NEW YORK, April 27, 2005 /PRNewswire-FirstCall via COMTEX/ -- Dover Corporation (NYSE: DOV) announced today that David R. Van Loan, President of Everett Charles Technologies (ECT) has been named President of Dover Technologies, a subsidiary of Dover and the parent of ECT. Dave will be transitioning into this new role over the coming months and will report to John Pomeroy who will remain Chief Executive Officer of Dover Technologies until his retirement within the next year. Gerhard Meese, Executive Vice President of Dover Technologies will also be transitioning the companies reporting to him to Van Loan as he will be retiring in the same time frame.
Ron Hoffman, Dover's CEO, said, "Dave has done an excellent job of building Everett Charles into the premier test interconnect equipment supplier to the circuit board and back end semiconductor markets. He has displayed great strategic vision in guiding his company and will bring his high energy level and proven track record of delivering outstanding operating results to his new role. I look forward to working with Dave and know that while he embraces Dover's unique culture, he will also bring new ideas and direction to Dover Technologies."
Pomeroy commented, "It is a great pleasure to turn over the reigns of Dover Technologies to Dave as I have worked closely with him for the last nine years. He has a great track record in building a large, profitable platform in the electronics test equipment field and has extensive experience in the technology markets served by many of our companies. Dave successfully grew ECT into Dover's largest earnings company in 2004. Gerhard Meese and I will be working with Dave over the coming months to facilitate an orderly transition of leadership."
Van Loan joined Everett Charles in 1981 and led a management buyout of the spring probe business unit at that company in 1984. He grew the business organically by expanding into bare board testers, test fixtures and semiconductor test probes and then sold it to Dover in 1996. He continued to lead the company under Dover's ownership and its revenue has nearly quadrupled over the last nine years as he added semiconductor test handlers and fixtures to an expanding line of test related products.
Dover Technologies is a $1.5 billion sales segment of Dover Corporation headquartered in Binghamton, New York. Dover Technologies companies serve the Circuit Assembly and Test markets and the Product Identification and Printing markets. Dover Corporation is a diversified manufacturer of industrial products with approximately $5.5 billion in sales.
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