DOWNERS GROVE, Illinois (AP) -- Industrial parts manufacturer Dover Corp. is buying Switzerland's Maag Group in order to broaden its geographic reach and bolster its fluid solutions business.
Terms of the deal announced Monday were not disclosed.
Maag is a global leader in premium external gear pump technology and engineered products for the polymer, plastic, chemical and petrochemical industries. Dover makes winches, tank trailers, balers and other equipment.
Maag, which is based in Zurich, Switzerland, will become part of Dover's Pump Solutions Group.
Dover, based in Downers Grove, Illinois, said that it anticipates the deal will add slightly to its 2012 continuing earnings per share due to integration and acquisition-related costs.
The transaction is expected to close at the first quarter's end.
Last month Dover reported that its fourth-quarter net income jumped 40 percent on strong demand from energy companies and other clients.
Its shares rose $1.28, or 2 percent, to $65.79 in afternoon trading Monday.
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