Polymer melt technology specialist Maag Group is slated to become part of another fluids-oriented business within Dover Corp.
Maag and Dover announced Feb. 13 that they have signed a definitive agreement for undisclosed terms.
Maag is a leader in gear pumps, pelletizers and filtration systems for plastics, chemicals and other industries. Maag will become part of the Pump Solutions Group, a business unit within Dover's fluid solutions platform. Dover is based in Downers Grove, Ill.
Maag Group was established in 2010 through the merger of Maag Pump Systems and Automatik Plastics Machinery.
Maag Group employs more than 500 and logged sales of about 130 million euros in the year ended Dec. 31. It is based in Zurich, with offices in Germany, the U.S., France, Italy, Singapore, Malaysia, Taiwan, China and Brazil. The firm does its manufacturing in Switzerland, Germany, Italy, and in Charlotte, N.C.
Maag has been owned by Scottish industrial investor Clyde Blowers Capital IM LLP and Swiss industrial investor CGS Management. Major customers include resin producers and original equipment manufacturers like Coperion Corp. and Brückner Technology Holding GmbH. Maag also sells directly to extrusion firms.
The market for gear pumps and related machinery has been rebounding from the doldrums of 2009, according to Alex Hamilton, a spokesman for Clyde Blowers.
Maag's order book is strong, especially for customers in polymers; China, Asia and the aftermarket are highlights, he said.
Dover is a multibillion-dollar, diversified global manufacturer. Its four major operating segments are communication technologies, energy, engineered systems, and printing and identification. It employs more than 33,000. The firm is traded on the New York Stock Exchange.
Dover's Pump Solutions Group makes positive displacement pumps and supporting technologies, and manages locations in the United States, France, Germany, India and China.
The parties expect to finalize the purchase at the end of the first quarter of 2012.