Dover Announces Acquisition of XanTec

DOWNERS GROVE, IL (STL.News) Dover (NYSE: DOV) announced today that it has completed the acquisition of XanTec Steuerungs- und EDV-Technik GmbH (“XanTec”), a developer and supplier of automation and control solutions for industrial machinery of all types with particular focus on plastic and polymer processing machines across the globe.  XanTec now becomes part of the Maag Group (“Maag”), a trusted global provider of integrated and customizable process technology solutions for the polymer, chemical, petrochemical, pharmaceutical and food industries within Dover’s Pumps & Process Solutions segment.

Based in Germany, XanTec uses state-of-the-art planning and design, programming and manufacturing processes, and has historically collaborated extensively with Maag to deliver best-in-class integrated solutions to end customers.  Services offered by XanTec also include start-up assistance, technical monitoring of installations, preventive maintenance and remote access and diagnostics of systems.

The acquisition enhances Maag’s automation solutions offering with an Internet of Things-enabled technology, and positions Maag to grow its presence in aftermarket, remote service and monitoring solutions for the polymer processing and related markets.

Terms of the transaction were not disclosed.

About Dover:

Dover is a diversified global manufacturer and solutions provider with annual revenue of approximately $7 billion.  We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Fueling Solutions, Imaging & Identification, Pumps & Process Solutions and Refrigeration & Food Equipment. Dover combines global scale, operational agility, world-class engineering capability and customer intimacy to lead the markets we serve.  Recognized for our entrepreneurial approach for over 60 years, our team of over 23,000 employees takes an ownership mindset, collaborating with customers to redefine what’s possible.  Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under “DOV.”  Additional information is available at dovercorporation.com.

About Maag:

MAAG Group is a broadly diversified global solutions provider with integrated and customizable systems in process technology for the polymer, chemical, petrochemical, pharmaceutical and food industries. Its Pump & Filtration Systems, Pelletizing Systems, Pulverizing Systems and Recycling Systems divisions consolidate the many years of experience and in-depth know-how of the AUTOMATIK, ETTLINGER, GALA, MAAG, REDUCTION and SCHEER product brands.  MAAG Group currently employs over 1,000 people at production sites in Switzerland, Germany, Italy, the USA and China.  Additional sales and service centers in France, Singapore, Taiwan, Malaysia, India, Thailand and Brazil ensure close attention to customers’ needs. For more information, please visit www.maag.com.