Following the clearly positive developments in the first half of the year, the overall economic development of Masterflex AG continued to improve in the third quarter of 2010. With the establishment of a new sales company in Brazil and a joint venture with its Russian partner ZAO SovPlym, Masterflex is now further expanding its international business activities in the core High-tech Hose Systems business unit.
The Russian market for Masterflex AG's high-tech hoses and connector systems is to be successfully developed from the Russian partner's headquarters in St. Petersburg and currently from seven additional sales offices throughout Russia. SovPlym is a joint venture company with the Swedish PlymoVent AB, one of the leading manufacturers of extraction, ventilation and filter systems, which has been active in the Russian market for over 20 years.
With the new location in São Paulo, optimal conditions have been created for directly serving the South American market. Until now, the American subsidiary Masterduct Inc. (Houston, Texas) had been supplying the countries as well. "The timing for the new establishment in Brazil is just right," says Ole Stein, business unit manager for high-tech hose systems. "The market demands high-quality hose and connection systems. Massive investments in infrastructure are noticeable in Brazil."
Masterflex AG from Gelsenkirchen, which has production and sales locations worldwide, is thus once again living up to its leading role in the field of hose and connection technology. Masterflex AG opened a sales office in Sweden as recently as 2009. The Masterflex Group thus has a strong presence in many countries in Europe as well as in North and South America. Further activities and projects are already planned for the coming year.