Heinrich Adolf Waldrich founded his workshop at Siegen in 1840 and began production of pumps, fans for furnaces and pulleys, supplying these to the expanding German iron industry. In 1857 the firm built its first steam engine and, in the same year, its first rotary grinding machine. The firm came to specialise in grinding, turning, texturing and milling machinery. Following the death in 1879 of the founder, the works carried on under the direction of his son, also Heinrich Adolf, but in 1897 the firm was incorporated as Waldrich-Siegen Werkzeugmaschinen AG, the increased capitalisation allowing the firm to relocate to a larger factory in Burbach.
In the aftermath of the Great War the firm was able to quickly reorganise and overcome the financial turmoil of the period. Drawing on reserves from abroad it was able to acquire, in 1923, the Maschinenfabrik Herkules, a firm that had purchased the old Waldrich works in Siegen and was a specialist in roll lathes. Further acquisitions followed in the 1930s, including the well known firms of Greger und Compagnie and Oswald Niedecker, both of Frankfurt. These acquisitions gave the concern a strong position in the manufacture of general purpose machine tools, for which there were great demand with the expansion of the German automotive and aviation industries. In 1932 the firm opened an expansion factory at Coburg in Saxony to support industrial development in the eastern portion of the country.
The firm has gained a world-wide reputation for the manufacture of specialist and general purpose machine tools, and maintains representative offices abroad in most of the major industrial nations, including Liege, London, New York and Paris.
Subsidiaries of the firm include:
Maschinenfabrik Herkules AG, Siegen (machines and machine tools)
Metall und Werkzeugmaschinenfabrik Greger AG, Frankfurt (machine tools)
Metallwaren und Werkzeugfabrik Niedecker AG, Frankfurt (machine tools)
Waldrich-Siegen Werkzeugmaschinen AG, Burbach (machines and machine tools)
Werkzeugmaschinenfabrik Waldrich-Coburg AG, Coburg (machines and machine tools)