Dover Corporation 2006 Annual Report

 

 

About Dover

We are a diversified global manufacturer of value-added products and components that serve a variety of industrial and commercial markets including energy, product identification, material handling, electronic components and equipment, mobile equipment, fluid solutions and engineered products. For over 50 years, Dover has been providing its customers with outstanding products and services that reflect the company’s commitment to operational excellence, innovation and market leadership. Today, Dover encompasses 40 operating companies and 34,000 employees around the world.

Dover’s Credo

Our goal is to be the leader in every market we serve, to the benefit of our customers and our shareholders. To achieve and maintain market leadership, we manage according to this consistent philosophy:

  • Perceive customers’ real needs and provide products and services to meet or exceed them,
  • Provide better products and services than competitors,
  • Invest to maintain competitive advantage,
  • Expect a fair price for the extra value we add, and
  • Insist on the highest ethical standards at all times in a business culture of trust, respect and open communication.

Success demands a constant focus on product quality and innovation, and exceptional customer service. It requires a long-term orientation. We enhance our market leadership and shareholder value by acquiring likeminded businesses that strengthen our existing market positions and offer new markets. Intrinsic to Dover’s success is a decentralized management style that gives the greatest scope to the talented people who manage our companies. Dover will continue to adapt to market conditions, but our philosophy, which has served shareholders well for over 50 years, will not change.


 

Building Growth Platforms

In the past few years, Dover has focused on developing growth platforms - four of which are highlighted in this year’s annual report. Bringing companies together expands opportunities to share markets, product development initiatives, technology and manufacturing expertise. This leverages the best of what each company has to offer and creates value by sharing that knowledge across a broader span of companies - thereby driving synergy.

Going forward, we expect to continue to add to existing growth platforms - and develop new ones. These platforms, empowered by the best of Dover’s unique culture, especially the PerformanceCOUNTS program, will create sustainable long-term advantages in the marketplace.