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FEBRUARY 2013
A message from
9 February, 2013 and it's been exactly a year since the Manroland Sheetfed Group emerged from the train-wreck that was Manroland AG. So how is "the man behind Manroland", British industrialist Tony Langley's latest venture faring one year on?
Crista Baxter reports. Tony Langley is smiling. In his Chairmans Review of the Langley Holdings PLC Annual Report & Accounts 2012, which were published the first week in February, the eponymous founder, CEO and Chairman of this remarkable engineering group has much to smile about. It has been another record year for the group he has nurtured since 1975. companies world-wide, is not included in the Langley figures, the press builder will report it's figures in March and it is planned to incorporate the Group into Langley Holdings later this year.
more efficient, dynamic and responsive in ways unimaginable in the past. What has not changed, however, is our capability to offer a wide range of products and service with the highest performance to our customers, the top performers of the printing industry. I can also say that other important things have not changed and neither will they. Like maintaining the most demanding levels of quality for which the legendary longevity of our presses are renowned and the Manroland philosophy of technical excellence and innovation. In Langley we have a shareholder that understands the value of these, our most prized assets. None of this would have been possible to achieve without the support of our people here in Germany and throughout our market organization companies around the world. For that I commend them and on behalf of everyone I would like to thank our shareholder, Tony Langley, for his direct involvement and guidance in bringing about this transformation. On the next pages you will find some examples confirming that the new path is well accepted and honored by our many customers around the world. Lets continue focusing our efforts not only to meet, but to exceed their expectations.
Looking closely into the accounts it can be seen that Langley paid around 80 million for the Manroland Sheetfed Group last February - 21 million for the Offenbach properties, roughly 59 million for everything else. Whats not clear is what he got for that on day one but the Revenues are 527 million, pretax profits pro-forma Manroland accounts at 31st 121million, bolstered 25 million by an December 2012 included in the uplift to market value of Manrolands Chairmans Review are showing net Offenbach property portfolio, and the assets of 80million, after borrowing 57 group remains free of debt, reporting million from Langley Holdings. Add the 208 million of cash in hand at the year- Tony Langley: the man behind Manroland 25 million fair value adjustment on the end. Manroland Sheetfed meanwhile, German property in Langley Holdings books and the total net reported to be standing on its own feet in Langleys halfassets are 105 million; around 45 million of that in cash. year statement, continued to do so in the second half. The Manroland Sheetfed Group, which comprises over 40 Continued on page 4
"We are delighted to have passed this rst milestone, which was exactly our target for 2012 under the new organization. Following the re-structuring that has taken place in 2012, the company was able to manage a small
prot at this level despite the factory only operating at less than one third of its maximum capacity but with what we are seeing in the pipeline, I do expect this will increase in 2013"
had manroland sheetfed presses. In fact, MET Fine Printers has never had anything other than ROLAND presses in their press room.
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WE ARE PRINT.
Tramar SRL wanted to replace their existing KBA and ADAST presses; they selected a new 5-color ROLAND 705 LV press with coating. The popularity of the press was advocated further when Costasan SRL also installed a ROLAND 705 LV press to handle both packaging and commercial applications. Scheduled for commissioning in the first quarter of 2013, is a 6-color ROLAND 706LV for Mundial SA, their first nonHeidelberg machine in Mundials 50 year history, and a 4color ROLAND 704 for commercial printer FP Impresora SA. The ROLAND 700 sets the industry standard for unparalleled flexibility in production print. With non-stop feeding for faster consistent delivery, totally integrated automation for seamless production and a fully automated plate changing system, it ticks all the boxes. Sergio Danelon: Customers here are increasingly focused on quality and reliability, particularly those engaged in
packaging print. Last year we demonstrated that investing in ROLAND presses was the right decision Other new customers Albors Trabucco SH, a publications print house and Imprenta Villagra SA, a commercial printer, each installed a 5-color ROLAND 50, an extremely resourceful press thanks to shorter makeready times, precise color control and less sheet wastage. With a maximum delivery pile height of 700 millimetres, its the highest in the 36/52 format class. With so much activity in the Argentinean market, Danelon concluded: Our presence in the local market is now firmly established. We believe by staying as close as possible to our customers we can provide the highest levels of customer support and service
for every press speed and level of productivity, regardless of whether the print shops specialize in commercial, publishing or packaging printing. When leading Argentinean packaging print company Offset
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Mr. Adam Yuen, Managing Director of Manroland China, stated China is an important market for Manroland. With long-term commitment to our customers, we promote our technology and development proactively to further increase the investment in the Chinese printing market. Mr. Eric Wong, General Manager of the Sheetfed Division added Manroland China couldnt achieve such outstanding performance without the support of our customers and
ROLAND 900 XXL, increased production capacity and efficiency at Vincenzo Bona S.p.A. Eric Wong, General Manager Sheetfed Division, Manroland China.
