Dover Precision Components Opens New Innovation Lab
DOWNERS GROVE, Ill., Aug. 19, 2020 /PRNewswire/ -- Dover Precision Components, part of Dover (NYSE: DOV), today announced the opening of its new Innovation Lab, located in Houston, TX. The state-of-the-art setup facilitates product development and will enable further expansion of testing capabilities.
The nearly 12,000 square foot building will centralize the company's test rigs for hydrodynamic fluid film bearings and reciprocating compressor components and bring together the research and product development teams. Two compressor units, used to test valve and sealing technologies under various lubrication schemes and operating conditions, were installed and are now undergoing commissioning. Test rigs used to support fluid film bearing materials development will be commissioned in the coming months, with additional rigs to follow.
Waukesha Bearings and Cook Compression use component- and system-level test rigs to validate designs and analytical methods, evaluate performance and reliability, verify solutions under real machine conditions and develop next-generation technologies. The new Innovation Lab has four independent test bays to allow work on multiple rigs at once, and dedicated control rooms to ensure safe operation of the equipment. Four additional rooms are dedicated to inspection and component testing.
"The opening of our new Innovation Lab is an exciting milestone for Dover Precision Components," said Jane Kober, Vice President of Innovation & Marketing, Dover Precision Components. "As a forward-looking company, we are always exploring ways to be an even better partner to our customers. With this new lab, we are positioned to provide our customers with proven solutions for reliability and efficiency, today, tomorrow and long into the future."
While test rig commissioning is underway, Dover Precision Components is using the Innovation Lab to support safety measures related to the COVID-19 pandemic. The Innovation Lab offices and common areas have been made available as additional break rooms to help facilitate social distancing for manufacturing personnel at the company's Pearland Operations next door.
About Dover Precision Components:
Dover Precision Components delivers performance-critical solutions for rotating and reciprocating machinery across the oil & gas, power generation, marine, industrial, chemical and general processing markets. Comprising the Waukesha Bearings, Bearings Plus, Inpro/Seal and Cook Compression brands, our portfolio includes hydrodynamic bearings, active magnetic bearings, system and bearing protection, and reciprocating compressor valves, sealing technologies, pistons, rods and more. Each solution is custom-engineered to provide optimum efficiency, reliability and productivity, and backed by comprehensive aftermarket services. Dover Precision Components serves its global customer base through facilities in North America, Europe, Asia and the Middle East, as well as technical sales representatives around the world. Additional information is available at doverprecision.com.
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 with operational agility 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.
Dover Precision Components Contact:
+1 262 506 3084
Dover Media Contact:
Adrian Sakowicz, VP, Communications
Dover Investor Contact:
Andrey Galiuk, VP, Corporate Development and Investor Relations
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