Westmont, Illinois — MAN Roland took a major step to becoming a fully independent entity this week, when MAN and Allianz Capital Partners announced plans to create a joint venture to purchase MAN Roland Druckmaschinen AG and take the world's second largest press maker public. A letter of intent has been signed by the engineering conglomerate and the wholly owned subsidiary of the Allianz Group, giving MAN AG 35% equity in the joint venture. As an independent company, MAN Roland will be better positioned to continue to grow in value to its customers and sharpen its focus on providing them with more productive ways to print. Record Achievements The initiative comes on the heels of record year for MAN Roland. The company extended its dominance in the web press market with double-digit sales and completed the turnaround of its sheetfed operations, which attained profitability for 2005 and registered a 57% increase in order backlog. Contributing significantly to the worldwide growth in sales is the continuing success of the company's North American division, which saw a 41% rise in sheetfed press orders and another record year in web press sales. Independence Day “An independent MAN Roland will be a more responsive MAN Roland for North American printers,” said Yves Rogivue, CEO of MAN Roland Inc. “We've always put our customers' needs first. Our new independent structure will allow us to further focus our dedication to the printer in terms of advanced technology and support.” Gerd Finkbeiner, CEO of MAN Roland provided a worldwide perspective on the development. “This step means a new era for MAN Roland,” he said. “It will strengthen our position as an independent global solution-provider and increase our options. The company and its employees will gain a long-term perspective as well. Continuity in the management, corporate structure and MAN Roland brand names will ensure that the company retains its credibility and reliability for our customers and employees. This will now be complemented by even greater flexibility and more rigorous decision-making processes.” Stronger Support Meanwhile, Allianz Capital Partners announced its intention to actively help strengthen MAN Roland even further. “With its strong position in the market and excellent product know-how, MAN Roland Druckmaschinen has a very good starting point to continue growing and play a decisive role in the imminent consolidation of the industry,” declared Thomas Pütter, CEO of Allianz Capital Partners. “And we want to support the company in this important phase of its development.” Selective acquisitions could be part of the development plan, according to the joint venture announcement, which pointed to augmenting MAN Roland's sheetfed and web press product lines and expanding the company's consumables offerings. Both parties have agreed to maintain strict confidentiality on all details of the agreement until final completion. MAN Roland Druckmaschinen AG, whose history goes back to 1845, is the world's second largest manufacturer of sheetfed presses for commercial, publication and packaging printing and is the global market leader in web offset. With main locations in Offenbach, Augsburg and Plauen, Germany, the company employs almost 8,800 people. In North America, MAN Roland Inc. operates a network of five regional sales and service facilities, staffed by over 250 employees. Allianz Capital Partners GmbH (ACP) was established in 1998 and is responsible for direct investments in the Private Equity area within the Allianz Group. As an independent financial investor, it focuses on providing individual financing solutions for unlisted companies, corporate owners and management teams for the purpose of financing growth and acquisitions, as well as restructuring for owners.