HOMAG Group acquires remaining shares in System TM
Schopfloch, April 19, 2024 – The HOMAG Group acquired the remaining 20 percent of the shares in System TM at the beginning of April 2024. HOMAG had already acquired 80 percent of the Danish engineering and manufacturing company in 2020. System TM offers machines and services for solid wood processing. The resulting elements can be used in timber house construction, among other things.
"With our solutions for timber construction, we have built up a second business segment in recent years in addition to systems for furniture production," explains Dr. Daniel Schmitt, CEO of HOMAG Group AG. We continue to see great growth potential in this area - particularly in timber house construction - and are continuously strengthening our activities. The complete takeover of our successful subsidiary System TM is a logical step in this direction."
As already planned at the time of the purchase in 2020, HOMAG Group AG has acquired the missing 20 percent from the management of System TM, which continues to manage the company. CEO Jan J. Samuelsen emphasizes: "We described HOMAG as the ideal partner in the 2020 takeover. This is still true, as the products for timber construction complement each other very well, making us one of the world's leading system suppliers of production technology for the solid wood sector."
Company Background
The HOMAG Group is the world's leading provider of integrated solutions for production in the woodworking industry and woodworking shops. Its 14 specialized production sites, about 20 Group-owned sales and service companies and approximately 60 exclusive sales partners worldwide make the company a unique system provider. Backed by a workforce of over 7,000 employees the HOMAG Group offers its customers solutions for digitized production, based on digital data continuity from point of sale through the entire production process, combined with a comprehensive software suite. In addition, the open ecosystem "tapio" (open Internet-of-Things platform) maps the data flow along the entire value chain of the timber industry. The HOMAG Group has been majority-owned by the Dürr Group since October 2014.
Disclaimer
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