manroland India

running business as usual

The Indian operations of manroland remain unaffected by the petition filing to initiate insolvency proceedings of the company in Germany. All operations including spares supply and service support to all customers in India will continue to run normally.

manroland India is a separate entity with independent operations and a strong organizational structure. The company is financially sound and stable to offer continued support to Indian customers.

“manroland AG has filed a petition to initiate insolvency proceedings in Germany, however this does not mean that the company is shutting down. This is a step towards quick restructuring of the organization, so that eventually we can emerge as a lean, healthy and strong organization. We have updated our customers of the current situation and all our customers have wholeheartedly expressed their support. We are thankful for their confidence in the brand,”said Anil Bhatia, Managing Director, manroland India in conversation with Print & Publishing's editor SK Khurana.

Mass credit approved for manroland
continuation of business operations secured

For the insolvent manroland AG the provisional insolvency administrator Werner Schneider has secured an agreement for a so-called “Massekredit” (similar to debtor-in-possession financing). “Continuation of production and business operations at manroland is therefore secured,” said Werner Schneider, a financial auditor. “The company can continue to do business with customers and suppliers and we are sending a very positive signal to the market.”

Schneider is delighted that the financing agreement was reached within only a few days. “Immediate action was essential as an interruption of production does harm the company and makes the desired sales process more difficult,” said Schneider.

The mass credit has a volume of Euro 55 million, thereof Euro 10 million in form of a cash drawing facility. A further Euro 45 million 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 fulfillment 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.

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