Gelsenkirchen, Germany -- Masterflex AG, a specialist polyurethane hose manufacturer, has agreed to sell its subsidiary SUPRO GmbH of Wilster, Germany, a 10 Aug company statement said.
SUPRO, a specialist in the production and finishing of precision surfaces for the luxury good industry, had reported "substantial losses" in the past few years, "negatively impacting group development to a significant extent," Masterflex said.
The transfer of the equity interest is due to take place by the end of the financial year, the company said. No more financial details were released.
The unit has no synergies with Masterflex's hi-tech hose systems, and the sale will therefore allow the company to focus on its core PU hose business, the statement said. (RD)