Gelsenkirchen, September 28, 2011 - Masterflex AG today signed an agreement for the sale of its fuel cell technology activities as part of an asset deal. The contract has been concluded under the usual conditions for such transactions. All accounting effects of the transaction have already been processed in the 2010 financial statements. The transfer of the assets of Brennstoffzellentechnik GmbH is planned for the short term.
The sale of Fuel Cell Technology finally completed the divestment of the loss-making Mobility business unit resolved on November 10, 2010. The two other key companies in this segment, Clean Air Bike GmbH and Velo Drive GmbH, had already been sold in the first half of 2011.
With the disposal of the last peripheral activity outside the core business, the Masterflex Group is now only active in the profitable business with high-tech hoses. The Group intends to grow further with an internationalization and innovation strategy.