Europe looks certain to lose another major gravure plant as TSB, the company bought by Riccobono late last year has filed to begin bankruptcy proceedings in the German courts.
An administrator has been appointed to examine the business and to come up with a strategy plan for the company. Until then the plant remains open and operational, though salaries are being paid by the administration process rather than the company.
TSB had already reduced capacity before Riccobono took over six months ago and accepted further cost saving measures as part of that deal. It had come down from six to four machines as a result of these measures. These are KBA machines, 2.70 metres wide TR6B, two 3.52m wide TR9B an a TR10B at 3.68metres wide.
Riccobono had announced plans to cease TSB’s heatset offset printing in January, transferring work to other parts of the Riccobono group.
However, the German operation has lost further substantial business since then, leading to it becoming insolvent. At the time of the takeover, turnover was put at €70 million a year with 300 employees. That was reduced leaving around 180 to be affected by the administration.
Should TSB close, the European publication gravure industry will comprise Riccobono’s plant at Lenglet, HelioPrint in France; Bauer with two sites in Poland, three for Burda in Germany, Rose, Roto Sud in Italy. Walstead and Pozzoni also have capacity, but like Prinovis are winding down gravure printing.
Gravure faces the perfect storm of relatively slow prepress processes, the loss of key customers in long run catalogues, the high energy cost of the process and falling print runs where web offset can be more competitive, even on high pagination products.
