GELSENKIRCHEN, Germany (Aug. 13, 2012)—Polyurethane hose maker Masterflex has posted revenue of $34.8 million in the second quarter ended June 30, a 4-percent increase year-on-year.
Earnings were $3.9 million, up 7.8 percent from the same period in 2011, while the earnings margin was down from 15.1 percent to 14.2 percent.
“Our business is performing as planned. Sentiment at trade fairs and among our customers is also mostly positive, although 2012 will not become a euphoric year due to the discussions about sovereign debt and the euro zone,” said Masterflex CEO Andreas Bastin.
“We want more international business and less Euro-centrism. We have just been granted authorisation for our Chinese subsidiary,” he said.
Bastin said the company, which also makes hoses from other high-tech plastics, is also stepping up the development of hoses in industries less dependent on fluctuations in the economy, such as foodstuffs, pharmaceuticals and medical technology.