Press users in Australia have rallied round to support manroland as the insolvent manufacturer’s administrator has announced that finance for its continued operation has been secured.

A website at www.supportmanroland.com – established by an Australian customer – urges customers to support the company by paying their bills, buying parts, and writing to board members with their support.

The company says provisional insolvency administrator Werner Schneider has secured an agreement for a so-called ‘massekredit’ – similar to debtor-in-possession financing – and continuation of production and business operations is secured.

Schneider, a financial auditor, says, “The company can continue to do business with customers and suppliers and we are sending a very positive signal to the market.”

He is delighted that the financing agreement was reached within only a few days: “Immediate action was essential as an interruption of production does harm the company and makes the desired sales process more difficult.”

Euros 10 million of the Euros 55 million mass credit is in form of a cash drawing facility, with a further Euro 45 million as a so-called ‘partial’ mass credit in which the lending banks release part of the forgone loans. The release ensures the required liquidity without the banks having to provide new debt.

The financing secures fulfillment of liabilities with customers and suppliers that have placed or received orders with manroland after the company has filed for insolvency. Liabilities originated before the filing will be dealt with as part of the insolvency proceedings later in the process.

The ‘Support manroland’ website says “virtually every printer and publisher” in Australia has a vested interest in seeing the iconic company emerge successfully from its difficulties.

“It serves no meaningful purpose here to try and delve into the intricacies of the situation suffice to say that the financial global downturn from 2008 onwards is clearly at the core of the issue…

“Undoubtedly these situations are inherently complex but there is every indication that manroland may well survive in the long term as a result of a prudent restructuring process and, or some form of investor involvement,” it says.

Australian users are urged to:

• clear outstanding accounts as soon as practicable – cash flow at this time is vital;

• don’t be reticent about ordering spare parts if required, and pay for them in a timely manner; and

• take the time to write a letter of support and reassurance to the board of management; it may have an impact in indicating the long term viability of manroland.

“We need manroland to survive and they need our support, it could make all the difference,” say organisers.