One of the world’s largest machinery suppliers to the woodworking industry, Lignum Technologie AG, has announced plans to float on the stock exchange.
The announcement, made at the Ligna exhibition in Hannover, came as the German company revealed its 2000 financial results – its first full year of trading since being created from the merger of Homag and IMA.
In 2000 Lignum increased its world market share to 24%, turnover was up 21.2% to DM1.4bn, foreign business was up from 62% to 70% and there were record net orders worth DM1.24bn. Net earnings after tax and distribution to silent shareholders rose more than 100% to DM54.3m.
Lignum board spokesman Klaus Bukenberger commented: ‘On the strength of our dynamic growth and our position as technological and world market leader, we are in a position to offer plenty of substance to the money markets. The aim of our flotation is to finance further dynamic growth and expand the market share.’
He said official listing would be sought during the third quarter of 2001.
Mr Bukenberger said the financial results were ‘impressive’ testimony to the success of the Homag-IMA merger and the group was reaping the benefit of heavy investment.
During the year, he added, it built new facilities in Germany, modernised other plants and created sales subsidiaries in Denmark and China. Around 400 new jobs were created.
Lignum anticipates future growth in turnover above the market level. It will invest around DM75m, create more than 200 new jobs, expand its international sales and servicing network, extend the product range along the supply chain and reinforce its service providing sector.
