manroland agrees purchase of Wifag

manroland has announced that it is negotiating to buy Wifag AG, the Bern, Switzerland, newspaper press manufacturer, and has signed a letter of intent. The parties say negotiations should be finalised in the northern spring. The German web and sheetfed press maker says the pourchase will round its product and service portfolio and “sustainably strengthens” its position in newspaper printing, and its regional presence. “Our industry is marked by an ongoing and necessary consolidation. The current situation allows us to actively grasp the opportunities in the market to strengthen our business,” says Gerd Finkbeiner, chief executive of manroland. Wifag has a reputation for quality, sustainability, and innovation, and m,anroland says this is of great importance for the joined business development. The existing brand, continuity of the company philosophy, and customer relations would be preserved in case of a merger. At the end of last year, Wifag announced the reduction of 300 jobs and the search for a strategic business partner.