Dover Opens Digital Labs in Greater Boston Area

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Oct 16, 2018, 16:15 ET

DOWNERS GROVE, Ill., Oct. 16, 2018 /PRNewswire/ -- Dover (NYSE: DOV) today announced the recent opening of its new Digital Labs in the greater Boston area which will serve as the hub for the Company's digital strategy and platform, and also serve as an R&D Center for its Marking & Coding business. The 14,000 square-foot facility will focus on a wide array of customer solutions and employ approximately 40 engineers and staff.

"We're excited that this new facility will support the digital transformation of our business, create new innovative digital solutions, and expand the R&D capabilities of our Markem-Imaje business," said Girish Juneja, Chief Digital Officer of Dover. "With Dover's considerable diversification, we believe that the work done here will help us make substantial progress on our many digitization opportunities, help generate and incubate new ideas, and provide machine learning, artificial intelligence, IoT and digital commerce capabilities that can be leveraged across Dover and used to upgrade the services we offer our customers through connected products."

Alongside Dover's digital and cloud service team, the Company's Markem-Imaje business will use the center to develop the next generation of laser marking and inkjet technology used to print information, such as barcodes and other key data, onto fast-moving consumer products and packaging, as well as industrial products. With its U.S. headquarters in nearby Keene, New Hampshire, Markem-Imaje is a global leader in product identification and traceability solutions.

The Dover Digital Labs is designed to facilitate creativity and cross-functional teamwork through five fully equipped labs and workshop rooms, an open office plan, and many state-of-the-art breakout areas for collaborative project working.

"We remain committed to producing the safest, most efficient, and reliable product marking and traceability solutions in the market," noted Vincent Vanderpoel, President of Markem-Imaje. "The formation of this new Center gives us another significant tool that enables us to continue to deliver cutting-edge innovations and solutions to our global customers. In addition, the excellent location allows us to benefit from the wealth of talent and favorable technology eco-system present in the area, facilitating collaboration with our partners, and further accelerating our new product introduction activities."

Earlier this year, Dover opened the MindSparq Ideation and Collaboration Center at Georgia Tech's Technology Square in Atlanta, Georgia. The MindSparq facility provides a dedicated space for Dover to collaborate with customers and develop solutions to serve their needs, with particular focus on creating relevant, real-world solutions to help increase efficiencies, lower costs, and streamline operations to ultimately drive change in our industries.

About Dover:
Dover is a diversified global manufacturer with annual revenues of approximately $7 billion. We deliver innovative equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services through three operating segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 60 years, our team of 26,000 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 www.dovercorporation.com.

About Markem-Imaje:
Markem-Imaje, a wholly owned subsidiary of the US-based Dover Corporation is a trusted world manufacturer of product identification and traceability solutions, offering a full line of reliable and innovative inkjet, thermal transfer, laser, and print and apply label systems.

Markem-Imaje provides global reach to over 50,000 customers with 30 subsidiaries, 6 technology centers, several equipment repair centers and manufacturing plants with the most comprehensive marking and coding portfolio available in the marketplace. Visit www.markem-imaje.com for further information.

Forward-Looking Statements:
This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this document other than statements of historical fact are statements that are, or could be deemed, "forward-looking" statements. Some of these statements may be indicated by words such as "may", "anticipate", "expect", believe", "intend", "guidance", "estimates", "suggest", "will", "plan", "should", "would", "could", "forecast" and other words and terms that use the future tense or have a similar meaning. Forward-looking statements are based on current expectations and are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond the Company's control. Factors that could cause actual results to differ materially from current expectations include, among other things, general economic conditions and conditions in the particular markets in which we operate, changes in customer demand and capital spending, competitive factors and pricing pressures, our ability to develop and launch new products in a cost-effective manner, our ability to identify and complete acquisitions and integrate and realize synergies from newly acquired businesses, the impact of interest rate and currency exchange rate fluctuations, capital allocation plans and changes in those plans, including with respect to dividends, share repurchases, investments in research and development, capital expenditures and acquisitions, changes in law, including the effect of U.S. tax reform and developments with respect to trade policy and tariffs, our ability to derive expected benefits from restructuring, productivity initiatives and other cost reduction actions, changes in sourcing input costs or the supply of input materials, the impact of legal compliance risks and litigation, including with respect to product quality and safety, cybersecurity and privacy, our ability to capture and protect intellectual property rights, and various other factors that are described in the Company's periodic reports filed with or furnished to the Securities and Exchange Commission, including our Annual Report on Form 10-K/A for the year ended December 31, 2017. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

SOURCE Dover