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Dover Corporation: Dover Signs Definitive Agreement To Sell Tipper Tie

Oct 03, 2016 - Thomson Reuters ONE

DOVER SIGNS DEFINITIVE AGREEMENT TO SELL TIPPER TIE

Downers Grove, IL, October 3, 2016 - Dover (NYSE: DOV) today announced that it has signed a definitive agreement to sell its Tipper Tie unit headquartered in Apex, North Carolina, to JBT Corporation (NYSE: 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...