A Majority Stake in System TM, Strengthens Stiles and HOMAG Place in the Solid Wood Industry

System TM and Stiles Machinery have for over 15 years successfully cooperated in the North American markets. Stiles is excited to announced that they have made a majority share acquisition in the Danish engineering and manufacturing partner, System TM A/S by HOMAG. Systems TM is the global leading supplier of optimization and solid wood systems. Additionally, HOMAG Group has formed a new business segment, Construction Elements Solutions. This new segment will combine HOMAG’s existing activities in automated home building along with a focus on mass timber production and processing technology. The combination of Stiles’ expanded partnership with the newly-formed Minda North America, which was announced earlier this week, Stiles’ strategic partnership with Hundegger USA, which began in 2019, HOMAG Group’s 100 percent share acquisition in Weinmann in early 2020, and the current announcement of HOMAG’s majority share acquisition of System TM A/S – solidifies the Stiles position in North America’s solid wood and mass timber industries.

FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.