MASTERFLEX – Technische Schläuche & Verbindungen

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MASTERFLEX – Technische Schläuche & Verbindungen

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MASTERFLEX – Technische Schläuche & Verbindungen
MASTERFLEX – Technische Schläuche & Verbindungen
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Here you will find the latest news that may influence the performance of Masterflex shares. As well as dates for (partially) public communication on the share. Older news can be found in the archive.

Notification of Voting Rights  Directors Dealings

Ad hoc disclosure: Sale of Clean Air Bike and Velodrive

Masterflex AG sells majority of its Mobility unit

 

Ad hoc disclosure in accordance with section 15 WpHG

Masterflex AG sells majority of its Mobility unit

Gelsenkirchen, 20 April 2011. Masterflex AG today concluded an agreement for the sale of its 51% equity interest in Clean Air Bike GmbH, Berlin, and its 100% share in Velodrive GmbH, Herten. The contract was drawn up with the usual provisos for the relevant transactions. The transfer of the equity interests is expected to take place shortly.

The two companies operate in the bicycle and bicycle components market focussing on e-bikes/pedelecs and were part of the Masterflex Groupfs Mobility unit. Masterflex decided to dispose of this business unit in 2010. As a result, the Mobility unit was already shown as a discontinued business unit in the 2010 annual financial statements. Write-downs were fully taken into account in 2010. The sale will not result in any further burdens for Masterflex AG.

The only Mobility unit activities still remaining within the Masterflex Group relate to fuel cell technology. Masterflex is also planning either to dispose of this segment or to partner it with a strong third party. Following extensive reorganisation, Masterflex itself concentrates solely on its core business of high-tech hoses and connector systems which it has operated globally for many years.

Further information: Masterflex AG, Investor Relations, Willy-Brandt-Allee 300,

D-45891 Gelsenkirchen, Germany, <link ir@masterflex.de>ir@masterflex.de</link>, tel. +49 209 97077 12

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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.

IR-NewsMasterflex GroupAd-hoc Announcements