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Dover's (DOV) Maag Unit Wins Contract From Hainan Huasheng

Zacks Equity Research
Updated

Dover Corporation’s DOV Fluids segment unit, Maag, recently clinched a contract from Hainan Huasheng New Material Technology Co. Ltd. Per the deal, Maag will supply pumps, pelletizing systems and screen changers to Hainan Huasheng’s new polycarbonate-production facility in China.

After completion in 2020, the facility will be able to produce up to 260 kilotons per annum of polycarbonate. Polycarbonate is used worldwide as a base compound for the manufacturing of electronic, automotive, aircraft, railway and security components.

Notably, Maag got the contract because of its reputation in providing dependable, durable, safe and efficient equipment and systems that are used in the production of polycarbonate. Further, Maag offers arch-type screen changers that are available as standard equipment on pressure-adaptive sealing systems.

Dover Corporation Price

 

Dover Corporation Price | Dover Corporation Quote

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Maag is a leading developer and supplier of pelletizing systems to the polycarbonate market and currently has more than 200 production lines in operation. Its gear pumps are ideal for use in the manufacturing of polycarbonate.

Dover anticipates solid bookings for its Fluids segment and a strong book-to-bill to drive organic revenues in 2018. Dover’s results will also gain from strong growth in the pumps and process solutions and fueling and transport businesses.

Dover’s shares have outperformed the industry over the past three months. The stock has gained around 23% compared with the industry’s growth of 12%.

 

Zacks Rank & Stocks to Consider

Dover carries a Zacks Rank #3 (Hold).

A few better-ranked stocks in the same sector are Colfax Corporation CFX, Barnes Group, Inc. B and Flowserve Corporation FLS. While Colfax sports a Zacks Rank #1 (Strong Buy), Barnes Group and Flowserve carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Colfax has a long-term earnings growth rate of 12.8%. The stock has rallied 20% in the past three months.

Barnes Group has a long-term earnings growth rate of 4%. Its shares have gained 21% over the past three months.

Flowserve has a long-term earnings growth rate of 17.3%. The company’s shares have rallied 37% over the past three months.

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Dover Corporation (DOV) : Free Stock Analysis Report
 
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Colfax Corporation (CFX) : Free Stock Analysis Report
 
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