The global engineering firm, which is headquartered around 30km north of Augsburg, specialises in flood defence systems and component manufacturing.

The Plauen facility closed in December 2012 after operating in the hands of administrator Werner Schneider since Manroland AG initiated insolvency proceedings in November 2011.

It had been anticipated that German conglomerate Possehl Group, which acquired Manroland’s Augsburg web offset facility in February 2012, would take over the site but talks broke down at the end of last year resulting in the closure of the site and the loss of around 400 jobs.

As part of IBS’s acquisition of the site the firm has committed to create 150 jobs by the end of the year with a long term goal of around 300 positions. Around 40 are already on site with a further 35 to take up positions in the coming weeks.

According to administrator Werner Schneider immediate work at the site will consist of contract manufacturing for "existing business" with the new owner’s medium term plan to expand manufacturing and assembly work to its own specialist fields.

In the long term it will develop the site to produce parts for the aviation sector and as specialists in retrofitting for construction machinery and robotics. IBS also has a production site in Rotava, Czech Republic.

Commenting on the acquisition Werner Schneider said: "The commitment to create the greatest number of new jobs was an important argument in the decision for us to sell. With this solution, we have achieved a long-term perspective for the former Manroland site at Plauen."