CPC Expands Footprint to Accommodate Sales Trajectory

Rhea-AI Summary

CPC, part of Dover (NYSE: DOV), is expanding its operations in Minneapolis-St. Paul to meet growing demand in biopharmaceuticals and other markets. The company plans to occupy a new 168,000-square-foot facility in Arden Hills, Minn. by fall 2022, complementing existing operations in Roseville. With a doubling workforce since 2020, CPC now employs nearly 1,200 people globally and has expanded its cleanroom capabilities to meet customer needs. This strategic growth reflects increasing demand for its fluid management solutions amid expanding market opportunities.

Positive

• CPC's expansion into a new 168,000-square-foot facility indicates strong business growth and increasing demand.
• The workforce has doubled since 2020, now nearing 1,200 employees, suggesting effective scaling and market confidence.
• CPC's investment in cleanroom capacity aligns with growing needs in biopharmaceutical and healthcare sectors.

Negative

• None.

DOWNERS GROVE, Ill., Jan. 25, 2022 /PRNewswire/ -- CPC (Colder Products Company), part of Dover (NYSE: DOV) and a leading manufacturer of connection technologies used in biopharmaceutical processing, medical, thermal management, and industrial applications, is expanding its footprint in Minneapolis-St. Paul. The expansion follows the recent opening of the company's global headquarters in Roseville, Minn., which includes production operations and an additional nearby warehouse.

"The pace of our growth is due largely to our reputation in rapidly expanding markets including biopharmaceuticals, cell and gene therapy, and liquid cooling of electronics used in electric vehicle charging and high performance computing applications," said CPC President Janel Wittmayer. "Demand for our fluid management solutions has been growing substantially as these markets experience increased growth."

In January, CPC announced plans to occupy a 168,000-square-foot facility in Arden Hills, Minn., by fall 2022. The building will house new production, warehouse and office space, adding to the company's existing Roseville facilities and a cleanroom manufacturing operation in Minneapolis. CPC also doubled the size of its Roseville Class 7 cleanroom in December to accommodate increasing demands for products manufactured in a cleanroom environment, particularly from healthcare and biopharma customers.

CPC's employee base has more than doubled since 2020. Today the company employs almost 1,200 people worldwide. CPC has operations in the United States, Germany and China, including sales offices in 14 countries, and nearly 200 distributor partners around the globe.

About CPC:
CPC (Colder Products Company) is the leading provider of quick disconnect couplings, fittings and connectors for the life sciences, biopharma, industrial and chemical handling markets. Over its 40-year history, CPC has built a portfolio of 10,000-plus connector products. CPC is an operating company within Dover Corporation. For a free catalog or more information, contact CPC, 2820 Cleveland Ave. N., Roseville, MN 55113. Phone:  651-645-0091. Toll-free: 800-444-2474. Web: cpcworldwide.com

About Dover:
Dover is a diversified global manufacturer and solutions provider with annual revenue of over $7 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Fueling Solutions, Imaging & Identification, Pumps & Process Solutions and Refrigeration & Food Equipment. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 65 years, our team of over 25,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under "DOV." Additional information is available at dovercorporation.com.

CPC Contact:
Jana Stender
(612) 564-2053
jana.stender@cpcworldwide.com

Dover Media Contact:
Adrian Sakowicz, VP, Communications
(630) 743-5039
asakowicz@dovercorp.com

Dover Investor Contact:
Andrey Galiuk, VP, Corporate Development and Investor Relations    
(630) 743-5131    
agaliuk@dovercorp.com

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SOURCE Dover

FAQ

What is the recent expansion of CPC under Dover (DOV)?

CPC is expanding its operations in Minneapolis-St. Paul by occupying a new 168,000-square-foot facility in Arden Hills, Minn. by fall 2022.

How many employees does CPC currently have?

CPC employs almost 1,200 people worldwide, having doubled its workforce since 2020.

What markets is CPC focusing on for its growth?

CPC is focusing on rapidly expanding markets, including biopharmaceuticals, cell and gene therapy, and liquid cooling technologies.

What recent changes have been made to CPC's cleanroom facilities?

CPC recently doubled the size of its Roseville Class 7 cleanroom to meet increasing demands from healthcare and biopharma customers.