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DOWNERS GROVE, Ill. - Markem-Imaje, a subsidiary of Dover (NYSE:DOV), a $26 billion market cap company with a "Good" InvestingPro Financial Health score, announced Tuesday it is expanding production capacity for its wax-based Touch Dry inks at its Keene, New Hampshire facility and opening a new research and development office in Salem, New Hampshire by the end of 2025.
The company’s enhanced ink production line is located at its Keene site, which has received a Platinum sustainability rating from EcoVadis. The investment aims to meet growing global demand for coding solutions that emphasize environmental responsibility.
The new Salem R&D office will house engineering teams focused on developing printers and inks used in logistics, warehousing, and consumer-packaged goods industries.
"We’ve seen consistent global growth in demand for our Touch Dry ink technology and consumables, driven by our customers’ increasing emphasis on operational efficiency," said Dane Hileman, Product Division Director at Markem-Imaje.
The company stated it remains committed to New Hampshire and is actively hiring across its locations in the state. Markem-Imaje provides product identification and traceability solutions to over 50,000 customers globally through 30 subsidiaries and 6 technology centers.
Dover, the parent company of Markem-Imaje, is a diversified global manufacturer with annual revenue exceeding $7 billion. The company operates through five segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions, and Climate & Sustainability Technologies.
This information is based on a company press release statement.
In other recent news, Dover Corporation has made significant strides in expanding its business operations. The company announced the completion of its acquisition of SIKORA AG, which will be integrated into Dover’s MAAG operating unit within its Pumps & Process Solutions segment. Additionally, Dover has acquired ipp Pump Products GmbH, a German manufacturer of sanitary pump technologies, to further enhance its Pump Solutions Group. Financial details of the ipp acquisition were not disclosed.
In another development, Dover Fueling Solutions has expanded its partnership with Bottomline to offer the BX platform supply chain optimization solution globally. This partnership aims to enhance the efficiency of fuel retailers by optimizing routes and forecasting inventories. On the financial front, Mizuho has raised its price target for Dover to $225.00, maintaining an Outperform rating. The research firm cited a derisked 2025 guide and accelerating secular trends as reasons for its optimistic outlook. These recent developments reflect Dover’s ongoing efforts to strengthen its portfolio through strategic acquisitions and partnerships.
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