manroland AG Files for Insolvency

OFFENBACH, GERMANY–After negotiations with a potential investor failed to reach fruition, web and sheetfed offset press manufacturer manroland AG has filed for bankruptcy protection. Its insolvency proceedings here represents Germany's largest corporate filing in two years, Bloomberg.com reported.

In a company release, manroland AG noted a dramatic downturn in press orders that began in mid-July and continued to decline. While interest in its equipment remains high, the company said that potential customers are still finding it difficult to obtain 
financing. The United States and Western Europe were 
especially problematic markets for the press maker, particularly with sheetfed press orders foundering.