LANSDALE, PA, April 15, 2008 -- Dover Corporation announced on Friday, April 11, 2008, its acquisition of Neptune Chemical Pump Company. Neptune is now part of Dover's newly-formed Pump Solutions Group ("PSG") within the Fluid Management segment. Terms of the transaction were not released.
Neptune, based in Lansdale, Pennsylvania, is a premier manufacturer of chemical metering pumps, chemical feed systems and peripheral products. Neptune's key product lines are well known for their use in metering, dosing and injecting chemicals with emphasis on water and wastewater treatment. Other major applications include agricultural, food and beverage, and laboratory use. Neptune's fast and flexible business model features speed to market delivery and a reasonably priced alternative when compared to its competitive peer group.
Commenting on the acquisition, Soma Somasundaram, President of Dover's Fluid Solutions platform said, "The Neptune acquisition is consistent with our Pump Solutions Group strategy. It complements and broadens our existing pump portfolio while offering strong synergy opportunities within the PSG. Neptune's strong presence in water and waste water treatment further expands our presence in attractive end markets giving us a low flow, accurate metering alternative to go along with Wilden's high viscosity and corrosive fluids coverage and Blackmer's major position in the fuel transportation market."
John Allen, President of the Pump Solutions Group stated, "We expect to grow Neptune by leveraging their product offering through PSG's extensive network of distributors and suppliers world wide. Neptune's diaphragm pumps join existing pump technologies within the Wilden, Blackmer, Almatec and Griswold brands to give our customers and distributors an exciting and expanded product set." Mike Dowse, Neptune's President said, "We are excited to be part of the Pump Solutions Group. PSG's global initiatives and synergistic activities will lead Neptune into new markets, while introducing best practices and expanded opportunities."
The Pump Solutions Group features a leading manufacturer of air-operated double diaphragm pumps (Wilden) and one of the major providers of sliding vane pumps (Blackmer). Other brands within PSG include Almatec, a provider of specialty premium air-operated double diaphragm pumps for biomedical, chemical, food grade and electronics markets; Mouvex, a maker of eccentric disc pumps used in an array of applications around the globe; and Griswold, an ANSI centrifugal pump manufacturer. The Pump Solutions Group has plants in California, Michigan and Georgia as well as international facilities in Germany, China, India, France and the Czech Republic.
Dover Corporation is a global portfolio of manufacturing companies providing innovative components and equipment, specialty systems and support services for a variety of applications in the industrial products, engineered systems, fluid management and electronic technologies markets.
###
