Holz-Her was bought by Weinig in April, after the long-established company had gone into financial administration. Weinig's supervisory board has given its approval to finalize the asset deal.
Weinig says the acquisition marks a return of its growth strategy which had been interrupted by the economic downturn. The acquisition of Holz-Her adds a proven specialist for panel processing machines, according to the company.
"The core competence of Weinig is solid wood. We will remain true to this strategic direction," says Walter Fahrenschon, Weinig's chairman of the board of management, in a press release. "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 brand which represents a piece of German engineering. We are pleased to be able to secure the future of this long-standing name."