China-based SEC, which is the second largest shareholder in web press manufacturer Goss International, issued its rebuttal following reports in the German trade press that it was currently in talks with Allianz.

A spokesman for the company said: "Our company is not in talks with Manroland or its shareholders."

SEC's comment came after Deutscher Drucker claimed that SEC was preparing to table a bid for Manroland's sheetfed manufacturing site in Offenbach, which fellow German publication Manager Magazin had already alleged would be surplus to requirements in the event of a merger between Manroland and Heidelberg.

According to reports in the 21 August issue of Manager Magazin, Heidelberg and Manroland have appointed Merrill Lynch and Deutsche Bank respectively to advise on the potential merger.

Heidelberg and Manroland both declined to comment.