SCHOPFLOCH, GERMANY – Woodworking machinery manufacturer Homag AG, announced that it plans to make acquisitions next year to help reach its revenue target, according to Bloomberg.com.
Sales may rise 6% in the two years through 2010, after increasing 14% in 2007, said Joachim Brenk, Homag CEO. Homag is seeking to acquire a company in Germany or Italy with annual sales of as much as $155 million.
“We want to grow faster than the market,” Brenk said. “Since we can’t achieve that kind of growth organically, we hope to expand through acquisitions and by extending out services and sales unit.”
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