Dover Corporation - DOV STOCK NEWS

Dover (NYSE: DOV) has announced a definitive agreement to sell its Unified Brands business to Electrolux Professional AB for approximately $244 million, on a cash-free and debt-free basis. Unified Brands, expected to generate $135 million in sales for 2021, specializes in professional cooking equipment for commercial food service operators. The transaction aims to allow Dover to focus on its core businesses, while Unified Brands will benefit from Electrolux's specialized market focus. The deal is expected to close in the fourth quarter of 2021.

Dover will release its third quarter 2021 earnings on October 19, 2021, at 6:00 a.m. CT. A conference call to discuss these results will follow at 9:00 a.m. CT. Investors can participate by dialing 1 (877) 876-9176 domestically or 1 (785) 424-1670 internationally, with the conference ID DOVQ321. An audio replay will be available from 12:00 p.m. CT on October 19 until 10:59 p.m. CT on October 26. Dover, a diversified global manufacturer, boasts annual revenue of approximately $7 billion.

Heil, part of Environmental Solutions Group and Dover (NYSE: DOV), announces the expansion of its dealer network with a new Environmental Equipment Sales and Service (EESS) location in Rochester, New York. EESS has become a leading Heil dealer since its inception in 2016, serving multiple Northeastern states. The new facility will provide sales, service, parts, and support with trained technicians. Heil's long-standing reputation in refuse truck manufacturing is reinforced by this expansion, as the company continues to enhance customer service and dealer presence in the region.

Hydro Systems, a division of Dover (NYSE: DOV), has introduced the Connected Total Eclipse® Controller, an IoT-enabled electronic control system for on-premise laundries with up to four washers. This innovative controller enhances operational efficiency by providing real-time insights into productivity, chemical usage, and costs. It is compatible with existing Hydro dispensers and can be retrofitted easily. Users can access detailed reports and adjust configurations remotely, optimizing operations and reducing expenses. This expansion highlights Hydro Systems' commitment to innovative solutions in laundry management.

Dover has acquired The Espy Corporation, enhancing its Microwave Products Group (MPG) within the Engineered Products segment. Espy specializes in advanced electronic radio frequency sensor systems, improving signal intelligence capabilities. This acquisition positions MPG for growth in global signal intelligence demand, particularly within the defense industry, and allows for enhanced product offerings and cross-selling opportunities. The financial terms of the acquisition remain undisclosed. Dover reported annual revenue of approximately $7 billion.

Dover, a diversified global manufacturer, has announced that its President and CEO, Richard J. Tobin, will address the Morgan Stanley Virtual Laguna Conference on September 14, 2021, at 12:45 pm ET. The live audio webcast can be accessed via dovercorporation.com, with a 90-day replay available. Dover, headquartered in Downers Grove, Illinois, generates approximately $7 billion in annual revenue through its five operating segments, employing over 24,000 individuals worldwide.

CPC, part of Dover (NYSE: DOV), launched the MicroCNX™ Series Connectors, an innovative solution designed for biopharmaceutical manufacturers engaged in small-volume closed aseptic processes. This ultra-compact sterile connector facilitates quicker connections—up to four times faster than traditional tube welding—streamlining processes like cell therapy and gene therapy. The connector's design minimizes training needs and eliminates the costs associated with tube welders, which can exceed $15,000. The MicroCNX connectors offer a simpler, more efficient alternative to enhance operational efficiency in cleanroom environments.

Dover, through its brand Forward Lift, has launched new frame-engaging adapter kits for its mobile column lifts, enhancing service capabilities for a wider range of forklifts. This innovation is expected to improve safety and inspection processes, providing better access for technicians. The adapter kits complement Forward's existing mobile column lifts, FCHW13 and FCHW18, and require no dedicated floor space for operation, making them versatile for various service needs. Forward Lift has over 50 years of experience in manufacturing quality lifts.