Dover Corp. to spin off upstream business into Houston-area public company

Illinois-based manufacturer Dover Corp. (NYSE: DOV) has decided to spin off its upstream businesses within the Dover Energy segment as a standalone publicly traded company, according to a press release.

The unnamed future company — which Dover currently is referring to as “Wellsite” — is expected to be spun off no later than the second quarter of 2018, per the release. It will include the existing Dover Artificial Lift and Dover Energy Automation businesses, which are both based in The Woodlands,…

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