WASHINGTON (dpa-AFX) - Dover Corp.(DOV) said on Wednesday that it has completed the acquisitiion of SIKORA AG, which was announced earlier. The company will now be a part of Dover's MAAG operating unit within the Pumps & Process Solutions segment.
Dover Corp had announced in May the deal to buy Bremen, Germany-based SIKORA for 550 million euros in cash. Founded in 1973, SIKORA works with industries such as wire, cable, tube, plastics, and optical fiber. In fiscal 2024, the company reported revenue of around 100 million euros and strong double-digit organic growth.
Commenting on the deal, Dover CEO Richard J. Tobin had said, 'SIKORA's technology, market reach, and installed base align with Dover's capital deployment strategy, bringing both growth and margin upside while strengthening its platform with a skilled workforce and innovation-driven culture.'
DOV closed Wednesday's trading on the NYSE at $179.14, down 1.2 percent.
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