23 Facts About Dover Corporation

Dover Corporation is an American conglomerate manufacturer of industrial products.

Dover Corporation relocated its headquarters to Illinois from New York in mid-2010.

Dover Corporation was incorporated in 1947, and in 1955, Ohrstrom brought in the former owner and president of C Lee Cook Company, Fred D Durham, to manage his four companies.

Today, Dover Corporation is still known for its decentralized management structure, in its governance of operating companies, and for its acquisitive approach.

In 1963, Dover Corporation acquired Acme Elevator, and then Elevator Service, Reddy Elevator Company in 1964, and Hunter-Hayes Elevator Company in 1970.

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Ultimately, Dover Corporation sold its elevator business in 1999 to Thyssen AG for $1.

Dover Corporation Elevator had a pretax operating profit of $93 million in 1997 and the sale was mutually beneficial: it allowed Dover Corporation to focus on building its other businesses and moved ThyssenKrupp Elevator Americas to the number three spot worldwide in the elevator and escalator industry.

Dover Corporation was shorthanded to OPW, and in 1949 one of its engineers, Leonard H Duerr, invented the automatic shutoff fuel-dispensing nozzle valve.

Today, the basic technology of Duerr's invention continues to exist in automatic shutoff nozzles, and OPW is still a part of Dover Corporation, specializing in the design and manufacture of commercial and retail-fueling.

Dover Corporation later chose to spin off DOVatron in 1993 to shareholders, as the company specialized in circuit-board assembly and had become a source of competition for Dover Corporation customers.

Dover Corporation is a partner of the EPA's GreenChill initiative, which focuses on reducing refrigerant emissions and climate-change impact.

The following year, Dover Corporation purchased an 88 percent interest in the French company Imaje Printing Products for $200 million; this acquisition marks the largest in Dover Corporation's corporate history.

In 2006, Dover acquired Markem Corporation which specializes in identification.

Dover Corporation sold eight companies in 2001 for a total of $400 million.

Dover Corporation focused on growing target areas from 2007 to 2009, including electronic communication, energy and fluids, product identification, and refrigeration.

Dover Corporation continued to grow its refrigeration business with the 2012 purchase of Anthony International for $602.

Under Livingston's leadership, Dover Corporation moved its corporate headquarters from New York City to the Chicago area in 2010.

In 2011, Dover Corporation expanded its acoustic components business with the purchase of Sound Solutions, a manufacturer of dynamic speakers and receivers for mobile phones and other consumer electronics, for $855 million.

Dover Corporation had acquired Knowles, a designer and manufacturer of hearing-aid technology and other acoustical componentry, six years earlier for $750 million.

In May 2018, Dover Corporation spun off a large portion of its Energy segment including upstream energy businesses into a standalone publicly traded company, Apergy.

For example, in 1985 Dover Corporation restructured into five major subsidiaries to reflect its key markets of interest.

In 2007, Dover Corporation reported four segments: Industrial Products, Engineered Systems, Fluid Management, and Electronic Technologies.

Dover Corporation is as of 2022 divided into five operating segments: Engineered Products, Clean Energy and Fueling, Imaging and Identification, Pumps and Process Solutions, and Climate and Sustainability Technologies.