Dover Corporation: Dover Signs Definitive Agreement To Sell Tipper Tie

DOVER SIGNS DEFINITIVE AGREEMENT TO SELL TIPPER TIE

Downers Grove, IL, October 3, 2016 - Dover DOV today announced that it has signed a definitive agreement to sell its Tipper Tie unit headquartered in Apex, North Carolina, to JBT Corporation JBT for $160 million.  Tipper Tie is a global supplier of processing and clip packaging machines. 

Commenting on the transaction, Dover's President and Chief Executive Officer, Robert A. Livingston, said, "The sale of Tipper Tie is another step in the execution of our strategy to sharpen the focus of our business mix.  We are confident the customers and channel partners of Tipper Tie will benefit from this transaction's strategic fit with JBT, as it brings together two strong players in the food processing industry."

The transaction is subject to customary regulatory approvals, and is expected to close in the fourth quarter of 2016.  
   
About Dover:
Dover is a diversified global manufacturer with annual revenue approaching $7 billion. We deliver innovative equipment and components, specialty systems and support services through four major operating segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 60 years, our team of 26,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under "DOV." Additional information is available at www.dovercorporation.com.

Forward-Looking Statements:
Dover 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. Dover 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 undertakes no obligation to update any forward-looking statement.

Investor Contact:                                                              
Paul Goldberg                                                                     
Vice President - Investor Relations                                
(212) 922-1640
peg@dovercorp.com
                                                           

Media Contact:
Adrian Sakowicz
Vice President - Communications
(630) 743-5039
asakowicz@dovercorp.com