Dover Corporation Acquires Pole/Zero Corporation
NEW YORK, Feb. 27 -- Dover Corporation (NYSE:DOV) announced today that its Dover Electronics subsidiary has completed the acquisition of Pole/Zero Corporation. Terms of the transaction were not disclosed. With the acquisition of Pole/Zero, the Microwave Products Group (MPG) of Dover Electronics' Components Group will have annualized sales in excess of $100 million.
Pole/Zero, based near Cincinnati, Ohio, is a leader in innovative and reliable RF interference mitigation products used primarily in airborne and naval defense communications applications. Pole/Zero's products, customers and manufacturing expertise are complementary with the two other MPG companies, and significant market and supply chain synergy opportunities are anticipated.
Robert A. Livingston, President of Dover Electronics, commented: "We are pleased to welcome Pole/Zero into the Dover family. The acquisition of Pole/Zero expands our capabilities and applications in defense communications and provides opportunities to pursue additional commercial communications applications."
David Wightman, President of MPG, commented: "Pole/Zero's products and management team are very well respected by their defense customers and the company is well positioned for continued growth. With the addition of Pole/Zero to our Microwave Products Group we have extended our technology base, enhanced our product offerings, and expanded our customer base.
Robert Schumacher, President of Pole/Zero, commented: "We are very excited to join the Microwave Products Group of Dover Electronics. The culture is a perfect match for the Pole/Zero business style and we are excited with the opportunity to continue growing our business and sustain our leadership position in providing RF cosite mitigation solutions in the years ahead."
For further information on Pole/Zero Corporation, including applications, markets and products, visit its website at http://www.polezero.com/
Dover Corporation (NYSE:DOV) is a diversified global manufacturer of value-added products and components that serves a variety of industrial and commercial markets including energy, defense, telecommunications, product identification, waste management and refrigeration systems. For over 50 years, Dover has been providing its customers - now in over 100 countries - with outstanding products and services that reflect the company's commitment to operational excellence, innovation and market leadership. Today, Dover encompasses nearly 40 operating companies and over 33,000 employees around the world. Headquartered in New York, the company generated over $6.5 billion in sales in 2006. For more information, please visit www.dovercorporation.com/
Source: Dover Corporation
CONTACT:
Paul Goldberg,
Director of Investor Relations of Dover Corporation,
+1-212-922-1640
Web site: www.dovercorporation.com/
