The Homag Group intensifies its activities in the new market segment Construction Elements Solutions by acquiring 80% of the shares of the Danish engineering and manufacturing company System TM A/S. System TM is a leading supplier of optimization and systems solutions for the timber processing industry. In 2019, the company generated an annual turnover of approx. Euro 30 million with approximately 130 employees.
In addition to Homag’s focus on the furniture sector, a new business segment is being created within the Homag Group. The new segment, Construction Elements Solutions, will combine timber production and processing technology along with Homag’s existing activities. Earlier this year, Homag has already increased its stake in WEINMANN to 100%.
Pekka Paasivaara, CEO of Homag Group, explains: "We want to become a system supplier for the complete process chain in the area of construction elements, including cross-laminated timber (CLT). We are already in a good starting position. With System TM, we are acquiring an experienced, leading manufacturer with high-end products and a high reputation in project implementation."
Further on, the Homag Group expects the new business segment to extend economic potential from a double-digit million Euro level to a low three-digit million euro range. Additional synergies in the technological field as well as in purchasing are expected.
The Homag Group is the world's leading provider of integrated solutions for production in the woodworking industry and woodworking shops.
