that the banks effectively owned 97% of the company. The banks considered liquidating Rollei, but decided instead that restructuring the company would be more worthwhile, setting out the following requirements: Reducing the workforce in Singapore by 50% Reducing the workforce in Braunschweig by 500 Selling the factory in Uelzen Winding up the company Optische Werke Voigtländer As a result, in the first half of 1975, the combined workforce (of both Rollei and Voigtländer) was reduced from 2,400 to 1,800 employees. On 1 April, Peter Canisius Josef Peperzak, the former head of Canon in Germany, took over the leadership of Rollei with the intention of fundamentally changing its pricing and marketing policy. Rolleiflex SLX Rollei had already shown the Rolleiflex SLX to selected journalists in Singapore in 1973, and presented it at photokina (Germany) in 1974, but this innovative camera did not go into production until September 1976. It was the first microprocessor-controlled medium format camera in the world, whereby the aperture and shutter speed were set electronically via two linear electric motors built into the lens. This technology was expensive and rather unreliable to begin with, but the advantages were compelling nonetheless. An updated model with improved electronics was subsequently released in 1978. Most importantly, these innovations allowed Rollei to distinguish itself from Hasselblad. Its Swedish rival promoted the extraordinary reliability of its cameras, as shown by the role Hasselblad cameras played in the missions to the Moon – publicity that was impossible to trump. Rollei, on the other hand, emphasised the advanced electronics and ease of use of its cameras. The SLX lacked an exchangeable film magazine, although a Polaroid back was available. When it was introduced, the SLX cost 5,998 DM. Dissolve projectors At photokina 1976, Rollei presented the Rollei P3800, the first 35 mm dissolve projector in the world. This product generated renewed interest in the company, because, prior to this, dissolving required two projectors connected to a special controller. But the P3800 made this effortless, like running a normal slide-show. Above all, there was no longer any need to alternately load the slides into two magazines. The P3800 was made in Singapore from 1980 and cost 1,000 DM. Several successors followed; the current generation of Rolleivision twin projectors also includes a professional version with 250 watt bulbs. Rolleimatic The Rolleimatic was the last new camera to go into production before Rollei went bankrupt. It was conceived