On 7 June, Indus Holding took over H. Heitz Furnierkantenwerk, subject to approval by the Federal German Cartel Office. The relevant application was submitted to the Federal German Cartel Office in Bonn on 8 June; the scrutiny process is being conducted under file reference B1-104/16.
The sale to Indus by the former main shareholders Guido and Ralf Heitz was executed as part of a successor arrangement. However, following their departure as shareholders, Guido and Ralf Heitz remain as CEOs. Indus intends to integrate the newly acquired company, which claims to be the world’s leading manufacturer of veneer edging and cladding veneers for the furniture industry, and which in 2010 had taken over the veneer division of Richter Furniertechnik, into its Building/Infrastructure division.