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Germany's Masterflex announced its expansion into Asia

December 22/2011

(Masterflex) -- Following intensive preparations, the Masterflex Group is now starting its expansion into Asia. The Asian lead company Masterflex Asia Pte Ltd is currently in the process of being established in the city-state of Singapore. Another subsidiary is also being set in motion near Shanghai in China. While the operation in Singapore will focus on the expansion of distribution in the region, as well as the management of all business in Asia, plans for China also include production from 2012 onwards.


With this move to the East, Masterflex, the global specialist for hoses made from high-tech plastics, is driving its growth strategy forwards. "In Asia, and particularly in China, we see a potential for our hose and connector systems in the medium and long term", says Dr Andreas Bastin, Group CEO. "Alongside our wide range of products for industrial applications, such as in mechanical and plant engineering, our solutions for the medical as well as food technological expertise for applications in the aviation and automotive industries are in increasing demand on the Asian markets."


After the successful expansion in Brazil and Russia in 2010, this step means that Masterflex will serve all four BRIC countries in future. Bastin adds: "With an annual growth forecast of 8%, the BRIC countries hold much greater growth potential than Europe and North America. That is something that we cannot ignore, nor do we have any intention of doing so."


The move into Asia was preceded by intensive preparations in terms of market research. As Bastin explains, "We spent more than a year analysing market data and competitors, holding extensive talks with existing or potential customers from Asia, conducting research in the field, visiting trade fairs and speaking to German SMEs with a presence in the area - not least to avoid teething problems as best we can. And now itТs all happening."


Some Masterflex customers from Europe and North America have production facilities in the region. There is also an array of potential new customers, including both companies from the West and Chinese manufacturers that wish to export their products and are therefore very interested in high-quality connector elements.


mrcplast.com

Author:Marina Ivanova
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Category:General News
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