Dover announced that it has completed the acquisition of Witte Pumps & Technology GmbH, a manufacturer of precision gear pumps. Witte will become part of the Maag business unit within Dover’s Pumps & Process Solutions segment.
Founded in 1984, Witte is based in Tornesch, Germany, with offices in the United States and China. Witte is a well-recognized specialized manufacturer of gear pumps and associated spare parts and services for the chemical, plastic & polymer processing, food & beverage, and pharmaceutical industries. Witte is known for its expertise and advanced technology, outstanding technical solutions, and long-standing relationships with a premier global customer base. Witte expects to generate approximately €40 million in revenue in 2022 and has a strong order backlog for 2023.
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Speaking about the acquisition, Maag’s President, Ueli Thürig, said, “The acquisition of Witte complements and expands Maag’s product and technology offering, improves our geographic reach, and provides access to new customer segments. The integrated business will be better positioned to serve our global customer bases from 22 worldwide locations, and better enable us to drive strong growth grounded in the technological leadership that Maag and Witte are known for globally. Additionally, we expect to drive significant cost efficiencies through our integrated and larger scale footprint.”
Dover is a diversified global manufacturer and solutions provider with annual revenue of over $8 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions, and Climate & Sustainability Technologies. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 65 years, our team of over 25,000 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.”
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