DOWNERS
GROVE, Ill., July 18,
2024 /PRNewswire/ -- Dover (NYSE: DOV) today
announced that it has acquired Demaco Holland B.V. ("Demaco").
Demaco is now part of OPW's Clean Energy Solutions business ("OPW
CES") within Dover's Clean Energy & Fueling segment.
Demaco provides critical flow control components for cryogenic
applications involving hydrogen and other industrial gases used in
a wide range of end markets exposed to attractive growth trends,
including clean energy, scientific research, and diversified
industrial applications. Demaco manufactures a wide range of
engineered products, including vacuum jacketed piping, separators,
sub-coolers, valves, couplings, loading arms, and level sensors,
for a diverse range of blue-chip customers.
Demaco brings a complementary product set and presence in the
European and Asian cryogenic markets, further enhancing OPW's
offerings and global presence and creating a leading global
cryogenic gas flow control platform.
"This acquisition marks a significant milestone in the OPW CES
business unit's expansion strategy, enhancing our capabilities and
broadening our product offerings to meet the growing demands of our
industrial gas and clean energy customers worldwide," said
Kevin Long, President of OPW.
"Demaco solidifies our ability to serve our customers more broadly,
especially in advanced technological solutions in the European
market. And like our existing clean energy brands, Demaco has been
serving the cryogenic, liquid hydrogen, and industrial gas industry
for many years with an intense focus on delivering the most
advanced infrastructures for their customers across the globe."
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:
|
Media
Contact:
|
Jack Dickens
|
Adrian
Sakowicz
|
Senior Director -
Investor Relations
|
Vice President –
Communications
|
(630)
743-2566
|
(630)
743-5039
|
jdickens@dovercorp.com
|
asakowicz@dovercorp.com
|
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SOURCE Dover