Manroland files for insolvency

Manroland, the world’s third largest printing press manufacturer, has filed for insolvency, according to news agency Reuters.

Manroland reportedly submitted its insolvency filing to a court in Augsburg, Germany. The move is said to have come following insufficient financial support and the withdrawal of a potential investor.

The company has seen annual sales fall by more than half since 2006 and has cut its work force as well as the hours of remaining employees.

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