The Glenwood Division of Dober Chemical Corp. and GE Water Technologies announced 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.
Source: Dober Group
