Dover Corporation - DOV STOCK NEWS

Dover (NYSE: DOV) will release its fourth quarter 2021 earnings on January 27, 2022, at 6:00 a.m. Central time. A conference call will follow at 8:30 a.m. Central time to discuss the results. Dover, a global manufacturer with over $7 billion in annual revenue, operates through five segments, including Engineered Products and Fueling Solutions. Participants can join the call by dialing 1 (866) 831-8713 domestically or 1 (203) 518-9797 internationally, using conference ID DOVQ421. The call will also be available via a live audio webcast on the company's website.

Hydro Systems, part of Dover (NYSE: DOV), launched the Multi-Washer 3000 Series featuring EvoClean, a chemical dispensing system designed for on-premise laundries. This system can manage up to three washers and dispense up to eight chemicals efficiently, offering detailed reporting to lower operational costs. It incorporates Hydro Connect, a cloud-based tool for real-time management and maintenance, minimizing travel needs for configuration changes. The product aims to enhance operational efficiency, reduce costs, and improve customer satisfaction.

Dover has successfully completed its acquisition of Engineered Controls International, LLC (RegO), integrating it into the OPW Global unit of its Fueling Solutions segment. With this acquisition, Dover aims to enhance its offerings in fueling solutions and leverage RegO's expertise. The acquisition is part of Dover's strategic growth initiatives, reflecting its commitment to expanding market presence. Dover, which generates over $7 billion in annual revenue, continues to develop innovative equipment and solutions across various sectors.

Ravaglioli, part of Dover (NYSE: DOV), announced a strategic technical agreement with TEXA on December 21, 2021. This collaboration aims to enhance automotive workshop offerings through integrated diagnostic technologies, addressing modern vehicle challenges. The partnership builds on prior work in radar and camera calibration, positioning both companies to leverage their unique strengths in the automotive equipment sector. This agreement is expected to bolster innovation and improve service capabilities across Ravaglioli's and TEXA's offerings.

Dover has completed the acquisition of Acme Cryogenics for $295 million and has a definitive agreement to acquire Engineered Controls International (RegO) for $631 million, both enhancing its Fueling Solutions segment. Acme's expected 2021 sales are $70 million and RegO's $210 million, with both showing strong growth trends. These acquisitions will add over $300 million in annual sales potential in clean energy applications, contributing positively to EBITDA margins and providing synergies leveraging Dover's operational capabilities.

Dover's subsidiary 3rd Eye announced the launch of Purif-Eye, a new SaaS solution designed to assist commercial recycling haulers in identifying contamination in recycling streams. This hands-free system processes images of container contents, enabling timely contamination notifications, which helps reduce fines of up to $100 per ton for contaminated loads. 3rd Eye's technology aims to educate customers on waste monitoring, potentially generating $6,500 in additional monthly revenue per front loader. This initiative supports ESG's digital strategy for improved decision-making among fleet owners.

Dover Fueling Solutions (DFS) announced a collaboration with ACI Worldwide to enhance data security at fuel dispensers through a point-to-point encryption (P2PE) offering. This initiative aims to protect consumers' credit and debit cards, addressing the heightened security demands following the recent liability shift in the U.S. The joint solution provides comprehensive encryption of cardholder data during transactions, safeguarding against breaches and malware threats. DFS's technology allows for secure payments on various hardware, ensuring safety for fuel and convenience retailers.

Dover Fueling Solutions has launched the DMP Magnetostrictive Flex Probe, designed to enhance fuel management for retailers across Europe, Africa, the Middle East, Asia, and Latin America. This cost-effective solution uses magnetostrictive technology to provide precise readings for various fuel types and additives, including biofuels. The probe operates effectively in challenging environments and is compatible with existing DFS fuel management products. The launch reflects DFS's commitment to innovation and high performance in the fuel retail market.

Dover (NYSE: DOV) announced the launch of Rotary Virtual Support™, a service allowing customers to access essential information for wheel service and lift equipment via QR codes on new Rotary products. The initiative aims to enhance productivity and safety in the automotive service industry, addressing challenges in hiring and training technicians. Users can easily register products, access manuals, and view training materials anytime. This innovation marks a significant advancement in customer support for Rotary, which is known for manufacturing trusted vehicle lifts and service products globally.