Masterflex SE — M&A Activity 2011

Apr 26, 2011

News Details

Media | 26 April 2011 14:06

Masterflex AG: Concentration on core business with disposal of bicycle and e-bike activities almost complete

Masterflex AG / Key word(s): Enterprise/

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@masterflex.de , tel. +49 209 97077 12

—————————————————————————————————————-

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

---

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.

DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Media archive at www.dgap-medientreff.de and www.dgap.de

---

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@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

- - -
121380  26.04.2011