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DOWNERS GROVE, Ill. - Dover Food Retail, a division of Dover (NYSE:DOV), announced Monday plans to invest over $20 million to expand its Virginia operations by relocating its Anthony brand manufacturing from Sylmar, California, to its Virginia campus. According to InvestingPro data, Dover currently trades below its Fair Value, with the stock showing remarkably low price volatility - a characteristic that often appeals to long-term investors.
The expansion is expected to create more than 300 new jobs over the next year as the company enhances production of commercial glass refrigerators, freezer doors and frames for food retail customers in North America and globally.
The investment will include new state-of-the-art equipment, expanded research and development laboratories, a Dover Food Retail parts hub, and a new distribution center, according to the company.
"We are excited to be able to continue the growth journey in our Virginia campus," said Paul Sindoni, President of Dover Food Retail, in a press release statement.
The Virginia facility will manufacture products under the Anthony brand, which is part of Dover Food Retail’s portfolio that includes Hillphoenix, Advansor, and The AMS Group.
Dover Food Retail, headquartered in Conyers, Georgia, provides equipment and solutions for the food retail industry. Its parent company, Dover Corporation, is a diversified global manufacturer with annual revenue exceeding $7 billion and approximately 24,000 employees worldwide.
In other recent news, Dover Corporation has announced several key developments. The company has increased its quarterly cash dividend to $0.52 per share, up from $0.515 per share, with payment scheduled for September 15, 2025. In product advancements, Malema, a Dover company, launched the M-3100 Series Clamp-On Ultrasonic Flow Meter for semiconductor applications, offering non-invasive fluid velocity measurement. Additionally, Metcal, another Dover subsidiary, introduced the PT4-4000 and PT4-8000 Series 4-Zone Circuit Board Preheaters featuring Resistive Radiant Heat Technology for electronics manufacturing. Dover Fueling Solutions has also completed the integration of its Bulloch POS system with Intevacon Fleet Card Solutions, facilitating private label fleet card processing. Furthermore, the Bulloch POS system has been launched in the U.S. market, combining point of sale, electronic payment systems, and forecourt controllers into a single software solution. These developments highlight Dover’s ongoing efforts to enhance its product offerings and expand its market presence.
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