Pole/Zero Awarded Over $53 Million Contract by the U.S. Department of Defense

Pole/Zero, part of Microwave Products Group, has been awarded a $53.5 million contract from the US Department of Defense.

Rhea-AI Summary

Pole/Zero, part of Microwave Products Group, has been awarded a $53.5 million contract from the US Department of Defense. The contract will enable the procurement of antenna interface units, communications trays, and other technical assemblies for the P-8A Poseidon communications suite, benefiting the US Navy and foreign military sales, including Australia. Work will be conducted in West Chester, Ohio, and is scheduled for completion by October 2028. This contract marks a significant development for Dover (NYSE: DOV) in the defense sector.

Positive

• Awarded a $53.5 million contract from the US Department of Defense.
• Contract supports procurement for P-8A Poseidon communications suite.
• Benefits US Navy and international military sales, including Australia.
• Work to be performed in West Chester, Ohio, likely boosting local economy.

Negative

• None.

Argus Session date unavailable

-0.83% session move Open Argus

Details

News Market Reaction – DOV

The recorded move for DOV in the trading session of this news was -0.83%.

Data tracked by StockTitan Argus. Session date unavailable.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

DOWNERS GROVE, Ill., Dec. 21, 2022 /PRNewswire/ -- Pole/Zero, part of Microwave Products Group and Dover (NYSE: DOV), is being awarded a $53,544,462 firm-fixed-price, indefinite-delivery/indefinite-quantity contract. This contract provides for the procurement of antenna interface units and communications trays, technical data, assemblies, subassemblies, and spares for the P-8A Poseidon communications suite in support of the Navy, Foreign Military Sales customers and the government of Australia. Work will be performed in West Chester, Ohio and is expected to be completed by October 2028.

About Pole/Zero:

Pole/Zero, as part of MPG Solutions flagship brand, analyzes, designs, builds and supports interference mitigation and spectral purification solutions for industrial and defense manufacturers and integrators of RF/microwave electronics. With its full line of advanced solutions and digitally tunable filters, Pole/Zero can effectively solve most interference issues. Through constant product, technology, and process development, Pole/Zero continues to expand its role as the leading supplier of unique, cost-effective solutions to solve difficult RF problems. More information is available at www.mpgdover.com/polezero.

About MPG-Microwave Products Group:

MPG is a leading global provider of mission-critical engineered electronic components and subsystems comprised of MPG Solutions, BSC, Dow-Key Microwave, Espy Corporation, K&L Microwave, Pole/Zero Corporation brands and business units. Our expertise is the design and manufacture of communications-based specialty products – engineered components and subsystems – for demanding defense, space, aerospace, automated test equipment, and GPS applications where function and reliability are crucial. More information is available at mpgdover.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 65 years, our team of over 25,000 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.   

Microwave Products Group Contact:
Jayra LaSalle
(513) 883-0472
jlasalle@polezero.com 

Dover Media Contact:
Adrian Sakowicz, VP, Communications
(630) 743-5039
asakowicz@dovercorp.com     

Dover Investor Contact:
Jack Dickens, Senior Director, Investor Relations
(630) 743-2566
jdickens@dovercorp.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/polezero-awarded-over-53-million-contract-by-the-us-department-of-defense-301708426.html

SOURCE Dover

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the value of the contract awarded to Pole/Zero?

Pole/Zero was awarded a contract valued at $53.5 million.

Who is the customer for the Pole/Zero contract?

The contract is awarded by the US Department of Defense.

What is the purpose of the contract for Pole/Zero?

The contract provides for the procurement of antenna interface units and communications trays for the P-8A Poseidon communications suite.

When is the completion date for the contract work?

The work is expected to be completed by October 2028.

Which company is associated with the Pole/Zero brand?

Pole/Zero is part of the Microwave Products Group and is owned by Dover (NYSE: DOV).