GLENWOOD, Ill. & TREVOSE, Pa.--(BUSINESS WIRE)--Jan. 7, 2004--The Glenwood Division of Dober Chemical Corporation and GE Water Technologies announced today that they have closed a transaction through which Dober will acquire, own and operate GE Water Technologies' Transportation Coolant Aftermarket business. Financial details of the transaction, which was completed prior to the end of 2003, were not disclosed.
The coolant aftermarket business manufactures, sells and distributes products used for the purpose of corrosion and scale control, cavitation and deposit control in the cooling systems of diesel engines such as trucks, locomotives, marine ships and heavy equipment. GE Water Technologies has determined that the coolant aftermarket business is not a core component of its overall business strategy going forward. In keeping with its continued commitment to customers, GE Water Technologies has found in Dober a strategic buyer that will continue to provide the coolant customers with high quality products and technical support.
"We believe that Dober, with its focus and experience in this industry, is uniquely qualified to meet the product and technical needs of this customer base," said Kevin Milici, Business Development Leader for GE Water Technologies.
"This acquisition represents growth in a market to which Dober has been committed for the last 15 years," said Thomas J. Blakemore, President of Dober's Glenwood Division. "We look forward to serving our new customers with that same commitment."
Dober, a diversified chemical company founded in 1957, serves the industrial laundry, water treatment, pharmaceutical and transportation industries. Its Glenwood Division is the leading supplier of engine coolant chemistry, supplemental coolant additives and controlled release technology to the global heavy-duty transportation industry. A leader in controlled release technology, Dober of Glenwood is also the producer of "Smart Release" -- long-life controlled release solutions for the transportation industry. For more information regarding about Dober, please visit their website at www.dober-group.com
GE Water Technologies, a unit of GE Infrastructure, integrates the activities GE Betz, GE Osmonics and GE Glegg in a global platform supplying specialty chemicals, pumps, valves, filters, fluid handling equipment and customized services for improving the performance of water, wastewater and process systems. The business serves a broad range of industries in 50 countries around the world, and is headquartered in Trevose, Pennsylvania. Further information can be found on its Web site (www.gewater.com). GE Infrastructure is a major component of the General Electric Company (NYSE:GE).
For more information relating to this transaction, please contact
Michael Sarris
Vice President Business Development
Dober Group - Dober Of Glenwood Div.
333 W 195th Street
Glenwood, IL 60425
(888) 755 5545
(708) 755 8225 (Fax)
Jim Tierney
Global Communications Leader
GE Infrastructure Water Technologies
(215) 942-3569
(215) 498-6797
--30--RM/ph*
CONTACT:
GE Infrastructure Water Technologies
Jim Tierney, 215-942-3569