Michael Weinig AG reports that it signed an agreement to acquire majority shares in H.I.T. Maschinenbau of Ettringen/DE and H.I.T. Keilzinkentechnik of Breitenthal/DE at the end of March. This strategic acquisition of the company with its excellent position on the market will allow the specialist for woodworking machinery to expand its portfolio in the area of automation and mechanization and to upscale its glulam and sawmill technology segment.
“With H.I.T., we are expanding our competencies in the project business, and we are happy that a team with project experience will be part of the WEINIG Group,” Gregor Baumbusch, CEO of Michael Weinig AG, comments.
Due to H.I.T.’s success in recent years, the final approval of the antitrust authorities is required to conclude this acquisition. In the coming years, H.I.T. Managing Directors Franz Anton and Werner Spieth will oversee the operational business of H.I.T., while Franz Jeckle will continue to support the team in an advisory capacity for some time to come. “For us, Weinig is a strong partner who is committed to further developing H.I.T.,” Jeckle says.
In addition to sawmill technology, such as lumber sorting or edging machines, H.I.T. offers a wide range of solutions for glued timber products, such as the Lignopress or finger-jointing lines. Only two years ago, H.I.T. Maschinenbau acquired the construction plans and rights of all SMB machines – but not the brand itself. This division is now known as H.I.T. Keilzinkentechnik.
