Dover Completes Acquisition of Tokheim Dispenser and System Businesses
DOVER COMPLETES ACQUISITION OF TOKHEIM DISPENSER AND SYSTEM BUSINESSES
Acquisition expands market reach and product offerings to deliver the industry's only single source end-to-end fuel site solution
Downers Grove, IL, January 7, 2016 - Dover (NYSE: DOV) today announced that it has completed the previously announced acquisition of Tokheim's dispenser and system businesses, which will become part of OPW, a business unit within Dover's Fluids segment.
Tokheim is a leading manufacturer of fuel dispensers, retail automation systems and payment solutions. With a strong presence in the European, African, South American and Asian markets, Tokheim is one of the most recognized brands in the retail fueling industry, and will strengthen OPW's global position.
Robert A. Livingston, President & Chief Executive Officer of Dover said, "Tokheim and OPW have been leaders in the retail fueling industry for more than a century. The integration of Tokheim's advanced line of dispensers and automation systems with OPW's product offerings will provide our customers even more industry-leading solutions on a global scale."
Dover is a diversified global manufacturer with annual revenues of approximately $7 billion. We deliver innovative equipment and components, specialty systems and support services through four major operating segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for 60 years, our team of 26,000 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 www.dovercorporation.com.
OPW is a global leader in fluid handling solutions for the safe and efficient handling and distribution of fuels and critical fluids. OPW designs and manufactures retail service station equipment, CNG, and LPG nozzles and accessories, electronic tank gauge systems, fleet fuel control systems, car wash systems, loading arms, valves and dry-break couplings, tank truck equipment, and rail car valves. OPW has 1,850 employees with manufacturing operations in North America, Brazil, Europe, China, India, Malaysia, and Australia and sales offices around the world. For additional information on OPW, please visit www.OPWGlobal.com.
Tokheim is one of the world's leading manufacturers of fuel dispensing and automation equipment. With operations around the globe, Tokheim offers customers a complete range of fuel dispensers and pumps, retail automation systems, payment terminals, media devices, tank gauges, environmental, replacement parts and upgrade kits. For more information, visit www.tokheim.com.
Dover makes information available to the public, orally and in writing, which may use words like "anticipates," "expects," "believes," "indicates," "suggests," "will," "plans" and "should," which are "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Dover refers you to the documents that it files from time to time with the Securities and Exchange Commission, such as its reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of risks and uncertainties that could cause its actual results to differ materially from its current expectations and from the forward-looking statements contained in this press release. Dover undertakes no obligation to update any forward-looking statement.
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