SWEP Presented with Trane Technologies' 2021 Continuous Improvement Award

Rhea-AI Summary

Dover (NYSE: DOV) announced that its subsidiary, SWEP, received the 2021 Continuous Improvement Award from Trane Technologies. This award recognizes SWEP's excellence in manufacturing, particularly during a challenging year for the industry. SWEP demonstrated operational excellence by maintaining product quality and timely supply, effectively managing its supply chain, and adapting production priorities to meet customer demands. Additionally, SWEP emphasizes sustainability and efficient processes, contributing to Trane's ability to provide consistent value amidst global material shortages.

Positive

• SWEP received the 2021 Continuous Improvement Award from Trane Technologies, recognizing its operational excellence.
• Despite global material shortages, SWEP maintained high product quality and timely supply to Trane Technologies.
• SWEP's adaptability in production priorities aided Trane in managing customer demands effectively.
• The company emphasizes sustainability, reducing waste through initiatives like packaging reuse.

Negative

• None.

DOWNERS GROVE, Ill., April 18, 2022 /PRNewswire/ -- SWEP, part of Dover (NYSE: DOV), recently received the 2021 Continuous Improvement Award from Trane Technologies, a world leader in air conditioning systems, services and solutions.

The Trane Technologies Continuous Improvement Award recognizes suppliers who are using operational excellence principles to drive improvements in key performance metrics. SWEP received this honor because of its ability to supply high-quality products in a timely manner, despite the struggles that last year presented to the manufacturing world.

In 2021, with a worldwide crisis on raw materials, Trane Technologies was still able to meet the demand from their customers for continuous value creation. SWEP contributed to this achievement in multiple ways such as releasing sufficient capacities and efficiently managing its supply chain to successfully serve all regions without shortages and sharing demand forecasts as quickly as possible to enable delivery success. Trane Technologies has recognized SWEP for going above and beyond and being flexible and reactive by shifting production priorities in their global plants to help Trane Technologies find quick solutions that help keep production facilities running.

"SWEP provides all the key characteristics and aspects that Trane Technologies is looking for in suppliers to help us transform the industry and boldly challenge and manage our footprint in the global environment with high attention to climate," said Aurélie Gerardin, Procurement Leader at Trane Technologies.

In addition, SWEP is also working on sustainability as a continuous value creation and has a robust quality process to deal with NCM (non-conforming materials) and achievement of high OSA scores for two of their manufacturing locations in Europe. SWEP is also supporting the drive for a greener future by reusing packaging, therefore, drastically limiting waste at the plant level.

For more information about SWEP, please visit www.swep.net.

About SWEP:

At SWEP, we believe our future rests on giving more energy than we take – from our planet and our people. That's why we pour our energy into leading the conversion to sustainable energy usage in heat transfer. Over three decades, the SWEP brand has become synonymous with challenging efficiency.

SWEP is a world-leading supplier of brazed plate heat exchangers for HVAC and industrial applications. With over 1,000 dedicated employees, carefully selected business partners, and a global presence with production, sales, and dedicated service, we bring a level of expertise and closeness to our customers that's redefining competitive edge in a more sustainable future. SWEP is part of Dover Corporation, a multi-billion-dollar, diversified manufacturer of a wide range of proprietary products and components for industrial and commercial use.

About Dover:

Dover is a diversified global manufacturer and solutions provider with annual revenue of approximately $8 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions and Climate & Sustainability Technologies. 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.   

SWEP Contact: 
Sumer Evans
(770) 923-7444, ext. 308
sumer.evans@swep.net

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

Dover Investor Contact:
Jack Dickens, Senior Director, Investor Relations
(630) 743-2566
jdickens@dovercorp.com

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SOURCE Dover

FAQ

What award did Dover's subsidiary SWEP receive?

SWEP received the 2021 Continuous Improvement Award from Trane Technologies.

Why did SWEP receive the Continuous Improvement Award?

SWEP was recognized for its operational excellence, maintaining product quality and timely delivery during a challenging year.

How did SWEP manage supply chain challenges?

SWEP managed supply chain challenges by efficiently releasing capacities and sharing demand forecasts quickly.

What is SWEP's focus on sustainability?

SWEP focuses on sustainability by reusing packaging and limiting waste at its manufacturing plants.

What is Dover's stock symbol?

Dover trades on the New York Stock Exchange under the symbol DOV.