Three bids were made, although the identity of the third bidder has not been revealed. Xeikons own management was not one of the parties, and did not make an approach.

MAN Rolands interest is solely in Xeikons colour engines, which it uses in its DICOpress range. "We are not interested in black-and-white, only colour," said spokesman Thomas Hauser. "Now we wait for the courts and are in discussions to find a good solution."

Yam International is Xeikons Russian-based distributor, and Alpha Capital is providing the funding for its bid. It is a surprising move because the company is unknown outside its home territory, although it is believed it could be fronting a bid from a consortium of Xeikons value-added distributors.

"The Yam bid is interesting and intelligent, because they know the products and the company," said Xeikon executive chairman Gino Despeghel, who said morale among Xeikon staff remained good. "Everybody here is holding hands and hoping for a solution," he added.

The announcement of the two preferred bids follows consultations with Xeikons staff and management. The Belgian court aims to finalise the sale by the end of the month.

No announcement has been made yet regarding Xeikons black-and-white operations, the former

Nipson business that is 90% owned by Xeikon.

"It is a daughter to Xeikon and needs to see what happens to the mother before they work out their future," added Despeghel.

Story by Jo Francis