Alma Media Corporation Stock Exchange Release Nov. 25, 2011 at 6.25 pm
The printing press supplier for Alma Media's new printing facility has filed for insolvency
According to the information received by Alma Media, one of the key machinery suppliers for Alma Media's new printing facility being built in Tampere, Finland, the German manroland AG, has due to financing problems filed for insolvency in a German court today.
At the moment Alma Media is not able to evaluate how the filing for insolvency may affect the continuation of manrolands business operations, and therefore the timetable of building the printing facility. According to the supply agreements, the installation of the new printing press is due to start in the summer of 2012, and to be in operational phase in early 2013.
Alma Media has during 2011 already made advance payments to manroland but has securing collaterals for those payments.
Alma Media follows the process of the manroland AG filing and will initiate all necessary measures to secure its position.
Alma Media Corporation
Vice President, Corporate Communications and Investor Relations
For further information, please contact:
Mr. Mikko Korttila, General Counsel, Alma Media Corporation tel . +358 50 5934589
Alma Media in brief
Alma Media is a dynamic media company whose best-known products are Aamulehti, Iltalehti, Kauppalehti and Etuovi.com. Alma Media employs approximately 2,800 professionals. The company's net sales in 2010 totalled MEUR 311.4 with an operating margin of 13.9 per cent. Alma Media's share (ALN1V) is listed in the NASDAQ OMX Helsinki Exchange. Read more at www.almamedia.fi