Everett Charles Technologies, a Dover Corporation Subsidiary, Acquires Multitest AG

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Everett Charles Technologies, a Dover Corporation Subsidiary, Acquires Multitest AG

POMONA, Calif., Jun 1, 2001 /PRNewswire/ -- Everett Charles Technologies (ECT), a subsidiary of Dover Corporation (NYSE: DOV) and part of Dover Technologies, announced the acquisition of Multitest AG, a leading manufacturer of semiconductor test handling equipment.

Multitest is headquartered in Germany with several locations in the United States and Asia, and serves all major geographic markets. Multitest's current product range includes the 93xx gravity handler and the MT9510 pick & place handler. Everett Charles Technologies is a leading manufacturer of electrical test products and services, including semiconductor test products, bare-board automatic test systems, Pogo(R) contacts, and bare and loaded printed circuit board test fixtures.

Commenting on the transaction, Dave Van Loan, CEO of Everett Charles said, "Multitest AG has realized substantial growth in recent years and this trend will continue as the semiconductor market recovers from its current downturn. This transaction underscores our commitment to being a leader in the semiconductor test industry and is a logical expansion of our global presence in this sector." Multitest CEO Ekkehard Ueberreiter said, "The strong position in the marketplace that Multitest has achieved in recent years is a result, not only of an innovative product range, but also a forward-looking management team. The sector's on-going consolidation and our rapid growth have motivated us to seek a stronger market position. The strategic link between ECT and Multitest will enhance our ability to acquire products and services that meet our customers' demand for innovative, integrated back-end solutions."

For more information on Everett Charles Technologies visit http://www.ectinfo.com, and for information on Dover Corporation please visit http://www.dovercorporation.com .

SOURCE Dover Corporation

CONTACT:          David S. Smith, Vice President of Dover, 212-922-1640