Dover Acquires Advansor A/S

Expands Presence in Refrigeration Equipment Market

Enhances Offerings Which Help Customers Reduce Their Carbon Footprint and Operational Costs

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Nov 07, 2011, 09:10 ET

DOWNERS GROVE, Ill., Nov. 7, 2011 /PRNewswire-FirstCall/ -- Dover Corporation (NYSE: DOV) today announced that it has acquired Advansor A/S. Advansor will become part of Hill PHOENIX, an operating company within Dover's Engineered Systems segment. Terms of the transaction were not disclosed.

Based in Denmark, Advansor specializes in the design and manufacture of HFC-free, CO2 transcritical refrigeration and heat pump systems for supermarkets and light industrial applications. Together, Advansor and Hill PHOENIX have more than 550 CO2 systems operating in supermarkets in the United States, Europe and Canada, making the combined company the largest manufacturer of CO2 refrigeration systems in the world.

"Advansor is the world leader in CO2 transcritical technology and has an impressive track record that is proven by hundreds of successful installations," said Bill Johnson, president of Hill PHOENIX. "The addition of Advansor CO2 technology to our expanding Second Nature® line of glycol and CO2 systems will provide Hill PHOENIX customers with even more options for reducing their carbon footprint and operational costs. Hill PHOENIX's continued focus on product innovation is a key differentiator in our markets, and this acquisition will build on our technology-leading portfolio."

Advansor customers will benefit from the innovative engineering and design capabilities and refrigeration technologies that Hill PHOENIX brings to market. Through continuous investment in research and development, Hill PHOENIX has consistently been at the forefront of the U.S. market, combining industry-leading refrigeration technologies with the most innovative merchandising answers available to customers today.

Advansor A/S, based in Denmark, manufactures and sells sustainable thermal systems for the production of heating and cooling in supermarkets, refrigeration and freezing facilities, CHP plants, the food processing industry and chemical industry as well as air conditioning for office buildings with CO2 as the refrigerant.

Hill PHOENIX Inc., a Dover Company, is based in Conyers, Ga. The company designs and manufactures commercial refrigerated display cases and specialty products, refrigeration systems, integrated power distribution systems and walk-in coolers and freezers. Visit www.hillphoenix.com or call 800-283-1109 for more information.

Dover Corporation is a global manufacturer providing innovative components and equipment, specialty systems and support services for a variety of applications in the industrial products, engineered systems, fluid management and electronic technologies markets. For more information, please visit www.dovercorporation.com.

Dover Corporation makes information available to the public, orally and in writing, which may use "forward-looking statements" under the Private Securities Litigation Reform Act of 1995 that concern future events and the performance of Dover Corporation. Dover Corporation refers you to the documents that it files from time to time with the Securities and Exchange Commission, such as its reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of risks and uncertainties that could cause its actual results to differ materially from its current expectations and from the forward-looking statements contained in this press release. Dover Corporation undertakes no obligation to update any forward-looking statement.

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SOURCE Dover Corporation