Gelsenkirchen, Germany - Polyurethane hose maker Masterflex Group says its international focus is rapidly advancing, with its recent formal setting up of the subsidiary Masterflex Asia Pte Ltd in Singapore.
The senior manager has been on board since the end of 2011, and the subsidiary is currently moving into offices in the German Centre in Singapore. Masterflex is recruiting sales staff in Singapore as well as in neighbouring regions.
In China, where Masterflex is setting up manufacturing, it has found suitable premises with facilities for offices, a warehouse and production in Kunshan, about 1.5 h by road from Shanghai. Masterflex said the current business activities on site are promising and its first projects and new customers are "already in the starting blocks."
The group feels its accelerated internationalisation strategy as a supplier of high-tech hoses and connector systems is proving correct. "Our positive revenue development in the BRIC countries, in which we have already been operating since 2010, is highly promising," said Dr Andreas Bastin, ceo of Masterflex AG.
New companies were established in Russia and Brazil in 2010. With the step towards Asia -- and particularly China -- that began at the end of 2011, Masterflex said it is "continuing to expand consistently to the dynamic regions of the world."
In the course of this internationalisation, Masterflex sees benefits from changing its legal form to become Masterflex SE and will propose this move at its 19 June Annual General Meeting.
The Societas Europaea (SE), a legal form of the European Union, is better suited for acceptance by customers and investors that operate globally. "With the SE, we accelerate our internationalisation process and thus our appreciation potential. For this reason, this step is also correct and important for our investors," Bastin said.
Masterflex, based in Gelsenkirchen, is a specialist in the development and production of high-quality connector and hose systems using innovative high-tech plastics such as polyurethane.
With operational subsidiaries soon to number 14 in Europe, America and Asia, the Group is now widely represented globally. Masterflex says the many potential uses of its hoses, coupled with outstanding expertise in the processing of high-end plastics, enables it to provide solutions that would otherwise be inadequate or impossible with conventional materials.