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Mestel SA was founded in 2008. The company aims to provide development, production and marketing of genuine rubber products, mainly in order to serve the watchmaking industry.

In September 2013, a partnership is created between PQH Holding SA and ALM Holding SA to jointly develop the company by acquiring all shares of Mestel RSS (near Genoa in Italy) and by taking over the rubber activities of its sister company, Plaspaq SA.