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YM Group’s plans to be a dominant player in UK web offset have collapsed into chaos, with FRP Advisory appointed as the administrator of the group's three web division businesses, and staff left unpaid.
Nervous workers at YM’s three up-for-sale web plants are awaiting clarity from the group’s bosses about the future for the sites, after Walstead apparently withdrew its interest in a possible rescue deal.
YM Group has assured employees that they will be paid this month, as the deadline looms in the fast-track sale process of its web offset sites.
It said that its service business had remained stable during the pandemic, but incoming orders were below expectations. CEO Franz Kriechbaum was upbeat about future prospects, with Manroland Goss pointing to growth in new press orders “driven in particular by web offset packaging printing solutions”. The firm scooped an order for its Varioman c:line press, which can print onto paper and board from 100-700microns, at a greenfield packaging site in Germany last year. Its most recent commercial web installation in the UK, a 32pp Lithoman IV at Warners Midlands, was commissioned just over...
Concentrators RETOX® Dual Chamber RTO Oxidizers for Packaging (top), Paint Spray (right) and Printing (left) VOC Control. Each RTO utilizes flameless (no NOx) operation and low pressure drop ceramic heat transfer media that is fuel-free at 3% LEL inlet solvent loadings.