Mastrad: observation period extended by six months
July 18, 2024 at 03:44 pm IST
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Mastrad shares climbed over 15% on the Paris Bourse on Thursday, following the renewal of the observation period to which the cookware manufacturer is subject as part of its safeguard procedure.
The Paris Commercial Court has extended the observation period by a further six months, until January 16, 2025, in order to validate the effects of the commercial actions implemented to relaunch its business.
The company said it was "confident" in its ability to win back major customers, and welcomed the court's decision, which, from its point of view, will enable it to validate its recent strategic choices.
New products are due to be presented in the second half of the year in order to return to profitable growth, the company stressed in a press release.
Mastrad - which found itself in difficulty following the discontinuation of business linked to a contract with Whirlpool - asserts that its commercial efforts in the United States, with industrial customers and directly via online sales, are beginning to bear fruit, even if its sales remain strongly affected by the end of the Whirlpool contract.
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Mastrad specializes in designing and marketing of kitchen tools (steel soaps, ceramic chafing dishes, molds, cutting tools, spatulas, cooking mitts, peelers, corkscrews, thermometers, etc.). The group also distributes third-party kitchen products. Net sales break down by activity as follows:
- sale of kitchen tools (51.8%): items created by the group and manufactured by subcontractors. Products are marketed to independent retailers, large stores, mail-order companies, hotel and restaurant chains, etc.;
- design and distribution of kitchen tools (48.2%).
Net sales are distributed geographically as follows: France (29.3%), Europe (8.8%), the Americas (59.2%), Asia (2.4%) and other (0.3%).
MASTRAD 
