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    DUE   DE0005565204

DÜRR AG

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Further acquisition: HOMAG expands range of systems for sustainable construction with timber

04/29/2021 | 04:55am EDT

Bietigheim-Bissingen, April 29, 2021-The HOMAG Group is taking the next step towards establishing itself as a leading technology partner for sustainable construction with solid wood. The company, which is part of the Dürr Group, today acquired a majority interest in the Danish mechanical engineering company Kallesoe Machinery A/S. Kallesoe specializes in high-frequency presses for the production of board plywood-also known as cross laminated timber-which is used, among other things, for the construction of walls for timber houses. The market for sustainable timber houses is growing rapidly. More and more builders are choosing wood as a building material since it is a fast-growing resource that binds CO2.

As a result of the acquisition, the HOMAG product range covers a good 70% of the process chain in the production of glued laminated timber elements. 'As a system supplier, we want to offer as many technologies for timber construction as possible from a single source. Due to the boom in the timber house market, the production of building elements is becoming increasingly industrialized and automated. HOMAG is the right partner for that. We are developing the solid wood business into a second pillar alongside our activities with the furniture industry,' said Ralf W. Dieter, CEO of HOMAG Group AG and Dürr AG.

HOMAG has pooled all activities in the solid wood sector in the Solid Wood Processing business unit. A central role is played by its subsidiary Weinmann, which offers production facilities for timber construction, such as framework and wall stations. A further addition is the mechanical engineering company System TM, which was acquired in the previous year, is also based in Denmark and offers systems for the sorting, optimizing and finger-jointing of solid wood boards. The acquisition of Kallesoe provides HOMAG with a further key technology. In the press lines of Kallesoe, glue is applied to solid wood boards. After that, the boards are pressed on top of each other to form panels. For additional strength, the boards are laid crosswise; then it is called cross laminated timber.

The solid wood market, and with it the demand for wood presses, is expected to achieve double-digit growth rates in the coming years. Kallesoe is one of the few suppliers of high-frequency presses. They work with high-frequency waves that accelerate the curing of the adhesive. Wood processing plants are able to produce faster and more flexibly with this technology. At the same time, operating costs are reduced because the adhesive is cheaper than with alternative bonding processes.

Kallesoe was founded in 1969 and has installed around 500 presses worldwide, approximately 60 of which use high-frequency technology. Within the HOMAG Group, the company will benefit from synergy effects and the global presence of the parent company. With around 70 employees, Kallesoe generates a turnover of around €20 million and has already cooperated with System TM on several projects in the past. HOMAG is acquiring a good 70% of the shares in Kallesoe Machinery A/S from the Christensen family, with the residual approximately 30% remaining with the Kallesoe family. The purchase price is in the low double-digit million-euro range.

Sustainable material of the future
Building with timber is climate-friendly. According to experts, a wooden house binds about 80,000 kg of CO2. Timber has very good insulating properties, and the use of wooden components accelerates the construction of houses. In terms of fire protection, modern timber houses are almost comparable to reinforced concrete constructions. Building heights of 100 meters are also possible with wood. In the US, wooden buildings with up to 18 stories are allowed as of 2021. In France, half of public buildings must be built using timber construction starting from 2022.

The Dürr Group is one of the world's leading mechanical and plant engineering firms with extensive expertise in automation and digitalization/Industry 4.0. Its products, systems and services enable highly efficient and resource-saving manufacturing processes in different industries. The Dürr Group supplies sectors like the automotive industry, mechanical engineering, chemical, pharmaceutical, medical technology and woodworking industries. It generated sales of € 3.32 billion in 2020. The company has more than 17,000 employees and 120 business locations in 33 countries. Since February 2021, the majority-owned automation specialist Teamtechnik has also been part of the Group. The Group operates in the market with the brands Dürr, Schenck and HOMAG and with five divisions:

  • Paint and Final Assembly Systems: paint shops as well as final assembly, testing and filling technology for the automotive industry, assembly and test systems for medical devices
  • Application Technology: robot technologies for the automated application of paint, sealants and adhesives
  • Clean Technology Systems: air pollution control, noise abatement systems and coating systems for battery electrodes
  • Measuring and Process Systems: balancing equipment and diagnostic technology
  • Woodworking Machinery and Systems: machinery and equipment for the woodworking industry

This publication has been prepared independently by Dürr AG/Dürr group. It may contain statements which address such key issues as strategy, future financial results, events, competitive positions and product developments. Such forward-looking statements are subject to a number of risks, uncertainties and other factors, including, but not limited to those described in disclosures of Dürr AG, in particular in the chapter 'Risks' in the annual report of Dürr AG. Should one or more of these risks, uncertainties and other factors materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performances or achievements of the Dürr group may vary materially from those described in the relevant forward-looking statements. These statements may be identified by words such as 'expect,' 'want,' 'anticipate,' 'intend,' 'plan,' 'believe,' 'seek,' 'estimate,' 'will,' 'project' or words of similar meaning. Dürr AG neither intends, nor assumes any obligation, to update or revise its forward-looking statements regularly in light of developments which differ from those anticipated. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies.

Our financial reports, presentations, press releases and ad-hoc releases may include alternative financial metrics. These metrics are not defined in the IFRS (International Financial Reporting Standards). Net assets, financial position and results of operations of the Dürr group should not be assessed solely on the basis of these alternative financial metrics. Under no circumstances do they replace the performance indicators presented in the consolidated financial statements and calculated in accordance with the IFRS. The calculation of alternative financial metrics may vary from company to company despite the use of the same terminology. Further information regarding the alternative financial metrics used at Dürr AG can be found in our → financial glossary on the web page.

Disclaimer

Dürr AG published this content on 29 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2021 08:54:00 UTC.


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