The Homag Group intensifies its activities in the new market segment Construction Elements Solutions by acquiring 80 per cent of the shares of the Danish engineering and manufacturing company System TM, a leading supplier of optimization and systems solutions for the timber processing industry. In 2019, the company generated an annual turnover of 30 million euros with approximately 130 employees.
In addition to Homag’s focus on the furniture sector, a new business segment is being created within the Group. The new segment, Construction Elements Solutions, will combine timber production and processing technology along with Homag’s existing activities. Earlier this year, the company has already increased its stake in Weinmann to 100 per cent.
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“.
Markus Vöge, Senior Vice President Sales and Marketing of the Homag Group, explains: “The business models of System TM and WEINMANN support the strategic goals in the area of sustainability. With wood as a renewable raw material, we can achieve eco-friendly buildings and healthy living environments. Additionally, the strategic partnership with Hundegger, which was initiated in 2019, will remain an important component of our new business segment”.
Jan J. Samuelsen, ceo of System TM: “The company founders and former majority shareholders, Poul and Ingrid Thøgersen, have decided that now is the right time to retire, and to bring the ownership to new shareholders, who believe in the business philosophy of System TM and support the positive development of the company further on. HOMAG is the ideal partner for us”.
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.
