Gelsenkirchen, Germany - Polyurethane hose maker Masterflex AG has appointed Dr Andreas Bastin as its new chief executive officer, from 1 April 2008. Bastin, an engineer, has been on Masterflex's management board since December 2006, most recently responsible for the key business area High-Tech Hose Systems, Medical Technology and Advanced Material Design.
Bastin replaces Detlef Herzog, who is taking up other interests, although he may remain as a consultant or as a member of the supervisory board.
A Masterflex statement said during Herzog's 20 years with Masterflex he, "played a decisive role in building up what is today a globally operating listed company with almost 800 employees."
Masterflex, based in Gelsenkirchen, ended 2007 with group revenue raised 19.8 percent over that of 2006, to almost Euro 139 million and earnings (EBIT) up by 51.6 percent to Euro 15.4 million.