Polar Seeks Court Protection to Restructure
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Polar, the 116-year-old German manufacturer of high-speed cutters, is seeking court protection in order to restructure, according to PrintWeek.
The company, which has a has a long-standing partnership with Heidelberg, blames supply chain delivery delays of components such as controls for delaying orders and the preventing the firm from shipping some of its products.
As well as manufacturing guillotines for the printing and packaging industries, PrintWeek notes, Polar is also the dominant supplier of machines for packaging frozen pizzas.