The long-established company had gone into financial administration. The Supervisory Board of the global leader for machines and facilities for solid wood processing gave its approval to finalise the asset deal. „With this step Weinig has shown its determination not only to retain, but to expand its leading market position specifically in this difficult economic climate. The Kuwaiti shareholders fully support this investment in the future of the company" emphasises the Chairman of the Board, Dr. Thomas Bach.

The latest acquisition marks a return of Weinig to its growth strategy which had been interrupted by the economic crisis. In the past Weinig had completed its solid wood process chain through consistent integration of key companies such as Waco, Dimter, Grecon, Raimann and Luxscan. The acquisition of HOLZ-HER adds a proven specialist for panel processing machines. "The core competence of Weinig is solid wood. We will remain true to this strategic direction" declares Walter Fahrenschon, Chairman of the Board of Management. HOLZ-HER will be managed under the umbrella of the Weinig Group as an independent business and production division with its own brand presence. "HOLZ-HER is a prime manufacturer with a great deal of potential, know-how and international deployment", Fahrenschon continues.

As a globally established market leader Weinig can offer the newly integrated company an ideal platform to market its attractive product portfolio successfully once more. However, Weinig also wishes to profit tech-nically from HOLZ-HER, particularly in the fields of CNC processing centers as well as edge and cutting capabilities. Synergy potential for the future has been identified in production and materials management as well as services such as marketing and HR.

"The customer will certainly be the winner from this new partnership" Fahrenschon states confidently. Weinig believes the market presence of German mechanical engineering has become stronger. Fahrenschon concludes "HOLZ-HER is a brand which represents a piece of German engineering. We are pleased to be able to secure the future of this long-standing name."