DGAP-News: HOMAG Group AG strengthened by group restructuring
(firmenpresse) - DGAP-News: Homag Group AG / Key word(s): Miscellaneous
HOMAG Group AG strengthened by group restructuring
11.01.2011 / 17:46
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Schopfloch, January 11, 2011. Following the proposal of HOMAG Group AG's
management board, the supervisory board passed a resolution at its meeting
on December 16, 2010 to implement measures to restructure the group.
Accordingly, the smaller entities of FRIZ Kaschiertechnik GmbH, Weinsberg,
and TORWEGGE Holzbearbeitungssysteme GmbH, Löhne, are to be linked to
larger entities within the HOMAG Group in order to secure the continued,
sustainable expansion of the market position and global market leadership.
The products of the two group entities FRIZ and TORWEGGE are of great
strategic relevance for the HOMAG Group, supplementing its product
portfolio in important areas. Technology from FRIZ and TORWEGGE
consequently play an important role in the HOMAG Group's core strategy,
which entails offering industrial and workshop customers a complete range
of products along their process chains.
The restructuring measures will be implemented in several steps, improving
EBITDA by more than EUR 1.5 million per annum in the medium term. As
announced, however, these measures will already lead to extraordinary
expenses in the fourth quarter. These will arise primarily from site
relocations and moderate adjustments to headcount. Despite these additional
extraordinary expenses of up to EUR 2 million incurred in 2010, there is no
change to the forecast of a positive net profit for the full year 2010. The
much closer cooperation (shared services) and the medium-term plans to
merge the companies are expected to ensure long-term success in the
relevant product segments.
Furthermore, there is currently a concept under review on how to strengthen
and increase the competitiveness of another group company's range of
products. HOMAG's CEO, Rolf Knoll, is convinced that 'the measures already
introduced and those currently being reviewed will continue to safeguard
the group's strategic success in the medium and long term, enabling us to
further expand our market position as global market leader.'
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Background information
With its 16 specialized production companies worldwide, 21 group-owned
sales and service companies and approximately 60 exclusive sales partners,
HOMAG Group AG's market position is excellent and its portfolio as a
comprehensive system supplier and technology partner makes it unique.
Backed by a workforce of some 5,000 employees, the company sees itself as
the leading global manufacturer for plants and machinery for the
woodworking and wood materials industry for the production of furniture and
construction elements as well as timber frame houses. The group also offers
its customers a wide range of services in related areas for production
machines and equipment. HOMAG Group AG shares have been trading on the
Prime Standard of the Frankfurt Stock Exchange since July 13, 2007 and were
listed on the SDAX of the German Stock Exchange on October 2007.
Disclaimers
This press release contains certain statements relating to the future.
Future-oriented statements are all those statements that do not pertain to
historical facts and events or expressions pertaining to the future such as
'believes', 'estimates', 'assumes', 'forecasts', 'intend', 'may', 'will',
'should' or similar expressions. Such future-oriented statements are
subject to risks and uncertainty since they relate to future events and are
based on current assumptions of the company, which may not occur in the
future or may not occur in the anticipated form. The company points out
that such future-oriented statements do not guarantee the future; actual
results including the financial position and the profitability of the HOMAG
Group as well as the development of economic and regulatory framework
conditions may deviate significantly (and prove unfavorable) from what is
expressly or implicitly assumed or described in these statements. Even if
the actual results of the HOMAG Group including the financial position and
profitability as well as the economic and regulatory framework conditions
should coincide with the future-oriented statements in this press release,
it cannot be guaranteed that the same will hold true in the future.
Information:
HOMAG Group AG
Investor Relations
Simone Mueller
Phone: +49 7443 13-2034
simone.mueller(at)homag-group.com
www.homag-group.com
End of Corporate News
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11.01.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Homag Group AG
Homagstr. 3-5
72296 Schopfloch
Deutschland
Phone: +49 (0)7443 / 13 - 0
Fax: +49 (0)7443 / 13 - 2300
E-mail: info(at)homag-group.de
Internet: www.homag-group.de
ISIN: DE0005297204
WKN: 529720
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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108668 11.01.2011
Datum: 11.01.2011 - 17:46 Uhr
Sprache: Deutsch
News-ID 32984
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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