Dover Corporation Is Coming To The Russian Market

September 2008 will see a unique event that will be of interest to the entire power-production community. The Russian market is welcoming a major Western industrial conglomerate - the DOVER International Corporation. Dover will mark its entrance into the Russian market by holding DOVER'S DAY IN RUSSIA in Moscow. DOVER is an international corporation, which has been operating on the global market for over 50 years. Dover is a global manufacturer of innovative equipment and modern industrial products. Dover consists of 4 segments and over 40 individual firms operating on practically every continent. Dover's power-production line is based on the latest industrial developments, ultra-modern engineering systems and its successful experience of many years. On of the key companies of Dover is WAUKESHA Bearings - a world leader in the field of bearings and bearings solutions for turbomachinery. Today we are publishing an exclusive interview, the first interview in Russia with the official representative of the Dover Corporation in Russia, president of the Moscow branch of Waukesha Bearings, Pavel Goldman. Questions: 1. Pavel, the entrance of such a major industrial magnate as Dover to the Russian market is undoubtedly a significant event. Why was this decision made in the first place? Russia is one of the three most rapidly developing economies of the world. No international company, for whom growth is a desirable perspective, can possibly ignore the Russian market. Moreover, Russia's area of specialization in the global economy is increasingly narrowing itself to the power industry. The development of this industry in Russia, unlike in China, for example, is mostly accounted for by the domestic mechanical engineering. We are suppliers of component parts for the power industry as well as for the oil and gas industry. So it is only natural for the companies like ours to have a presence here. 2. How would you describe the modern structure of Dover and what are its priorities today? Dover is a large worldwide, diversified manufacturer of industrial products serving four end-use market segments. With over 50 operating companies, Dover is organized by market segment: electronic technologies, engineering systems, industrial products and the segment which I represent, Dover Fluid Management, with platforms serving fluid solutions and energy. At the operating company level, top priorities include extending global reach, executing operating and technology synergies throughout the organization and strategic investment to be the leader in every market served. 3. What are your priority tasks that you consider paramount for entering the Russian market? The priority tasks are: - The introduction of Russian consumers to Dover's production - Acquainting Dover with the needs and specificities of Russian consumers and their business subculture - Developing an understanding of the influence which governmental programs have on business development in Russia - Searching for potential partners - Establishing long-term business relations with the key consumers in the Russian market 4. How does Dover`s top management assess the economic situation in Russia? Dover`s top management believes that Russia is enjoying healthy and stable economic growth. All analysts agree that this rapid growth, especially in the power sector, will last for no less than 10 years. This growth will be accompanied by high rates of investments in infrastructure. In other words, our potential clients C producers of power generating, oil and gas equipmentC will be working at the limit of their abilities. We believe that in this situation the transition from the natural economy, still practiced by many machine-building plants, to purchasing top quality component parts from specialized companies will proceed more smoothly and more rapidly. 5. What is the role played by WAUKEHSA Bearings in promoting the Dover Corporation in the Russian market? Although Dover has had a presence in Russia through agencies and distributors, our Moscow branch office is the first true company presence here. Our office is focusing on promoting Waukesha Bearingsproducts and services but also helping to identify market opportunities for other Dover brands, such as OPW and the Pump Solutions Group. This includes helping other Dover companies establish a presence and providing the infrastructure within our branch office to support these activities. 6. Holding Dover's Day in Russia is undoubtedly a daring marketing decision for a company which is unknown to this country's market. Tell us more about this event, how it will be held and what your expectations of it are? The event will be held at the Metropol hotel on September 10. It will be attended by the top management of Dover's companies as well as by representatives of the Russian government, of the equipment-manufacturing plants and of major oil and gas companies. The program includes reports dedicated to the development of the power, oil and gas sectors, an introduction of Dover's companies and products and a free discussion of prospects for business cooperation. The official part will be followed by a reception and a concert. We are hoping that Dover's Day in Russia will help us update our current ideas about the Russian market and revise our business strategy as well as establish connections with our potential clients and partners. 7. Who is going to attend Dover`s Day in Russia on behalf of the holding`s headquarters? Dover Day will be attended by Bill Spurgeon, chief executive officer of Dover Fluid Management, as well as presidents and senior executives from many of the Dover Fluid Management segment companies. We will also have key technical and commercial leaders from each operating company to provide product introductions and business strategy insights to our guests. 8. Which Russian companies can expect to be invited to Dovers Day in Russia? From among the end users of our equipment we intend to invite representatives of Gasprom, Rosneft, Transneft, BP and other major oil and gas companies. As to production plants, invitations will be sent out to the leading manufacturers of turbines, generators, compressors and pumps. 9. Who is Dover's key rival in the Russian market and what is your attitude to commercial competition? We of course welcome competition in any market we serve. We believe competition is the driving force for continuous improvement and innovation in all areas of emphasis within all of Dovers companies. Since Dover serves a variety of end-use markets it is very difficult to pin-point specific competitors, though competition exists in each market we participate in. For Waukesha Bearings, it is evident that original equipment manufacturers provide their own bearing solutions today. We believe that as technology advances, end-users and original equipment manufacturers will look to companies such as ours to provide new engineered solutions; for Waukesha that is high-performing fluid film and active magnetic bearing systems. 10. In Russia you are not only a representative of Dover but also of the Waukesha Bearings company. Could you tell us more about your company. As I have already mentioned, our company manufactures two groups of products: friction bearings and magnetic bearings. The company has been operating since 1946 and is among the major global leaders in its field. Among our clients are such well-known companies as Simons, General Electric, Alstom, Mitsubishi, Solar and many others. Our company has every reason to be proud not only of its growth but also of its leading position in the global market with regard to bearings-manufacturing technologies. Our technical leadership is based on the research conducted by the company at an extremely modern research center in the US. Typical applications of our bearing technology include centrifugal compressors, expandors, gas and steam turbines. Our customer base includes such world leaders as Siemens, Solar turbines, GE, Alstom, Mitsubishi and others. The company has production facilities, offices and representatives in the US, the UK, Mexico, Russia, Japan, China as well as in other countries. 11. Pavel, will you allow me get a bit personal and ask you how long you have been working with Dover and what experience you have acquired over this period? I have been working for Waukesha Bearings and Dover for over 4 years now. Prior to joining Waukesha I worked for General Electric in the power generation industry. Dover has a very unique business culture that provides a combination of entrepreneurial spirit and a structured approach to support and encourage growth and performance. Dover provides the structure necessary for each company to exceed world-class operating performance; at Dover it is referred to as PERFORMANCE COUNTS metrics. Personally, I have found that each operating company within Dover is provided the opportunity to develop and execute its own strategy. As a senior manager within Waukesha Bearings, it is challenging yet rewarding to be part of this strategic process 12. In your opinion, what can Dover as a whole and the Waukesha company on its own offer the Russian power industry? As I see it, Dover???s companies can offer Russian production plants top quality component parts, whose can play a double role: first, it can help boost the competitiveness of Russian production plants while avoiding the replacement of their own manufacturing techniques by foreign equivalents, secondly, it will help to boost the production efficiency by way of outsourcing and focusing on the key production processes. 13. What would you like to say to Dover's potential Russian clients We would like to build our cooperation with you along lines, which would lead to our common pie being larger than all our individual pieces together. We have a lot to offer each other. Thank you.

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