GERMANY - With effect from January 26, 2017, Homag Group AG has increased its stake in BENZ GmbH Werkzeugsysteme, from 51 percent to 75 percent. The Homag Group plans to take over the remaining 25 percent stake by the end of 2018, thus becoming sole shareholder. 

The seller of the shares is the Zimmer Group, Rheinau, which previously owned 49 percent of the shares in BENZ GmbH. "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", emphasizes Pekka Paasivaara, CEO of Homag Group AG. "We want to continue to build on this cooperation and expand the worldwide sale of BENZ products. To speed up important investment decisions, we have decided to acquire the remaining shares."

In the process of the Homag Group's recent increase in its investment in BENZ, Günther and Martin Zimmer have resigned as managing directors of BENZ GmbH Werkzeugsysteme. As a result, Marco Huber is now sole managing director. Martin Zimmer sees this concentration of shares as positive: "BENZ will thus have a strong shareholder, who can secure its worldwide growth." Marco Huber adds: "This ensures continuity at BENZ, and enables us to continue to grow."

In 2009 the Homag Group acquired a 51 percent stake in BENZ GmbH Werkzeugsysteme, one of the world's leading manufacturers and suppliers of components and systems for tool and machine technology. Despite the change in the majority shareholding, BENZ will remain an independent company, and the BENZ brand will be preserved. The aim is to achieve further growth in all parts of the company.