Pole/Zero Awarded $24 Million Contract by the U.S. Navy

Rhea-AI Summary

Dover's subsidiary, Pole/Zero, has secured a $24.2 million delivery order from the U.S. Navy, part of a larger $66 million IDIQ contract awarded in 2018. The order includes antenna interface units and support for the P-8A Poseidon aircraft used by the Navy and allied forces in New Zealand and the Republic of Korea. Manufacturing will occur at Pole/Zero's facility in West Chester, Ohio, with deliveries expected by March 2023. This contract reinforces Dover's position in defense contracts and enhances its revenue base.

Positive

• Awarded a $24.2 million contract from the U.S. Navy.
• Contract supports a total of $66 million IDIQ, enhancing long-term revenue.
• Manufacturing to take place in West Chester, Ohio, supporting local economy.

Negative

• None.

DOWNERS GROVE, Ill., Oct. 13, 2020 /PRNewswire/ -- Pole/Zero, part of Microwave Products Group and Dover (NYSE: DOV), has been awarded a $24.2 million delivery order from the U.S. Navy as part of what initially was a $66 million indefinite delivery, indefinite quantity (IDIQ) contract that was originally awarded back in 2018. The new delivery order includes antenna interface units and mounting trays, technical data, and post-delivery support for the P-8A Poseidon Lot 11 full-rate production aircraft in support of the U.S. Navy and its allies located in New Zealand and the Republic of Korea. Additionally, spare units ordered will be distributed throughout the P-8A end customer locations. Manufacturing will be performed at Pole/Zero's world-class facility located in West Chester, Ohio, and deliveries will be completed by March 2023.

About Pole/Zero:

Pole/Zero analyzes, designs, builds and supports interference mitigation and spectral purification solutions for industrial and defense manufacturers and integrators of RF/microwave electronics. With its full line of digitally tunable bandpass filters, notch filters, and Integrated Cosite Equipment (ICE), Pole/Zero can effectively solve most interference issues. Through constant product, technology, and process development, Pole/Zero continues to expand its role as the leading supplier of unique, cost-effective solutions to solve difficult RF problems. More information is available at www.dovermpg.com/polezero.

About Microwave Products Group (MPG):

MPG is a leading global provider of mission-critical engineered electronic components and subsystems and is comprised of the businesses Dow-Key Microwave, K&L Microwave, Pole/Zero Corporation, and BSC Filters. Our expertise is the design and manufacture of communications-based specialty products – engineered components and subsystems – for demanding military, space, commercial aerospace/industrial, and telecom infrastructure applications where function and reliability are crucial. More information is available at dovermpg.com.

About Dover:

Dover is a diversified global manufacturer and solutions provider with annual revenue of approximately $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, operational agility, world-class engineering capability and customer intimacy to lead the markets we serve. Recognized for our entrepreneurial approach for over 60 years, our team of over 23,000 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.   

Microwave Products Group Contact:
Zelma Diaz
(443) 856-8004
zdiaz@dovermpg.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