„The business activities of the company are being continued. It is aimed to restructure the business acitivities within the instituted insolvency proceedings with the objective to maintain it on the long-term“, said the preliminary insolvency aministrator Dr. Wolfgang Bilgery from lawyer firm Grub Brugger, Stuttgart.

The reason for the insolvency is the drastic decline of sales in Germany since the beginning of the year which could not be compensated by orders from abroad. Based on an export ratio of more than 70 % there is a good chance that Ernst Nagel will continue its business.

The  traditional company was founded in 1920 by Ernst Nagel and is still owned by his descendants. Ernst Nagel GmbH is one of the leading manufacturers of print finishing and bookbinding equipment with agencies in more than 90 countries. Nagel machines are known for their variety and durability.