Dover to Divest Electronics Businesses, No Buyer Named
DOWNERS GROVE, IL -- Dover intends to divest its electronics assembly and test equipment businesses, citing a need to focus on higher growth markets.
"We also plan to divest certain businesses outside our five key growth spaces, which will allow us to continue to focus on Energy, Refrigeration and Food Equipment, Communication Components, Product Identification, and Fluids," Dover president and chief executive Robert A. Livingston said.
While Dover did not mention any specific companies by name, the electronics businesses likely include DEK, Everett-Charles Technologies, MultiTest, Ovation, Techon Systems and OK International.
Based on the information provided, the conglomerate plans to keep Markem.
The company did not indicate a sale was imminent, and said it would provide updates on the progress of these planned divestitures as appropriate.
Dover's largest two competitors are ITW and Nordson. It is unclear whether either firm would be interested in acquiring any or all of the businesses, or whether Dover would sell any of them individually.
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