Dover Corporation: Dover's announced spinoff of Well Site is credit negative due to absence of debt repayment
CORPORATES ISSUER COMMENT 8 December 2017 Contacts David Berge, CFA +1.212.553.1039 Senior Vice President [email protected] Robert Jankowitz +1.212.553.1318 MD-Corporate Finance [email protected] CLIENT SERVICES Americas 1-212-553-1653 Asia Pacific 852-3551-3077 Japan 81-3-5408-4100 EMEA 44-20-7772-5454 Dover Corporation Dover's announced spinoff of Well Site is credit negativeDover is a manufacturer and solutions provider. The company provides services through five segments: Engineered Products, which provides a range of products, software and services; Fueling Solutions, which provides components, equipment and software and service solutions enabling transport of fuels and other hazardous fluids; Imaging and Identification, which includes supplying precision marking and coding; Pumps and Process Solutions, which includes manufacturing of pumps; and Refrigeration and Food Equipment, which provides equipment and systems that serve the commercial refrigeration, heating and cooling and food equipment markets.
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