SOLMS, GERMANY—  German Cutter manufacturer Perfecta Schneidemaschinenwerk filed for self-administered insolvency proceedings four months ago. The business was originally founded in 1896 and is believed to be the oldest manufacturer of cutting machines in the world. Perfecta Cutting Systems is set to continue under new ownership after an asset sale was agreed. A German venture capital and private equity firm Solvesta has agreed a deal to acquire Perfecta’s assets, with production continuing at its Bautzen factory. Perfecta has a customer base that spans more than 70 countries. Products include high-speed cutters along with automation and handling systems, used in commercial printing, digital printing, labels and packaging.