MAN Roland in the Running for Xeikon: Decision to Be Made This Month
Press release from the issuing company
February 4, 2002 - (WhatTheyThink.com) Xeikon’s management was consulted last week in order to give their opinion after the presentation of three bids for Xeikon’s color business.
Xeikon’s Board of Directors received the bids and concluded that two of the bids were similar: One by MAN Roland and one by Yam International/Alpha Capital AG. Further discussions are expected.
In early January, Xeikon reviewed initiatives to secure the continuity of the Company. The Board concluded that it did not appear feasible to secure new capital in time to please their creditors. Also factored in their decision to liquidate was the fact that Xeikon already had several parties interested in acquiring all or part of their assets.
Shortly after Xeikon filed for bankruptcy protection in November, MAN Roland was quick to show support for the company. The two have an OEM contract that goes back two years. MAN Roland markets, sells and services Xeikon’s digital printing systems with their own brands of DICOpress, DICOpage and DICOpack.
In a November statement, Paul Steidle, MAN Roland’s executive responsible for the Digital Printing Systems said they were convinced that the business with the DICO-OEM systems would continue and expand. "We have ensured that the supply of consumables, systems and parts as well as second level support is guaranteed on a short- to medium-term basis, meaning that for MAN Roland customers and prospects, it is business as usual."
Negotiations with MAN Roland and Yam International/Alpha Capital AG will take place in the coming weeks with a final decision to be made at the end of February.
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