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NEW YORK, Sept. 22 /PRNewswire-FirstCall/ -- Dover Corporation (NYSE: DOV) today announced that it has opened a new regional headquarters in Shanghai, China. The Shanghai headquarters will serve as a base of operations for Dover as it grows its presence both in China and across Asia. To celebrate this milestone, Dover hosted a grand opening ceremony attended by senior management, local officials, key customers and valued suppliers in Shanghai.
"We are very excited about our new regional headquarters and the opportunities we have to build Dover brands in China and across Asia," said Michael Zhang, Managing Director of Dover China. "Importantly, our increased presence will affirm Dover's commitment to these markets, and our customers and suppliers will benefit from the full strength and support of a multi-billion dollar corporation. From an operational standpoint, the Shanghai office will also enable us to leverage our scale by providing shared services for procurement, finance, legal and corporate development for all of our businesses operating in Asia."
Robert A. Livingston, Dover's President and Chief Executive Officer said, "The opening of our regional headquarters in Shanghai represents a meaningful shift in the way we do business in Asia. Though we have had a presence in China since 1985, we now have a centralized operation that connects all of our businesses in the region for the first time. The new headquarters will facilitate our aggressive pursuit of the exciting growth opportunities we see in the region. We have staffed core positions in Shanghai with local talent and provided a solid infrastructure on which to build. I am confident that with the support of our Shanghai regional headquarters, our operating companies will be better positioned to grow in this dynamic market both through increased market penetration and acquisitions."
Dover Corporation is a global portfolio of manufacturing companies 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 words like "anticipates," "expects," "believes," "indicates," "suggests," "will," "plans" and "should," which are "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. This press release contains forward-looking statements concerning future events and the performance of Dover Corporation that involve inherent risks and uncertainties that could cause actual results to differ materially from current expectations, including, but not limited to, current economic conditions and uncertainties in the credit and capital markets; the Company's ability to achieve expected savings from integration, synergy and other cost-control initiatives; the ability to identify and successfully consummate value-adding acquisition opportunities; increased competition and pricing pressures in the markets served by Dover's operating companies; the ability of Dover's companies to expand into new geographic markets and to anticipate and meet customer demands for new products and product enhancements; increases in the cost of raw materials; changes in customer demand; political events that could impact the worldwide economy; the impact of natural disasters and their effect on global energy markets; a downgrade in Dover's credit ratings; international economic conditions including interest rate and currency exchange rate fluctuations; the relative mix of products and services which impacts margins and operating efficiencies; short-term capacity constraints; domestic and foreign governmental and public policy changes including environmental regulations and tax policies (including domestic and international export subsidy programs, R&E credits and other similar programs); unforeseen developments in contingencies such as litigation; protection and validity of patent and other intellectual property rights; the cyclical nature of some of Dover's companies; domestic housing industry weakness; and continued events in the Middle East and possible future terrorist threats and their effect on the worldwide economy. 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 these and other 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.
SOURCE: Dover Corporation
Paul Goldberg,
Treasurer & Director of Investor Relations,
+1-212-922-1640
