Homag will acquire remaining shares of Benz

Homag Group AG announced that it increased its stake in Benz GmbH and Rheinau from 51 to 75 percent. It plans to become the sole shareholder by the end of 2018.

Rheinau previously owned 49 percent of the shares in Benz, a manufacturer of tool systems for lathes and machining centers.

“Thanks to its range of woodworking products, Benz has been the Homag Group’s preferred development partner and supplier in the field of tooling systems for many years,” Homag CEO Pekka Passivaara said in a statement. “We want to continue to build on this cooperation and expand the world-wide sale of Benz products. To speed up important investment decisions, we have decided to acquire the remaining shares.”

For more, visit www.benz-tools.de/en.