Dover Completes Acquisition of Maag Group
DOWNERS GROVE, Ill., March 13, 2012 /PRNewswire-FirstCall/ -- Dover Corporation (NYSE: DOV) today announced that it has completed the previously announced acquisition of Maag Group ("Maag") for a purchase price of approximately $285 million, subject to normal post-closing adjustments. Maag will become part of Dover's Pump Solutions Group ("PSG") within the Fluid Solutions platform of the Engineered Systems segment.
Dover Corporation is a multi-billion dollar diversified global manufacturer. For over 50 years, Dover has been providing its customers with outstanding products and services that reflect the company's commitment to operational excellence, innovation and market leadership. The company focuses on innovative equipment and components, specialty systems and support services through its four major operating segments: Communication Technologies, Energy, Engineered Systems and Printing & Identification. Dover is headquartered in Downers Grove, Illinois and employs nearly 34,000 people worldwide. Dover Corporation is traded on the New York Stock Exchange under "DOV." Additional information is available on the company's website at www.dovercorporation.com.
Dover's Pump Solutions Group (PSG®), a global leader in positive displacement pump and supporting technologies, delivers value added pumps and systems that serve customers requiring safe and efficient transfer of critical and valuable materials. PSG features world-class facilities in the U.S., France, Germany, India, and China. Additional information is available on the company's website at www.pumpsg.com .
Maag is a global leader in highly engineered gear pumps and filtration systems for the plastics, chemical, petrochemical and food industries. Maag is a complete solutions provider of specialty pumps with a reputation and focus on high quality customer driven solutions. Maag is headquartered in Zurich, Switzerland with offices in Germany, US, France, Italy, Singapore, Malaysia, Taiwan, Brazil and China. Additional information is available on the company's website at www.maag.com .
SOURCE Dover Corporation