Dover Acquires Precision Gear Pumps Manufacturer
Dover announced 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 specialized manufacturer of gear pumps and associated spare parts and services for the chemical, plastic and polymer processing, food and beverage, and pharmaceutical industries. Witte expects to generate approximately €40 million in revenue in 2022, and has a strong order backlog for 2023.
"The acquisition of Witte complements and expands Maag's product and technology offering, improves our geographic reach, and provides access to new customer segments,” said Ueli Thürig, president of Maag. “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.”
For more information, visit: dovercorporation.com.
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