Masterflex AG / Disposal/Miscellaneous 19.10.2009 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Ad hoc disclosure in line with section 15 WpHG Masterflex AG sells subsidiary Angiokard Medizintechnik GmbH & Co. KG Focus on High-Tech Hose Systems core business intensified Gelsenkirchen, 19 October 2009. Masterflex AG has concluded a contract for the disposal of its subsidiary Angiokard Medizintechnik GmbH & Co. KG. The additional inflow of liquidity means that the Company's consolidated net debt will fall to EUR47.2 million. Masterflex AG has thus already reduced its debt by EUR10.8 million, respectively just under 20 per cent, within one year. The rigorous disposal of non-core activities which do not have synergies with the core business, as well as cash flow in the profitable core business and stringent cost management within the Group, have made a significant contribution to reducing debt. In line with international accounting standards (IFRS), EUR3.5 million is to be written down on a one-off basis as a result of the deconsolidation. The contract was concluded subject to the usual conditions, e.g. approval by the anti-trust authorities. The transaction is scheduled to be completed towards the end of 2009. With this disposal, Masterflex AG is pressing ahead with its focus on the profitable High-Tech Hose Systems core business. Rigorously reducing the past high level of debt is an important criterion for achieving this and is coordinated closely with Masterflex AG's financing partners. In addition, the step further reduces the Group's complexity and ensures the sustainability of the Company. Angiokard is a manufacturer of medical kits and has been part of the Masterflex Group since 2000. In 2008, Angiokard generated revenue of EUR14.9 million. For further information: Masterflex AG, Investor Relations, Willy-Brandt-Allee 300,D-45891 Gelsenkirchen, Germany, stephanie.kniep@masterflex.de, Tel. +49 20997077 44 --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: Explanatory text: The plan for further measures for the strategic realignment of Masterflex AG also includes examining the possibility of selling other non-core activities. The Executive Board of Masterflex AG is currently planning the possible implementation of these steps within a timeframe of up to two years. Overall, Masterflex AG has broadened its scope. Dr. Andreas Bastin, CEO of Masterflex AG, comments: 'After having secured financing for Masterflex AG and now agreed the sale of Angiokard, we can again focus rigorously on the operational and strategic expansion of our core business. Our target is international leadership in our defined specialised markets. To this end, we intend firstly to continue developing our strong innovative capability with new types of product, with a particular focus on new materials and new applications. In 2010, we will bring around a dozen product innovations onto the market. Secondly, we are continuing to press ahead with internationalisation so that we can tap into the markets in the many 'blank spaces' on the map. The leveraging of the Scandinavian market which was begun in spring this year, as well as the continued very encouraging development in the USA, serve to highlight our transnational growth potential and demonstrate that the measures we have implemented are the right ones.' For further information: Masterflex AG, Investor Relations, Willy-Brandt-Allee 300,D-45891 Gelsenkirchen, Germany, stephanie.kniep@masterflex.de, Tel. +49 20997077 44 19.10.2009 |[![CDATA[|[a href="http://www.dgap.de"|]Financial News transmitted by DGAP|[/a|]]]|] --------------------------------------------------------------------------- Language: English Company: Masterflex AG Willy-Brandt-Allee 300 45891 Gelsenkirchen Deutschland Phone: +49 (0)2099 70 77-44 Fax: +49 (0)2099 70 77-20 E-mail: stephanie.kniep@masterflex.de Internet: www.masterflex.de ISIN: DE0005492938 WKN: 549 293 Indices: Prime all share Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Hamburg, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: Masterflex AG sells subsidiary Angiokard Medizintechnik GmbH & Co. KG
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