Dover recently finalized its Witte Pumps & Technology GmbH acquisition, according to a press release.
"The acquisition of Witte complements and expands Maag's product and technology offering, improves our geographic reach and provides access to new customer segments,” Maag's president, Ueli Thürig, said. “The integrated business will be better positioned to serve our global customer bases from 22 worldwide locations, and better enable us to drive strong growth grounded in the technological leadership that Maag and Witte are known for globally. Additionally, we expect to drive significant cost efficiencies through our integrated and larger scale footprint."
Witte will now form part of the Maag business unit within Dover's Pumps & Process Solutions division.
Witte specializes in gear pumps and related spare parts forming part of the chemical, plastic & polymer processing, food & beverage and pharmaceutical industries. Since its establishment nearly 39 years ago, it has expanded globally, opening offices in the United States and China.
The company is credited with contributing to technology and outstanding technical solutions, and generating an average of over $42 million in revenue in 2022.