Dover Corporation has announced that Vitronics Soltec, a global leader in soldering systems and technology, is for sale. The announcement was made on July 25. Reasons for the abrupt announcement were stated in a letter to customers. The letter stresses that Vitronics Soltec, currently experiencing high sales volumes in part due to lead-free equipment replacement cycles, is not being sold for financial performance reasons, but due to a change in Dover overall marketing strategy. The letter states, “We the management team of Vitronics Soltec together with Dover would like to stress the point that the motivation for selling Vitronics is not at all related to our financial performance and is instead purely a decision made by Dover on fit with their future market segment focus.”
Reasons for the decision to sell were equally unclear. The letter, intended to quell concerns among Vitronics Soltec’s customer base, goes on to say that “After a long evaluation process and as part of a wider restructuring plan, Dover Corporation has made a strategic decision to focus on other segments in their markets … While our company has achieved strong success over many years, Dover is rebalancing its portfolio to be less focused on capital equipment. Both Dover and Vitronics Soltec see this as an opportunity to align our strong company with an investor more focused in this area.” It concludes, “Vitronics Soltec will advise you of the completed sale as the earliest possible date and our global management team will be open, honest, and quick with updates and approachable to answer questions.”
Other Dover companies in the Circuit Assembly and Test category include Alphasem A.G., DEK, Everett Charles Technologies, Hover-Davis, OK International, and Universal Instruments.
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