SCHOPFLOCH, GERMANY – Homag Group AG, a manufacturer of woodworking equipment, reported that it returned to profitability in the fourth quarter but lost approximately $28 million for all of 2009.
According to the Moscow-based Lespron Network, Homag’s revenue fell 39% to $709 million in 2009, down from $1.16 billion in 2008.
“Although we are by no means back to where we were before the crisis, the volume of business is clearly on the rise,” Homag CEO Rolf Knoll told Lespron.
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