Plauen

The plan to split the company into three divisions put forward by major German trading and manufacturing group, L. Possehl & Co. mbH, has won the approval of the manroland administrator. manroland’s Offenbach sheetfed printing systems site is to be restructured in the form of a management buyout under the planned three-way split of the company as part of its ongoing insolvency proceedings. The web press manufacturing site at Augsburg, where the IPMG and PMP 96-page presses are being made, will be acquired by L. Possehl &Co. Plauen, the third manufacturing site that was restructured last year as a

Manroland said it is ready to move forward with its previously announced plan to eliminate 500 jobs and create a new services unit following an agreement with the work council representing its German employees. The agreement also included a supplementary wage agreement, manroland said. The workforce reduction, to be completed by the end of 2012, will affect all three of manroland's German facilities in Augsburg, Offenbach and Plauen. Additionally, manroland is transferring up to 300 workers to its new business unit, manroland Industrial Services, effective Jan. 1, 2011. The unit will offer consultancy and technical services. Manroland in September