Dover Corporation to Acquire Extrusion Specialist Cloeren
Dover Corporation has signed a definitive agreement to acquire Cloeren Incorporated, a specialized manufacturer of high-performance extrusion T-dies and feedblocks. The deal, which aims to bolster Dover's Pumps & Process Solutions segment, will integrate Cloeren into the MAAG business unit upon the transaction's expected closure later this year.
Cloeren brings a robust technical portfolio and a blue-chip customer base to its new parent company, operating from a headquarters in Orange, Texas. The company maintains additional manufacturing facilities in Marshall, Texas; Eau Claire, Wisconsin; and Micheldorf, Austria. This geographical spread positions the firm near key petrochemical and energy export hubs, a factor that aligns with Dover’s broader industrial reach.
Ueli Thuerig, President of MAAG, noted that the acquisition serves as a strategic move to broaden the company’s engineering expertise in mission-critical polymer processing. By folding Cloeren into the MAAG portfolio, Dover intends to provide more comprehensive, custom-designed solutions for its plastics industry clients. While the specific financial terms of the transaction remain undisclosed, the deal is slated to finalize in the third quarter, pending customary regulatory conditions.
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