HOMAG Group further expands activities in solid wood sector
Acquisition of Kallesoe Machinery A/S
Schopfloch, April 29, 2021. HOMAG Group further expands its activities in the solid wood sector with the acquisition of a majority interest in the Danish mechanical engineering company Kallesoe Machinery A/S. Thereby, HOMAG is taking the next step towards establishing itself as a leading technology partner for sustainable construction with solid wood.
As a result of the acquisition, the HOMAG product range covers a good 70% of the process chain in the production of glued laminated timber elements. HOMAG has pooled all activities in the solid wood sector in the Solid Wood Processing business unit. A central role is played by its subsidiary WEINMANN, which offers production facilities for timber construction, such as framework and wall stations. A further addition is the mechanical engineering company System TM, which was acquired in the previous year, is also based in Denmark and offers systems for the sorting, optimizing and finger-jointing of solid wood boards. Kallesoe has already cooperated with System TM on several projects in the past.
HOMAG is acquiring a good 70% of the shares in Kallesoe Machinery A/S from the Christensen family, with the residual approximately 30% remaining with the Kallesoe family. The purchase price is in the low double-digit million-euro range. “It was important for us to find a competent investor for Kallesoe, who will lead the business into a successful future. We are confident that HOMAG is exactly the right partner for this,” explained the previous majority shareholder Otto Christensen. “We look forward to working with HOMAG to expand our position in the growth market of solid wood construction,” said Bruno Kallesoe, Chief Sales Officer of Kallesoe Machinery A/S.
Sustainable material of the future
The market for sustainable timber houses is growing rapidly. More and more builders are choosing wood as a building material since it is a fast-growing resource that binds CO2. Building with timber is climate-friendly. According to experts, a wooden house binds about 80,000 kg of CO2. Timber has very good insulating properties, and the use of wooden components accelerates the construction of houses. In terms of fire protection, modern timber houses are almost comparable to reinforced concrete constructions. Building heights of 100 meters are also possible with wood. In the US, wooden buildings with up to 18 stories will be allowed starting from 2021. In France, half of public buildings must be built using timber construction starting from 2022.
This press release contains certain statements relating to the future. Future oriented statements are all those statements that do not pertain to historical facts and events or expressions pertaining to the future such as “believes”, “estimates”, “assumes”, “forecasts”, “intend”, “may”, “will”, “should” or similar expressions. Such future-oriented statements are subject to risks and uncertainty since they relate to future events and are based on current assumptions of the Company, which may not occur in the future or may not occur in the anticipated form. The Company points out that such future-oriented statements do not guarantee the future; actual results including the financial position and the profitability of the HOMAG Group as well as the development of economic and regulatory framework conditions may deviate significantly (and prove unfavorable) from what is expressly or implicitly assumed or described in these statements. Even if the actual results of the HOMAG Group including the financial position and profitability as well as the economic and regulatory framework conditions should coincide with the future-oriented statements in this press release, it cannot be guaranteed that the same will hold true in the future.Back to List