Manroland Sheetfed, a German producer of sheetfed litho printing presses, has announced it has entered into ‘Schutzschirmverfahren’, which means protective shield proceedings. In an official statement the company has described itself as “the beleaguered German press builder”, suggesting it is bracing itself and stakeholders for turbulent news and job losses.
The company says it is entering into insolvency proceedings with financial support from parent company, Langley Holdings, which is a privately owned UK-based engineering and industrial manufacturing group. Manroland Sheetfed was acquired by Langely Holdings in February 2012.
Schutzschirmverfahren is a German debtor-in-possession process in which a company can…