Gelsenkirchen/Planá (Czech Republic), July 6, 2011 - Masterflex AG is further expanding its international presence and is now servicing the Czech and Slovakian markets directly through its own subsidiary in Planá/Czech Republic. Up to now, the subsidiary in the Czech Republic has exclusively produced vulcanized hoses made of neoprene or silicone and coated glass fabric on state-of-the-art equipment. Classic areas of application for the hoses include dryer systems in the plastics industry as well as applications in vehicle, aircraft and engine construction. The start of local sales in the Czech Republic and Slovakia was marked by the company's presence at "For Industry", an international trade show covering the entire spectrum of industrial production.
Dr. Andreas Bastin, Chairman of the Executive Board of Masterflex AG: "The step of not only producing in the Czech Republic and Slovakia, but now also offering the entire range of services of the Masterflex Group locally and close to the customers, is the consistent continuation of our internationalization strategy. In 2010, we already launched our own subsidiaries in Brazil and Russia. The start in both emerging markets was very promising. After the end of the economic crisis, we also see clear potential in the Eastern European countries and therefore want to position ourselves close to the market with our own subsidiaries in selected countries." Masterflex AG is currently represented by subsidiaries in eight countries. Following the completion of restructuring in 2010, Masterflex is concentrating on further advancing its own core business with high-tech hose systems internationally. A 24.2% increase in revenue to €13.9 million and an operating profit margin of 17.2% (EBIT) clearly demonstrate the success in the first quarter of 2011.
"Participating in For Industry was a very big success for us," says Gerald Franke, Managing Director of Masterflex Cesko s.r.o. in Planá. "Since For Industry is held at the same time as For Surface (surface technology), For 3P (packaging technology) and For Waste (waste management), it covers the complete spectrum of industrial production in this trade fair association. This is ideal for us with our wide range of applications. As a specialist for highly sophisticated hose and connection systems, our booth was very busy. Through the exhibits at the trade show, the trade audience had the opportunity to convince themselves of the quality of our high-quality products directly on site."