SCHOPFLOCH, GERMANY - Homag Group reached agreements with the works councils of its subsidiary companies Buetfering Schleiftechnik GmbH, Beckum, and Torwegge Holzbearbeitungsmaschinen GmbH, Löhne, as well as with the its own works council on the terms for a planned restructuring. The plan includes closing three of the Homag Group's 11 production facilities.

ASSAGO, ITALY -- European woodworking machinery companies continue to struggle for orders but there are some rays of hope, according to Franz-Josef Buetfering, president of Eumabois, the European federation of woodworking machinery associations.

The supervisory board of HOMAG Group AG approved the management board’s proposal to expand the restructuring measures already planned without prejudice to the rights of the co-determination bodies.

SCHOPFLOCH, GERMANY -- Homag Group AG, an international manufacturer of woodworking machinery, said it is lowering its projected results for the whole of 2011 after failing to reach its financial targets in the second quarter of 2011.

SCHOPFLOCH, GERMANY -- Homag Group AG, a manufacturer of woodworking equipment, said its order intake climbed 13% in the first quarter compared to the same time frame in 2010.