In the German press manufacturer’s preliminary 2008 results released this morning, the group reported an 11% drop in sales to €1.7bn (A$3.4bn) but saw its operating result fall 58% to €52m (A$104m).

Gerd Finkbeiner, chairman of the executive board, said: “2008 was a difficult year for Manroland and the entire industry. However, the crucial challenges are yet to come.

“The package of measures we implemented in January 2009 to safeguard our future as well as our marketing campaign will make a big contribution to us coming out of the crisis stronger than before.”

The company has embarked on a cost cutting drive which will result in 625 of its 8,656 workforce being made redundant by 2010 and the closure of its Mainhausen factory, which will be integrated into its sheetfed press factory in Offenbach. According to reports, it is also extending its short-time working arrangements from four to eight days a month in some facilities.

Manroland is also expanding its services business, which includes pressroom products and consumables.

Read the original article at www.printweek.com.

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