Report: Heidelberg, manroland talking merger

Heidelberger Druckmaschinen AG, which just concluded one of its worst financial years in history, is talking merger with manroland, according to a report in a financial newsletter.
German newsletter Platow Brief disclosed the discussions, according to Bloomberg, but didn’t say where it obtained the information.
The newsletter said that Allianz, the German conglomerate that owns stakes in both press vendors, is behind the push.
Allianz owns 12 percent of Heidelberg and 65 percent of manroland.
Bloomberg said neither Heidelberg, manroland nor Allianz would comment. Manroland’s North American press representative also declined comment.
Reports that the two companies might combine operations come after Heidelberg reported a loss of $354 million last year, on revenues of $4.3 billion.
Heidelberg CEO Bernhard Schreier termed last year as “without doubt one of the worst in the more than 150-year history of Heidelberg – if not the worst,” according to PrintWeek, a U.K. trade publication.