CINCINNATI, OHIO – OPW, an operating unit within Dover Corporation's (NYSE: DOV) Energy segment, and global leader in fluid handling solutions, announced today that it has completed two acquisitions. OPW has acquired UK-based Fibrelite, a leader in composite access covers and containment systems for retail fueling sites and Sweden-based Kungsors Plast AB ("KPS"), a leader in high density polyethylene (HDPE) fusion piping systems for retail fueling sites. Terms of each transaction were not disclosed.
"The combination of three of the most respected brands in the retail petroleum industry, OPW, KPS, and Fibrelite creates an unprecedented portfolio of complementary best-in-class products. This enables us to provide our customers with the best solution available, supplied and supported from a single source, anywhere in the world," stated David Crouse, OPW President. "By leveraging each company’s strengths, we create the best team to develop even more innovative solutions to address the evolving needs of our global customer base."
"The addition of Fibrelite and KPS is consistent with the OPW platform growth strategy," stated Soma Somasundaram, President and CEO of Dover Energy. "It's exciting to consider the breadth of solutions and possibilities that will result from leveraging the strengths of these market-leading companies."
OPW is the global leader in fully integrated fluid handling, management, monitoring and control solutions for the safe and efficient handling of fuels and critical fluids from the refinery to the commercial and retail points of consumption, including loading systems, rail and transport tank truck equipment, tank gauging equipment and automated fuel management systems, valves and fittings, underground and above ground storage tank equipment, spill containers, overfill prevention devices, secondary containment sumps and flexible piping, fuel dispensing products, and clean energy fueling nozzles and accessories for LPG, Hydrogen and CNG. OPW has 1200 employees with manufacturing operations in North America, Europe, Brazil, China and India and sales offices around the world. For additional information on OPW, please visit www.OPWGlobal.com.
Fibrelite launched the first composite access covers for the retail petroleum industry in the 1980's. From this point, a product-category was created in which Fibrelite remains the world leader. Fibrelite also developed the industry's premium line of resin transfer molded (RTM) tank and dispenser sumps. Fibrelite has manufacturing locations in the UK, Malaysia, and US.
KPS pioneered the use of HDPE Fusion piping systems for fueling stations in the 1990's. Fusion piping is the preferred technology for most markets outside of North America with KPS as a market leader. KPS's best-in-class system includes conductive High Density Polyethylene Fusion pipe and fittings. KPS also offers HDPE piping for LPG fueling applications. KPS products are manufactured in Sweden with sales offices and warehouses throughout Europe, SE Asia, and China.