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Triton Media reports of its closing are false
LONG BEACH, Miss. (7/28/08)--Media reports Wednesday that Dover Corp. plans to close subsidiary Triton, a Long Beach, Miss.-based ATM manufacturer, are incorrect, says Triton. The Associated Press has since corrected its article, according to Triton. “We want to take this opportunity to let our customers know that reports by the media that Dover, Triton’s parent company, is closing Triton are false,” said Bill Johnson, Triton president/CEO. “Dover has no plans to close Triton.” The confusion has been attributed to a sentence in a press release from Dover explaining second-quarter results, which stated that “the loss from discontinued operations primarily reflects the decision in the second quarter to discontinue Triton in the Engineered Products segment.” The reference to “discontinued operations” in the context does not refer to the closing of the company. Rather, it is an accounting term, governed by laws that public companies must follow, which means that profits from that business are not reported in the parent companies overall numbers, Triton said. “We hope this clears up any confusion,” Johnson said. Dover Corp. reportedly has a “viable buyer” for Triton lined up and is moving ahead with the process of selling the company, according to Robert Livingston, Dover president/CEO (ATM & Debit News July 24). Triton is a provider of off-premise ATMs.


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