Vincenzo Bona specializes in printing school books and other publications. They are also a preferred supplier to the Royal House and the Academy of Sciences producing specialized characters for friezes in both ancient and modern alphabets. Dr. Giulio Bona, President of Vincenzo Bona S.p.A. stated To stay competitive in such a fast moving industry and to meet the increased demands of our customers, it is essential we continue to invest in advanced printing technology to perfect the art of printing; the new press will just do that, and increase our competitiveness in the market without compromising on quality.
Shanghai, Chengdu, Guangzhou, Shenzhen and Taipei and with 230 employees in sales and service, Manroland China provides the print industry with a full range of pre-press, web and sheetfed presses and aftermarket services. ROLAND presses play a major role from the smaller to 900 XXL extra-large formats, a wide range of options are available to meet customers varying demands. The Manroland China group is a supplier to the packaging, highend commercial, publishing and newspaper printing houses. A dedicated aftermarket team guarantee that every press supplied operates to maximum efficiency during its entire life cycle under the Manroland PrintValue umbrella. Alcohol reduced printing products offer a "greener" solution from Manroland's printcom facility in China. From investment and construction planning and consulting services, through to software and process management systems to process optimization, Manroland Chinas service is total.
FACT FILE
Established: 1972 Acquired by Manroland: 1998 Managing Director: Adam Yuen Location: Hong Kong, Beijing, Shanghai, Chengdu, Guangzhou, Shenzhen, Taiwan Number of employees: 230
purchased an 8-color ROLAND 500 with full UV application. The company produces high-quality film printing and packaging for various industries including electronics, cosmetics, watches, food, toys and stationery with more than 80 per cent of their products exported to Europe and America. They already have a 6-color ROLAND 700 and were so pleased with the results they went back to Manroland again. Manfred Man, the General Manager, said: We are very demanding on printing efficiency and stability and Manroland gives us assurance. The ROLAND 500 has the worlds flattest sheet travel and even with substrates up to one millimeter thick and speeds up to 18,000 sheets per hour, it delivers outstanding print quality. It has high levels of productivity and automation which drastically shortens the makeready time, reducing the number of operators needed. Mr. Man said the company targeted January 11th to sign the purchase order so that the dateline consisted of three number ones. (1.11) This signals that the company will stay ahead of the market and be highly profitable in the New Year, he said. Manroland were, as ever,
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WE ARE PRINT.
market share from the new Manroland Sheetfed. With Langley controlling things, Manroland has morphed into a strong niche player and ROLAND aficionados are not easily turned. Why buy VW or Opel when for the same money you can have Mercedes S Class? one said. Revenue for vanity, profit for sanity goes the motto. That's certainly evident in Langleys other divisions, two of which are also German. They sanely outperform the VDMA, the
German machinery producers index, hands down. Not that the Langley group is exactly small; with Manroland revenues, this is getting on for a billion euro turnover business and its privately owned and it has substantial cash reserves and it has no debt. A year on Manroland Sheetfed has a new shareholder, a new direction and is looking to the future with confidence. What a difference a year makes.
Mr Sascha Bansemer, CEO of Manroland Japan, thanked Dr. Shimizu and his team for a fascinating presentation: As a pioneer in green printing, Manroland is proud to be the sole supplier of sheetfed presses.
