Monday, April 29, 2024
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The HOMAG Group completed its acquisition by purchasing the remaining 20 percent of shares in System TM at the start of April 2024. System TM is a part of HOMAG Group’s Solid Wood Processing business unit focused on core woodworking, is one of the world’s leading suppliers of customised solutions to the solid wood industry with more than 40 years of experience. Their innovative and reliable solutions feature latest woodworking technology and high levels of machine-to-machine integration.
Previously, in 2020, HOMAG had acquired an 80 percent stake in the Danish engineering and manufacturing company, which specialises in machinery and services for solid wood processing. The products from System TM are utilised in various applications, including timber house construction.
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.”
“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.” Dr. Schmitt concluded.
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.
Read more news on: HOMAG Group, tapio, Dürr Group, solid wood processing
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Tags: Homag group, solid wood processing, tapio, timber house construction, wood, wood and panel, woodworking, woodworking and manufacturing, woodworking industry
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