Heidelberger Druckmaschinen AG (English: Heidelberg Printing Machines AG) is a German precision mechanical engineering company with head offices in Heidelberg (Baden-Württemberg). It is a manufacturer of offset printing presses sold globally. The company has a worldwide market share of more than 47% in this area and is the largest global manufacturer of printing presses. Sheet-fed offset printing is used predominantly for high-quality, multi-colour products, such as catalogues, calendars, posters, and labels. Heidelberg produces equipment for prepress, press and postpress, and is the only company in the world that does so. On 23 February 2011, Heidelberg announced a partnership with Ricoh, entering into a global distribution agreement contract to sell and support the Japanese companys latest production digital colour press, the Pro C901, alongside their extensive offset press portfolio. Like much of the printing industry, Heidelberg has suffered and its employees have been subject to layoffs and pay cuts in past years.