Dover to extend leadership position in the plastics and polymers processing equipment industry
Dover has acquired Ettlinger Kunststoffmaschinen GmbH and its affiliated entities ("Ettlinger"), based in Königsbrunn, Germany. Ettlinger, which will become part of the Maag business unit ("Maag") within Dover's Fluids segment, is a leading manufacturer of filtering solutions for the plastics recycling industry. Terms of the transaction were not disclosed.
The addition of Ettlinger's high performance filtration systems will uniquely position Maag as a leader in the plastics processing equipment industry with solutions addressing both virgin and higher growth recycled plastics processing markets. Ettlinger's annual revenue was approximately EUR 16 million in 2017.
Robert A. Livingston, Dover's President and Chief Executive Officer said, "We are pleased to have Ettlinger join Dover as we extend our already strong industry position in plastics and polymers processing. In addition to the meaningful share repurchases we will complete in 2018, we also expect to continue to build and enhance our platforms with focused bolt-on transactions like Ettlinger, which deliver greater-than-GDP growth along with highly accretive margins." PWKD10012018