Complete takeover of Homag Golden Field
The Homag Group is acquiring the remaining 75 percent of the shares of its long-standing sales and service partner in China, thus significantly strengthening its focus in China. Through the agreement with Homag China Golden Field (HCGF), the Homag Group forms a strong organization.
Homag started its China business 40 years ago in close partnership with Homag China Golden Field (HCGF). Over the years, Homag has, according to its own statements, developed into the number one full-range supplier for Chinese customers who demand high-quality woodworking machines and solutions.
HCGF with its 450 employees is now forming a unified organisation together with the Homag Group in China. In this new set-up, a team of 750 employees will support the Chinese customers. The acquisition is expected to become effective in autumn 2020, subject to approval by the local regulatory authorities.
In today's press release, Homag writes that the company is the only international supplier within China with a nationwide organization including engineering, production, sales and service. Homag can thus offer complete solutions with software packages and digital tools in order to meet the market's increasing expectations in terms of quality and state-of-the-art technology.
Pekka Paasivaara, CEO of the Homag Group: "China as the world's largest furniture manufacturer is an important strategic market for Homag. With this integrated organization and its highly qualified employees, Homag is well prepared for the future requirements of the Chinese market in terms of growth, increasing automation and digitalization".
Vöge, Executive Vice President Sales & Marketing Homag Group, adds:
"The Homag Group has already proven its competence and strength as a key
supplier in many large customer projects. We look forward to continuing to
provide our Chinese customers with high-quality and future-proof