HAMBURG, Germany (Aug. 1)—Phoenix A.G. has sold its Malaysian hydraulic hose business to Australia´s Ryco Hydraulics Pty. Ltd. for an undisclosed price. The deal includes the Kedah-based production facilities, inventory and development and production know-how, Phoenix said. The deal completes Phoenix´s withdrawal from the hydraulic hose business. In December 2002 it sold its European hydraulic hose business to a German hydraulic systems manufacturer. The Malaysian hose business generated 2002 sales of $8.5 million. Melbourne-based Ryco has been a low-pressure hose and coupling maker since 1946 and moved into high-pressure applications in 1957. It maintains a U.S. sales office in Houston.
Phoenix sells Malaysian hose business
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