Posts tagged: Shinohara

The first sizeable offset press manufacturer files for bankruptcy

Ralf Schlozer
 Jan 17, 2011

The downturn in offset press sales has claimed its most prominent victim so far. While several finishing and press component suppliers have folded in the aftermath of the 2008 financial crisis, Shinohara is the most prominent press manufacturer to file for bankruptcy protection so far.

With debts of over €70 million and revenues down to €20 million in the 2010 business year, Shinohara Co. Ltd. filed for bankruptcy protection last week on January 11th. This Japanese civil law filing is similar to a U.S. Chapter 11th. Shinohara’s sales dropped drastically in their past fiscal year from €45 million (5 billion Yen) in 2009 to €20 million (2.2 billion Yen) in 2010.

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