GHW acquires Werth-Holz

Werth-Holz Holding GmbH & Co. KG, manufacturer and supplier of wood products for the garden with an annual turnover in excess of € 39 mio, was taken over, inclusive of its stakes in a variety of companies belonging to the group, by GHW AG of Bonn effective 1 December 2004. One hundred per cent of the shares, the majority of which had previously been held by banks, have passed to GHW. There is a conspiracy of silence where the purchase price is concerned. Rainer Klee, managing director of Werth-Holz, is also to be appointed to the GHW board with effect from 1 January 2005. Founded in 2002, the company is internationally active in the field of wood technology and derived timber products, and generated a turnover in excess of € 61 mio in the year 2004.