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George Fischer:
an American in Africa
It has been a year since the old Manroland AG was split between the British Langley and the German Possehl groups. We spoke to George Fischer, managing director of Manroland Southern Africa, about Manroland as an American in South Africa sees it. 2012 was like the old Chinese curse, may you live in interesting times chuckles George. In some ways it was just another year in the usual topsy-turvy world of printing. In other ways, a clear signal that the old ways are now gone. In February 2012, the Langley group purchased the sheetfed manufacturing assets as well as the global selling organizations. The
George Fischer, Managing Director, Manroland Sheetfed Southern Africa
webfed manufacturing assets had been purchased by the Possehl Group. Both companies are serious industrial players, owning multiple manufacturing companies, and backed by largely debt free balance sheets. Both companies are privately owned, so the ability to plan for the long term is better than in a VC or publically owned company. Looking back to those bleaker days, George reflects, I must admit, I was a little depressed about the insolvency filing by the old Manroland AG. However, I knew that we had fantastic underlying technology base, an excellent installed base, and a solid ability to provide excellent service to our customers. We had two great companies (Sheetfed and Web) hidden under a cost base that was just too large. We were a size 36 company in a size 56 structure. While it was not pleasant, the cost cutting exercise of early 2012 was about recognizing the reality of the print market. Today, George is happy with how things are going. I look at the balance sheet of the Langley Group and I can sleep at night. I have a shareholder one person - that has shown over and again that he understands manufacturing, understands how to watch costs, understands how to build a business and above all understand that a business is about people, not just numbers. Langley has never sold any of the companies he has a acquired. He is a buy, improve, hold kind of guy. That gives me a lot of confidence. Knowing that Mr Langley personally reviews my monthly report makes me a bit nervous, but in the right way and I know that he is doing exactly the same with the seventy or so other business unit managers in his group, so Im not alone! Possehl, the owner of the Manroland Web business is a very similar organization to Langley Holdings. I have known Possehl for quite some time remarks George. They are active in a range of markets, from semiconductors to mailing systems to textiles. They are a quick study, and understand how to play to their strengths. Manroland Southern Africa has an agreement with Manroland Web Systems. I am very pleased we like them, and they like us, and Manroland is the market leader in web presses. No ifs, ands or buts. Whats not to like? Both Possehl and Langley are long term holders. They understand the need to invest in R&D, the need to give customers a sense of security to invest in the machinery, the need to have an effective aftermarket support team. They get it!
Manroland presses have longevity. The print quality of the press they sold in exchange for the new DirectDrive was as good as on the first day of production, after around 150 million printed sheets. We can achieve great printing results on our machines which satisfies our customers quality requirements even after many years. With the continuous competent support by the service team, we have invested yet again in Manroland, says Christof Bromberger. With this recent investment, the 80-year long partnership continues. The machine was installed in record-breaking time and has met all print quality test requirements in an impressive manner.
Manroland Benelux also reports new press orders in 2013 so far includes a ROLAND 705 LV DirectDrive for commercial printers, Scholma, and a ROLAND 706 LV for packaging printers, Intergrafipak, both in the Netherlands.
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Global Presence
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trophies. Staged annually by the Island Sailing Club, the 50.1 nautical miles race around the Isle of Wight off the south coast of England, -was first held in 1931 when just 25 yachts took part. In 2012 there were 1,647 entries with over 15,000 crew
competing in more than 40 classes under a handicap system known as IRC, for the famous Gold Roman Bowl trophy, which is awarded to the overall winner. manroland sheetfed returns to Cowes in August 2013 to defend its title.
Garcia,32, was appointed Managing Director of Manroland Sheetfed last summer. He has a background in mechanical engineering, and joined German machine builder Claudius Peters, a subsidiary of Langley Holdings plc, in 2003 at their Brazil facility undertaking senior roles in project management and sales until successfully taking over as managing director three years ago. Garcia continues to head Claudius Peters as well Manroland in Brazil. In December 2012 both companies
Manroland Brazil has relocated to new freehold premises purchased by Langley Holdings plc.
versions of the new Angry Birds Space Game in their Printing Technology Center in Offenbach, Germany. At the first , we did not believe they could do it because of the extremely tight schedule, but Manroland puts the customer first and exceeded our expectations.
relocated, and now share, a new large freehold building located in Sao Paulo which was purchased by Langley Holdings plc. Manroland Brazil was formed in 2009 and today employs around 26 people. As well as new offset litho press sales in emerging markets, Manroland Brazil has been concentrating on service and performance optimization of its installed base in high end commercial and packaging applications.
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A popular choice
The ROLAND 500 is growing in popularity in France; recent installations include the 6 color ROLAND 500 with coating for packaging printers BPACK, Cartonnages BES and MARCOUX. Leaflet printers LITHO-BRU and JACQUELIN also installed 6color ROLAND 500s with coating. FREPPEL installed a 7-color ROLAND 500 with coating and InlineFoiler and SELP SECURE purchased a 7-color ROLAND 500 with coating for security printing applications.
