DOWNERS
GROVE, Ill., Aug. 12,
2024 /PRNewswire/ -- Dover (NYSE: DOV) today
announced that it has acquired SPS Cryogenics B.V. ("SPS") and its
affiliated business, Special Gas Systems (SGS) B.V. ("SGS"),
located in Heerhugowaard, the
Netherlands. SPS and SGS are now part of OPW's Clean Energy
Solutions business ("OPW CES") within Dover's Clean Energy &
Fueling segment.
SPS and SGS design, manufacture, and supply vacuum-insulated
piping systems for a wide variety of liquified gases like nitrogen,
oxygen, carbon dioxide, and other industrial gases. SPS and SGS
bring a complementary product offering and expanded European
presence to OPW CES's leading global cryogenic gas flow control
platform.
"This acquisition represents a logical addition to our recent
acquisition of Demaco supporting the OPW CES growth strategy,
boosting our capabilities and diversifying our product portfolio to
address the increasing global demand for clean energy," stated
Kevin Long, President of OPW. "The
addition of SPS and SGS, along with the acquisitions of Demaco and
Marshall Excelsior last month, expands our position in the
cryogenic and industrial gas sectors, reinforcing our commitment to
delivering cutting-edge technological solutions to our
customers."
About Dover:
Dover is a diversified global manufacturer and solutions
provider with an annual revenue of over $8
billion. We deliver innovative equipment and components,
consumable supplies, aftermarket parts, software and digital
solutions, and support services through five operating segments:
Engineered Products, Clean Energy & Fueling, Imaging &
Identification, Pumps & Process Solutions and Climate &
Sustainability Technologies. Dover combines global scale with
operational agility to lead the markets we serve. Recognized for
our entrepreneurial approach for over 65 years, our team of
approximately 25,000 employees takes an ownership mindset,
collaborating with customers to redefine what's possible.
Headquartered in Downers Grove,
Illinois, Dover trades on the New York Stock Exchange under
"DOV." Additional information is available at
dovercorporation.com.
Forward-Looking Statements:
This press release contains "forward-looking" statements within
the meaning of the Private Securities Litigation Reform Act of
1995, as amended, including statements regarding the anticipated
effects of the transaction. All statements in this document other
than statements of historical fact are statements that are, or
could be deemed, "forward-looking" statements. Forward-looking
statements are subject to numerous important risks, uncertainties,
assumptions, and other factors, some of which are beyond the
Company's control. Factors that could cause actual results to
differ materially from current expectations include, among other
things, general economic conditions and conditions in the
particular markets in which we operate, changes in customer demand
and capital spending, competitive factors and pricing pressures,
our ability to develop and launch new products in a cost-effective
manner, and our ability to realize synergies from newly acquired
businesses. For details on the risks and uncertainties that could
cause our results to differ materially from the forward-looking
statements that may be contained herein, we refer you to the
documents we file with the Securities and Exchange Commission,
including our Annual Report on Form 10-K for the year
ended December 31, 2023, and any subsequently filed Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K. These
documents are available from the SEC, and on our
website, www.dovercorporation.com. The Company undertakes no
obligation to publicly update any forward-looking statement,
whether as a result of new information, future events or
otherwise.
Investor Contact:
Jack
Dickens
Senior Director - Investor Relations
(630) 743-2566
jdickens@dovercorp.com
Media Contact:
Adrian
Sakowicz
Vice President – Communications
(630) 743-5039
asakowicz@dovercorp.com
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SOURCE Dover
