TAUBERBISCHOFSHEIM, GERMANY - Weinig AG said it is close to finalizing an agreement to acquire Holz-Her.

According to a press release posted on the Weinig's corporate Web site, “Subject to the successful conclusion of negotiations and approval by the Weinig AG board of directors, Holz-Her is expected to trade as an independent brand within the Weinig Group with effect from April 1, 2010, continuing the firm’s rich tradition.”

“Holz-Her’s expertise in the field of CNC is of particular strategic interest to Weinig,” commented Weinig Chairman Walter Fahrenschon.

Weinig said, "The deal would enable both companies to consolidate their global market presence through innovative products and services."

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