Speaking at a press conference at newspaper trade show Ifra, KBA deputy president Claus Bolza-Schünemann said that the worldwide newspaper press sales market had contracted to around half the size of 2007.

However, the company has claimed that its share of the market, which is now estimated to be at around €450m (£388.95m), has increased to around 49%, something it puts down in part to the success of its compact machines such as the Commander, of which the Express newspaper group ordered six earlier this year.

However, the company said that the outlook for the entire press sector would be a negative one while widespread price wars maintained.

Bolza-Schünemann said: "What is clear is that there is a huge capacity overhang among suppliers in virtually every market sector, newspaper printing included. This has engendered fierce and predatory pricing on a ruinous scale. The market conditions condusive to healthier margins will not return until the necessary industry consolidation has completed its course. It remains to be seen who will have the greatest stamina.

"The big issue at the last Ifra Expo was the collapse of merger talks between Heidelberg and Manroland. In spring this year it was Manroland’s alleged acquisition of Wifag. At the beginning of August it was KBA’s reputed interest in a merger with Manroland.

"We are better placed to remain independent than many other players in the industry. We are under no financial or external pressure to take premature action and can simply await devlopments. Should any further rumours of mergers or takeovers make the rounds here, the source will definitely not be KBA."