Holz-Her files for bankruptcy

Due to continued low demand for new machines and a heavy debt load, the parent company of Holz-Her U.S. Inc., Reich Spezialmaschinen GmbH, has filed documents with the German and Austrian governments for reorganization.

An independent administrator has been appointed to "assess the company," but current plans are for the business to continue to operate as usual. Holz-Her U.S. Inc. will remain in full operation, according to a company spokesman.

Holz-Her U.S. Inc. does not anticipate any interruption in its ability to provide sales, service and parts support for its network of dealers and end-users from the company's headquarters in Charlotte, NC.

An American corporation, Holz-Her U.S. Inc., has a current inventory of approximately $8 million of machines and parts.

For information, contact Richard Hannigan at Holz-Her U.S. Inc. at 704-587-3400, Ext. 332.