Homag Group expands new business segment

The Homag Group has acquired 80 percent of the shares of the Danish engineering and manufacturing company System TM A/S, a supplier of optimization and systems solutions for the timber processing industry.

The acquisition aligns with the company’s creation of a new business segment, Construction Elements Solutions, that combines timber production and processing technology.

"We want to become a system supplier for the complete process chain in the area of construction elements, including cross-laminated timber,” Pekka Paasivaara, CEO of Homag Group, said in a statement. “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."

For more, visit www.homag.com.