Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
German manufacturer of printing presses Manroland will shed 110 jobs as a response to lowering orders from the clients in the EU market. The company which filed for insolvency in 2011 was purchased by British Langley Holdings in February 2012. At the moment it employs a total of 1,000 employees including German sales staff in foreign countries. The job cuts shall affect the prodution unit (40% of the job cuts), as well as the services, the IT, the finance and the develoipment units.
According to Financial Times Germany, Langley Holdings is known for purchasing and restructuring insolvent technology firms. Manroland works council is critical about the British investor.
Eurofound (2012), Manroland, Internal restructuring in Germany, factsheet number 74111, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74111.