Vehicle Service Group Announces Expansion of Madison, IN Facility

Rhea-AI Summary

Vehicle Service Group (VSG), a part of Dover (NYSE: DOV), has announced a $7 million expansion of its Madison, IN facility aimed at increasing manufacturing capacity with a new paint line and enhanced operational flow. This initiative reflects VSG's commitment to safety, efficiency, and better product experiences. Groundbreaking is expected soon, with completion anticipated in late 2021. This expansion is crucial for supporting VSG's growth in its five core business segments, as it prepares for future demands leading up to its 100th anniversary.

Positive

• Investment of $7 million to expand manufacturing capacity.
• Planned upgrades to improve manufacturing flow and efficiency.
• Commitment to enhanced safety and environmental standards.

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• None.

DOWNERS GROVE, Ill., Oct. 28, 2020 /PRNewswire/ – Vehicle Service Group (VSG), part of Dover (NYSE: DOV), today announced a $7 million expansion to its Madison, IN operation. The makeover will include a new paint line, improved manufacturing flow and greatly increased manufacturing capacity.

Founded in 1925, VSG began manufacturing in Madison nearly 70 years ago, building all its Rotary Lift products under one roof. Since then, many additions, builds and layout changes have occurred to support the company's growth, most notably the construction of the East Plant in the 1980s. Now, to further enable global growth in its five core business segments, the original factory will receive a total state-of-the-art makeover.

"At a time when many related industries are contracting or looking for ways to outsource their products, we are excited to be planning for increased and enhanced manufacturing in our own facility," said Lee Sneed, Vice President of Global Operations, VSG. "Simply put, to better care for our employees and keep pace with our planned growth, we must act to ensure we have the necessary processes and capacity in place to meet our future needs."

The plans for expanding VSG's West Plant further reflect the company's commitment to provide enhanced safety for its workforce, improved efficiency in its operation, a more environmentally friendly footprint for the Jefferson County community and an overall better product experience for its customers. At the same time, increased capacity will also support the long-term growth trajectory of the business.

"Designing and manufacturing a quality product is just the first step in our journey," noted Ian Wendler, Vice President and General Manager, VSG. "Delivering quality products and exceeding our customer's expectations is at the forefront of our DNA. With our 100th anniversary right around the corner, our upgraded facility and processes will allow us to better deliver and meet the growing demands of our customers in this transformative time and for many years to come."

Planning for the project is ongoing with groundbreaking to occur in the coming weeks. During construction, we do not expect any interruption to current production with completion and switchover anticipated in late 2021.

About Vehicle Service Group:
As an operating company of the Dover Corporation, Vehicle Service Group (VSG) offers the world's premier brands in vehicle lifting, wheel service, collision repair and aftermarket OEM equipment. With over 90 years of experience, we design, test, manufacture, sell and support our products with one thing in mind, our customer.

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.

Vehicle Service Group Contact:
David Fischmer
(812) 265-9543
dfischmer@vsgdover.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 purpose of VSG's $7 million expansion?

The $7 million expansion aims to increase manufacturing capacity, improve flow, and enhance operational efficiency.

When is the groundbreaking for the VSG facility expansion scheduled?

Groundbreaking for the VSG facility expansion is expected to occur in the coming weeks.

When will the VSG expansion be completed?

The completion and switchover of the VSG expansion are anticipated in late 2021.

How does VSG’s expansion impact its business growth?

The expansion supports long-term growth in VSG's core business segments and prepares for future demands.

What company does Vehicle Service Group belong to?

Vehicle Service Group is a part of Dover, which trades on the NYSE under the symbol DOV.