GERMANY - Michael Weinig AG, the specialist for woodworking machinery, reports that it concluded an agreement at the end of March to acquire majority shares in H.I.T. Maschinenbau and H.I.T. Keilzinkentechnik.

With this strategic acquisition of a company excellently positioned on the market, Weinig is expanding its portfolio in the area of automation and mechanization and is upscaling its Glulam and sawmill technology segment.

"With H.I.T., we are expanding our competencies in the project business, and we are delighted to welcome a team with project experience to the Weinig Group," emphasizes Gregor Baumbusch, CEO of Michael Weinig AG .

This acquisition still requires the final approval of the antitrust authorities.

H.I.T. Managing Directors Franz Anton and Werner Spieth will be responsible for the operational business of H.I.T. in the coming years, and Franz Jeckle will continue to support the team in an advisory capacity for some time.

"With Weinig, we will have a strong partner committed to the further development of H.I.T.," emphasizes Franz Jeckle.

H.I.T.'s ongoing projects will continue unchanged.

Weinig achieved sales of EUR 490 million in 2021 and operates worldwide. The company employs a staff of 1,050 people at its headquarters in Tauberbischofsheim and around 2,400 in the Weinig Group worldwide.