|   Schopfloch   |  Germany

HOMAG strengthens leading position in China

Schopfloch, May 5th 2020. The HOMAG Group significantly strengthens its focus in China. Successful agreement with HOMAG China Golden Field to form one strong organization. HOMAG Group acquires remaining 75% of shares.

HOMAG has started its China business already 40 years ago in a close partnership with HOMAG China Golden Field (HCGF). Over the years, HOMAG became the #1 reliable end-to-end supplier for Chinese customers in demand of high quality woodworking machinery and solutions.

With 450 employees HCGF joins HOMAG Group in China to form one united organization. In this new setup, a team of 750 employees in total will serve our Chinese customers. The merger is expected to be effective in autumn 2020 subject to local regulatory approvals.

Within China, HOMAG is the only international provider with a full-scope organization including engineering, production, sales and service. HOMAG is able to offer complete solutions including software packages and digital tools to match the rising expectations of the market in respect of quality and latest technology.

Pekka Paasivaara, CEO HOMAG Group: "China as the largest furniture manufacturer in the world is an important strategic market for HOMAG. With this integrated organization and its highly skilled people HOMAG is well prepared to meet the future needs of the Chinese market in terms of growth, increasing automation and digitalization.

Dr. Markus Vöge, Executive Vice President Sales & Marketing HOMAG Group: “The HOMAG Group has already been able to demonstrate its competence and strength as a turnkey supplier for many large-scale customer projects. We are looking forward to serve our Chinese customers optimally with high-quality, future-proof solutions.”

Company Background

HOMAG Group

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, 23 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 some 6,600 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.

HOMAG China Golden Field

HOMAG China Golden Field Ltd. was founded in 1979. From a one-man company to current professional team with 450 people, HCGF has positioned itself as a market leader in the woodworking machinery industry in China. During the past four decades, HCGF has introduced countless new processes, technology and machinery to their Chinese customers in the furniture industry, mainly in terms of flooring, door, window, wall board and secondary processing for wood based panels.

Disclaimer

This press release contains certain statements relating to the future. Futureoriented 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.

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