The losses are lower than were first feared when the group announced a restructuring programme last month after the printing division reported a 6.3m (e10m) loss for the third quarter, compared to a 8.2m profit for the same period last year.

It had initially been estimated that the printing division would have to lose up to 500 jobs as the group said 1,000 could go across all divisions (PrintWeek, 22 November). A spokeswoman for MAN Roland said that those losing their jobs would be enrolled in professional qualifications and a job placement agency.

Under the restructuring programme two rented locations, which fitted sheetfed presses including the R700, will be vacated and moved to the company's Plant Two.