Dover Corporation Acquires Corning Frequency Control
01 Settembre 2004 - 7:31PM
PR Newswire (US)
Dover Corporation Acquires Corning Frequency Control NEW YORK,
Sept. 1 /PRNewswire-FirstCall/ -- Dover Corporation (NYSE:DOV)
announced today that its Dover Technologies subsidiary has
completed the acquisition of Corning Frequency Control (CFC), a
division of Corning Incorporated (NYSE:GLW). CFC is a leading
supplier of quartz crystals, oscillators and filters to the
communications, test and instrumentation, position location,
automotive, and military/aerospace electronic markets. Terms of the
transaction were not disclosed. CFC will be integrated into Dover
Technologies' Vectron International division. "This acquisition is
in keeping with Vectron International's strategy to be a leader in
the precision frequency generation and control industry," said Rick
Hajec, President, Vectron International. "We believe the strengths
of this combination offer a great deal of value to our customers.
The expanded product offerings, dynamic corporate culture and
dedication to innovation and customer service of the new Vectron
give us a strong industry position and one of the most
comprehensive lines of custom engineered solutions in the industry.
We have a world-class staff to support these products, as well as
global manufacturing and services to satisfy the needs of our
customers throughout the world." Vectron International is a world
leader in the design, manufacturing and marketing of frequency
generation and frequency control products. With 10 development
& manufacturing centers in the U.S., Europe, and China, the
company supplies products which fulfill critical functions in the
telecommunications, data communications, wireless, military,
satellite communications and multimedia markets in both consumer
and industrial applications worldwide. Dover Corporation is a
diversified industrial manufacturer with over $5 billion in annual
revenues and is comprised of approximately 50 operating companies
that manufacture specialized industrial products and manufacturing
equipment. Statements in this release may be "forward-looking",
which involve risks and uncertainties. These include economic and
currency conditions, market demand, pricing and competitive and
technological factors, among others, as set forth in the company's
SEC filings. DATASOURCE: Dover Corporation CONTACT: Paul Goldberg,
Assistant Treasurer of Dover Corporation, +1-212-922-1640 Web site:
http://www.dovercorporation.com/
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