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SMT & Inspection | May 18, 2005

Dover sells Hydratight Sweeney

Dover Corporation is selling its Hydratight Sweeney business to Actuant Corporation of Glendale, Wisconsin, United Kingdom.
Hydratight Sweeney, with headquarters in Birmingham, United Kingdom, manufactures and provides bolting products and services to the oil and gas, power generation, industrial, and other end-user markets on a global basis.

The sale will result in an after-tax gain of approximately $.20 per diluted share, which will be reported as a component of discontinued operations in Dover's second fiscal quarter ending June 30. Total annual sales of Hydratight Sweeney were less than 1% of Dover's total sales.

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