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HOMAG Group AG Acquires Stiles Machinery Inc.

2/18/2014 3:56:44 PM
Article by Wood IQ Staff

Two market leaders are joining forces; the HOMAG Group has increased its shareholding in Stiles to 100 percent intensifying the successful partnership that has been in place for more than 30 years. After 52 years in the industry, the owner of Stiles, Peter Kleinschmidt, is retiring as President from the company. He sees the HOMAG Group as the ideal partner to continue the customer focused and growth oriented strategies for the future. The name Stiles Machinery Inc. will remain unchanged and Peter Kleinschmidt will remain on the Board of Directors.

Christian Vollmers, the current president of HOMAG Canada, will succeed Peter Kleinschmidt as president of Stiles.

Stiles has built up excellent customer relationships with its consulting expertise and outstanding service. They will continue to offer 24/7 technical and spare parts support, rebuild services, consulting and field services in the future. All current agreements and obligations entered into by Stiles will remain valid.

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