The move allows the board to regain full control of the company, which filed for the administrative procedure less than nine months ago citing financial difficulties.

Under the restructuring, the manufacturer has shed half its workforce as part of a raft of cost-cutting measures.

Guillaume Dumarey, managing director of Nipson and sales and marketing director for Nipson SAS, said both management and shareholder "have always believed in the company's future and the added-value of its unique technology".

Dumarey added: "We are very pleased that all our efforts of the past eight months have been worth it.

"While there is no sign of a market recovery in the short term, we are confident that we have now ensured our readiness to cope with the economic crisis."

As of June 26, Nipson maintained the majority shareholding in Nipson SAS with 52.3% with investment company Creacorp, which has a stake in Xeikon manufacturer Punch Graphix, holding the remaining 47.7%.