Dover Corp. reported it has signed an agreement in place to take over the Maag Group, a Switzerland-based designer and producer of external gear pumps and other engineered supplies for manufacturers of polymer and plastic products, chemical and petrochemicals. The value of the purchase was not announced, but Dover said it would impact its 2012 earnings.
The transaction remains incomplete pending some customary closing conditions and regulatory approvals. Dover anticipates the acquisition will be completed at end of 2012’s first quarter.
Dover is a conglomerate that has manufactures specialty equipment and component parts for communications, energy industries, printing/identification, and engineered systems and components. It said Maag will become part of its Downers Grove, Ill.-based Pump Solutions Group, which produces positive-displacement pumps as part of Dover’s Engineered Systems Fluid Solutions business unit.
Maag has operations in China, Germany, Italy, Switzerland, and the U.S., and sales offices worldwide.
"The acquisition of Maag further supports our strategic goal of deploying capital in our key growth spaces and will enhance our overall fluids position through the expansion of PSG's product portfolio and technological depth within its core markets of chemicals and petrochemicals," stated president and CEO Bob Livingston.
