Effective as of July 30, 2012, HOMAG Group AG purchased all the remaining shares in BRANDT Kantentechnik GmbH, thus increasing its equity interest from 70 to 100 percent. Equal amounts of shares were sold by Marianne and Heinrich Brandt (brother and sister), who are retiring from entrepreneurial responsibility. It was agreed to maintain secrecy as to the purchase price.
BRANDT has been a member of the HOMAG Group since 1976, and primarily manufactures edge banding machines in the cabinet shop segment. “By tradition, BRANDT stands for excellent product quality and a high level of reliability,” emphasizes Hans-Dieter Schumacher, CFO of HOMAG Group AG. He further states that the increase in the BRANDT shareholding is “a further step towards simplifying our group structure. At the same time, this brings about tax benefits and further synergies within the Group, that we intend to exploit.” For the employees of BRANDT, the complete takeover by HOMAG means a continuation of the existing strategic orientation and therefore ongoing continuity.
About BRANDT Kantentechnik GmbH
BRANDT Kantentechnik GmbH manufactures edge banding machines for the cabinet shop segment. BRANDT was founded in 1932 as a workshop and soon established itself as a supplier for furniture production. BRANDT’s cooperation with HOMAG Group AG dates back to 1970. In 1976, HOMAG Group AG took a majority shareholding in Heinrich Brandt Maschinenbau GmbH, which was renamed BRANDT Kantentechnik GmbH in 2000.
Disclaimer
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 announcement, it cannot be guaranteed that the same will hold true in the future.