manroland to Return to Profit, Flying Industrialist Langley Says

Tony Langley, the self-described industrialist whose Langley Holdings Plc. took over the sheetfed unit of Germany’s insolvent manroland AG, plans to return the printing-press maker to profit this year. Langley doesn’t see the need for any more restructuring and has no plans to fire any of the 1,000 workers remaining at the factory in Offenbach near Frankfurt, he said today at a press conference.

Langley, who pilots his own plane to Germany and back home to England every week, sees long-term “conservative” growth for the printing-press industry. “In my lifetime and my kids lifetime, there will still be print media.”