Masterflex AG: Concentration on core business with disposal of bicycle and e-bike activities almost complete
(firmenpresse) - Masterflex AG / Key word(s): Enterprise/
Masterflex AG: Concentration on core business with disposal of bicycle
and e-bike activities almost complete
DGAP-Media / 26.04.2011 / 14:06
Press Release
Masterflex AG:
Concentration on core business with disposal of bicycle and e-bike
activities almost complete
- Majority of Mobility unit sold
- Remaining fuel cell technology activities up for grabs despite good
potential
- Core business of high-tech hoses with great revenue and profit momentum
Gelsenkirchen, 26 April 2011. Masterflex AG has successfully concluded the
sale of its 51% equity interest in Clean Air Bike GmbH, Berlin, and its
100% share in Velodrive GmbH, Herten. The equity interests have been
transferred to the buyer. Since the end of 2008, Masterflex has pursued a
strategy of parting with activities that do not form part of its core
business. Write-downs associated with the sale were fully taken into
account in the 2010 annual financial statements, thus resulting in no
further burdens for Masterflex AG.
Dr Andreas Bastin, Chief Executive Officer of Masterflex AG: 'We have
steered Masterflex AG through an extremely radical restructuring process
and are now concentrating solely on our core business of high-tech hoses -
with good growth and excellent value creation compared with the rest of the
industry. However, in order to leverage the significant potential
demonstrated by our activities for climate-neutral mobility solutions,
further investments would be necessary that we cannot and do not wish to
make at present.'
The only Mobility unit activity still remaining within the Masterflex Group
relates to fuel cell technology. Masterflex is also planning either to
dispose of this segment or to partner it with a strong third party.
Masterflex Brennstoffzellentechnik GmbH is a specialist provider of fuel
cell-based energy supply systems for mobile, portable and stationary
applications for indoor and outdoor use. These systems supply energy using
hydrogen produced regeneratively, with the option to combine this with
renewable energies.
Masterflex Brennstoffzellentechnik GmbH develops innovative and tailored
solutions for remote power supply. Examples of applications include
independent and self-sufficient power supplies and auxiliary systems for
measuring stations, sensors, signalling equipment, test vans,
special-purpose vehicles, mobile phone networks as well as light electric
vehicles for environmentally compatible mobility for leisure and industry.
One of the highlights of the fuel cell technology unit is the internally
developed, unrivalled safety technology for safely using hydrogen, even in
enclosed areas. The safety module (Lopes) reduces the storage pressure to
below ambient pressure, preventing hydrogen from escaping. Many fuel cell
systems from other manufacturers are also based on this principle.
Dr Bastin: 'Our fuel cell technology features interesting in-house
developments and enjoys a good position on the market. We are offering
these activities for sale, or looking to join forces with a strong partner,
for one simple reason: following our successful restructuring, we must not
spread ourselves too thin again, but must press ahead with our highly
targeted investment plans. This is why we are prioritising the security of
our high-margin core business ahead of the opportunities presented by fuel
cell technology, which still requires intensive development and
investment.'
Further information: Masterflex AG, Investor Relations,
Willy-Brandt-Allee 300, D-45891 Gelsenkirchen, Germany, ir(at)masterflex.de,
tel. +49 209 97077 12
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This report contains forward-looking statements regarding future
developments which are based on current assessments and planning of the
management. Such forward-looking statements are characterised by words such
as 'expect', 'would', 'up to', 'possible', 'anticipate' and similar
expressions. These statements are subject to risks and uncertainties.
Should one of these factors of uncertainty or other imponderables occur or
should the assumptions underlying the statements prove to be incorrect, the
actual developments could differ significantly from the possible
developments specified or implied in these statements. The Company does not
intend to and assumes no obligation to update forward-looking statements on
an ongoing basis, as these statements are based exclusively on the
circumstances at the date of their publication.
End of Media Release
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26.04.2011 Dissemination of a Press Release, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Masterflex AG
Willy-Brandt-Allee 300
45891 Gelsenkirchen
Deutschland
Phone: +49 (0)209 97077-12
Fax: +49 (0)209 97077-20
E-mail: ir(at)masterflex.de
Internet: www.masterflex.de
ISIN: DE0005492938
WKN: 549 293
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP-Media
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121380 26.04.2011
Datum: 26.04.2011 - 14:06 Uhr
Sprache: Deutsch
News-ID 33872
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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