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A.Dover Corporation Acquires Colder Products Company
NEW YORK, Aug 05, 2005 /PRNewswire-FirstCall via COMTEX/ -- Dover Corporation (NYSE: DOV) announced today that its Dover Electronics subsidiary has completed the acquisition of Colder Products Company located in St. Paul, Minnesota. Colder will join the Components Group of companies within Dover Electronics.
Colder is the premier designer and manufacturer of plastic quick disconnect couplings and specialized liquid and gas handling devices for low pressure plastic tubing connections. Colder sells its products into a broad range of applications including the life sciences/medical, specialty industrial and chemical/food dispensing markets. Colder expects to generate sales of nearly $50 million in 2005
Ronald L. Hoffman, President and Chief Executive Officer of Dover, commented: "We are enthusiastic about what Colder, a market leader in its niche businesses, will bring to Dover. Colder is an outstanding company with a track record of innovation, healthy margins, strong brand recognition, and significant growth potential. With more than half of Colder's sales in life science and medical equipment applications, we expect this acquisition to provide an entry point for Dover into these attractive markets. Colder has a strong management team with expertise and an impressive track record of developing new, patented products and identifying new niche markets - all key elements of future growth."
Bob Livingston, President of Dover Electronics, commented: "Colder excels in offering value solutions to its customers for demanding applications and will diversify the product offerings of our Component Company group. Colder has a very strong management team and a culture of service and innovation. Its strong presence in life sciences/medical applications offers opportunities for continued growth."
Gary Rychley, President of Colder Products, said: "The management team of Colder looks forward to becoming part of the Dover family of companies and believes that joining Dover will allow Colder to continue to develop innovative products, to better serve our customers and to expand our marketplace."
For further information on Colder Products, including applications, markets and products, visit their website at www.colder.com. Dover is a diversified industrial manufacturer with $6 billion in annualized revenues from operating companies that manufacture specialized industrial products and equipment. Visit www.dovercorporation.com for further information.
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.
B. Dover Corporation Increases Quarterly Cash Dividend
NEW YORK, Aug. 4 /PRNewswire-FirstCall/ -- The Board of Directors of Dover Corporation (NYSE: DOV) today increased its quarterly cash dividend to $.17 (seventeen cents) per share, from the previous $.16 (sixteen cents) per share. This increased dividend will be paid on September 15, 2005 to shareholders of record as of August 31, 2005.
Dover Corporation is a diversified industrial manufacturer with approximately $6.0 billion in annualized revenues from operating companies that manufacture specialized industrial products and equipment.
| Product Model | Inside Diameter | Outside Diameter | Thickness |
| PCJY15 bearing | 15 | 76 | 33 |
| PCJ15 bearing | 15 | 76 | 39.1 |