Possehl Acquires manroland Web; Langley Nets Sheetfed
AUGSBURG, GERMANY—The breakup of manroland AG is officially under way. L. Possehl & Co. (Possehl Group) has agreed to buy the insolvent press manufacturer's web press unit here, while Langley Holdings will take control of the sheetfed offset division in Offenbach, Germany. Terms of both deals were not disclosed, and are subject to creditor and governmental approvals.
British engineering group Langley Holdings will take control of the sheetfed division's production facilities and the international marketing organization in more than 40 countries. About 840 employees working in Offenbach will be retained.
"This is a world-class business with an excellent reputation, and its production and research and development facilities are superb," said Tony Langley, who is the sole shareholder of the Langley Group.
The Possehl Group plans to establish supplier relationships with the manroland assembly operations factory in Plauen, Germany, in order to secure full capacity at that site. Prospects of a subsequent share in the Plauen factory could be imminent, according to the insolvency administrator. The factory in Plauen will be outsourced as a new company.