon
as Friday, the person familiar with the matter said.
A new investor could still save the company from that step, but
that scenario seems unlikely, the person said.
Shareholder MAN SE (MAN.XE) declined to comment on the
information, while Manroland only confirmed that a supervisory
board meeting is taking place.
Owners Allianz SE (ALV.XE) and MAN SE said recently they are
exploring options for Manroland with a view toward finding a
sustainable solution for the company.
Manroland hasn't been doing well in previous months due to the
economic slowdown and after already suffering enormously under the
economic crisis of 2008/2009.
-By Nico Schmidt and Eyk Henning, Dow Jones Newswires; +49 69 29
725 500; nico.schmidt@dowjones.com