DELTA 105i UV high speed digital printing technology is designed for high offset speeds of up to 7200 sheets per hour in 3B format and even 14000 sheets per hour under certain conditions at a resolution of up to 600 dpi. It is an ideal inline integration and ensures a premium and stable print quality in addition to Manrolands modern offset systems. Mr. Rafael Penuela, CEO Manroland Sheetfed GmbH, emphasized: "Packaging printing is one of Manroland Sheetfeds strongest and most profitable businesses and as such a key growth market. We believe the ability to offer options to code and serialize sheet, label and packaging printing variably inline will help our customers develop exciting revenue streams and enable them to build longer term partnerships with their clients. We have been looking for powerful, compact and flexible digital printing systems and the DELTA from Atlantic Zeiser was the ideal choice.
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Manrolands stable has been specifically bred for high-volume, high-quality commercial and packaging fields. Take for example, the intelligent one-touch control features Manroland has worked into this thoroughbred and you're not only looking at the worlds greatest distance runner, you're looking at the smartest. The AutoPrint smart control system built into our champion is just loaded with features for greater production efficiency: quickchange job, automatic start-up sequencing, self-learning ink slide pre-set and network software with inline color control, press manager perfect and integration pilot plus, are all offered on-press. And Manroland does not stop there, the feeder end is equally stateof the-art: our unique triple suction head fixing system eliminates vibration at high speed whilst the aerodynamics are the most
precisely tuned imaginable. Add to that virtually continuous pile elevation and our all-new SelectDry drying system for highly flexible and customized drying solutions and our champion is quite simply lengths ahead of the competition. Only the legendary Manroland build is able to cope with the kind of distance the ROLAND HiPrint is capable of. Its unique combination of additional longitudinal shaft drive, outstandingly solid transmission gears and vibration-reducing cylinder bearings not only guarantee long lifetime but also benchmark print quality. And when you invest in this winner, our world-wide service organization will be there for you to make sure your champion keeps on running, wherever the course.
All ROLAND PreOwned presses have a verifiable service history, and are generally maintained from new by Manrolands local certified technicians. Cimagraf is one of Perus largest packaging producers, also specializing in flexography and commercial print, with ROLAND PreOwned they have the comfort of knowing they are investing in the very best used press available. They now operate 52 Manroland units, including an InlineFoiler. Apart from the recent purchase, all other ROLAND equipment was purchased from new.
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This investment, along with the other recent super large format orders, builds upon the recent success the new Manroland has achieved over the last year. With our new and used press sales, PrintValue advances via Future Proof upgrades and major relocation projects for customers existing presses, we believe the North American market now sees a reinvigorated Manroland that is perfectly positioned to service our customers states Managing Director, Michael Mugavero. Let us show you how the Manroland Sheetfed Team can assist you Future Proof your business and achieve your goals.
The 10-color ROLAND 700 DirectDrive provides Bek Grafische with higher productivity and shorter lead times.
With such fierce competition in todays print market, time is money; the more output accomplished, more successful the company. The new ROLAND 700 DirectDrive has done just that. With the DirectDrive technology, all plates can be changed simultaneously on up to 10 printing units, in less than one minute whilst the press is washing the blankets reducing make-ready times by up to 60%. Add to this, perfect ink distribution, flat sheet travel, precise register, and flexible sheet size selection, the ROLAND 700 DirectDrive has been uncompromisingly designed to provide the highest level of print quality with shorter lead times.
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Speaking at a dinner in December 2012 in Offenbach for management of the company's over three dozen subsidiaries from around the world Langley paid tribute to the former MD of Langley's other divisions' contribution: "I have worked with Alfred for over ten years and knew that when he agreed to do this the company would be in good hands. The post-acquisition heavy lifting is over now and with much thanks to Alfred, it has gone remarkably smoothly. I am personally very grateful that he agreed to come out of retirement to help with the transition and very happy that he will continue as a consultant to the Manroland business in 2013".
Manroland Sheetfed GmbH Senefelderallee Managing Editor: Crista Baxter crista.baxter@manroland.com 63165 Mhlheim am Main Germany Tel. +49 (0)69 83 05-0 sheetfed@manroland.com
www.manroland.com