SCHOPFLOCH, GERMANY -- Homag Group AG reported third quarter sales of EUR 204.6 million ($279.5 million), a 19.6% increase over the same period in 2010.
HOMAG Group AG increased its sales revenue in the third quarter of 2011 by 20 percent to EUR 204.6 million compared to the prior year (EUR 171.0 million).
SCHOPFLOCH, GERMANY -- Homag Group AG announced it will eliminate 180 positions as part of its evolving restructuring and consolidation plan that includes shutting down two woodworkng machinery manufacturing plants.
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.
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