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February 13, 2012
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| 06:22 EDT |  | DOV |
| theflyonthewall.com: | Dover to acquire Maag Group | | Dover announced that it has signed a definitive agreement to acquire the Maag Group. Maag, which is headquartered in Zurich, Switzerland, will be part of Downers Grove, Illinois based Pump Solutions Group, or PSG, within the Fluid Solutions platform of Dover's Engineered Systems segment. Terms of the transaction were not disclosed. Maag is a global leader in premium external gear pump technology and engineered integrated solutions for the polymer, plastic, chemical and petrochemical industries. Maag operates globally, with operations in Switzerland, Germany, the U.S., Italy, and China, as well as additional sales support offices around the world. Maag posted 2011 revenue of approximately $170M. The transaction is subject to customary closing conditions and regulatory approvals and is expected to close at end of Q1 of 2012. Dover expects this acquisition to be slightly dilutive to 2012 continuing EPS due to integration and acquisition related costs. :theflyonthewall.com |
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