DOWNERS GROVE, Ill., May 13, 2026 /PRNewswire/ -- SWEP, part of Dover (NYSE:DOV) and a world-leading supplier of brazed plate heat exchangers (BPHEs), today announced plans to continue expanding its global manufacturing capacity to meet growing demand that serve the global data center as well as industrial and commercial heating/cooling markets.

Over the last several years, SWEP has invested significantly in capacity to serve strong customer demand in all regions and markets. SWEP will now be investing an additional $30M to expand manufacturing capacity through 2026-2027, which will more than double the capacity for larger sized products.

The investments will include new furnaces, test equipment, press lines and automation in all five factories world-wide as well as expanded production space in SWEP's North American factory in Tulsa, OK. The expansion is an important initiative to bolster SWEP's commitment to our customers for efficient heat transfer in liquid cooling, energy efficiency, and energy security driven by:

AI data centers – the increasing demand for compute power drives the need for reliable and high-performing data center cooling solutions that manage extreme heat from high-density workloads.
Industrial and commercial heating/cooling – electrification is driving replacement of conventional systems in buildings, industries and district energy with systems based on heat pumps and chillers that enables favorable payback and use of sustainable refrigerants.

"We're seeing significant global demand for best-in-class heat transfer technology driven by hypergrowth in critical infrastructure markets. SWEP has a long-standing history serving global customers in these segments with innovative solutions that deliver exceptional performance, reliability and efficiency. This investment enables us to further expand our operations and align our manufacturing throughput to the aggressive growth goals our customers have established to deliver heating and cooling systems at scale," says SWEP President Ulrika Nordqvist.

The two-year investment plan further builds on the investments of the previous multi–year capacity expansion initiative focusing on enhancing workforce capabilities, increasing automation, and embedding more sustainable manufacturing processes. SWEP is committed to bringing world-class heat transfer solutions to our customers, driving efficiencies, and supporting the path toward carbon neutrality and a sustainable future.

For more information about SWEP, please visit www.swepgroup.com.

About SWEP:

SWEP ensures efficient heat transfer where less means more. Since 1983, millions of our innovative brazed plate heat exchangers have been integrated into HVACR and industrial applications worldwide, enhancing the quality of life for billions of people. Our expertise in sustainable energy use has grown SWEP into a global company with more than 1,100 employees, five production sites and a presence in 50 countries. As part of Dover Corporation, we help redefine what is possible within the Climate & Sustainability Technologies segment. Make a difference. Visit swepgroup.com.

About Dover:

Dover is a diversified global manufacturer and solutions provider with annual revenue of over $8 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions and Climate & Sustainability Technologies. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 70 years, our team of approximately 24,000 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.

SWEP Contact:

Malin Bengtsson

+46 418 400 720

malin.bengtsson@swepgroup.com

Dover Media Contact:

Adrian Sakowicz, VP, Communications

(630) 743-5039

asakowicz@dovercorp.com

Dover Investor Contact:

Jack Dickens, VP, Investor Relations

(630) 743-2566

jdickens@dovercorp.com

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SOURCE Dover

SWEP Expands Production Capacity to Serve Growing Global AI Data Center Demand