The Woodworking Machinery Industry Association and Wood Machinery Manufacturers of America announced that they agreed to purchase the American Home Furnishings Alliance’s ownership interest in the International Woodworking Fair.

The transaction is expected to close late this year following IWF 2012. In addition, the Woodworking Machinery Industry Association and Wood Machinery Manufacturers of America announced that they have a new partnership agreement for the management and ownership of IWF.

“The year 2012 signifies a long and formidable joint venture partnership between the AHFA, WMIA and WMMA for IWF,” according to a statement. “For the past 30 years, the three associations have jointly operated one of the most successful trade shows in North America. The agreements confirm the intentions of the three associations to solidify the ownership and operation of the Western Hemisphere’s largest woodworking equipment trade fair, and their commitment to the woodworking industry as a whole.”

“We believe that IWF is an important part of the continued success of the woodworking industry”, WMIA president John Henderson said in a statement. “Our decision is not only good for the thousands of woodworkers in North America and abroad who attend IWF, but also for the numerous companies that produce machinery, cutting tools and various supplies and exhibit at IWF.”

“AHFA has enjoyed a long and productive partnership with the WMMA and WMIA. We know IWF will continue to be a vibrant and relevant event under their joint ownership”, added American Home Furnishings Alliance vice chairman and IWF board member Wyatt Bassett.