Dover Sells Hydratight Sweeney

Resource from: CBCC Likes:3031

May 25,2005

Dover Corporation (NYSE: DOV) announced the sale of its Hydratight Sweeney business to Actuant Corporation of Glendale, Wisconsin. Hydratight Sweeney, with headquarters in Birmingham, United Kingdom, manufactures and provides bolting products and services to the oil and gas, power generation, industrial, and other end-user markets on a global basis. The sale will result in an after-tax gain of approximately $.20 per diluted share, which will be reported as a component of discontinued operations in Dover's second fiscal quarter ending June 30. Total annual sales of Hydratight Sweeney were less than 1% of Dover's total sales. Commenting on the sale, Ron L. Hoffman, President and Chief Executive Officer of Dover said, "The sale of the Hydratight Sweeney business to Actuant, where it will be combined with their Enerpac and Hedley Purvis organizations, will assure a solid continuation of Hydratight Sweeney's growth into the future. Hydratight Sweeney has contributed to Dover's success through the years and this transaction will benefit both Hydratight Sweeney's employees and Dover shareholders." Dover Corporation is a diversified industrial manufacturer with over $5 billion in annual revenues and is comprised of over 50 operating companies that manufacture specialized industrial products and manufacturing equipment.

()

【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

Add to My Favorites

[Close the window]

Previous Thrust bearings handle heavier loads
Next NSK Peterlee Hit Again by Simultaneous Layoffs and Investment

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.