SWEP, a subsidiary of Dover Corporation (NYSE: DOV), announced plans to invest $30 million to expand its global manufacturing capacity through 2026-2027. The investment will more than double the company's capacity for larger sized brazed plate heat exchangers.

The expansion will include new furnaces, test equipment, press lines and automation across SWEP's five factories worldwide, along with expanded production space at its North American facility in Tulsa, Oklahoma. The company cited growing demand from AI data centers and industrial heating and cooling applications as drivers for the investment.

SWEP manufactures brazed plate heat exchangers used in data center cooling systems and heat pumps. The company has previously invested in capacity expansion over recent years to meet customer demand across all regions and markets.

"We're seeing significant global demand for best-in-class heat transfer technology driven by hypergrowth in critical infrastructure markets," said SWEP President Ulrika Nordqvist in the announcement.

The company identified two key market drivers for the expansion: AI data centers requiring cooling solutions for high-density computing workloads, and industrial electrification replacing conventional heating and cooling systems with heat pump and chiller technology.

SWEP operates as part of Dover Corporation's Climate & Sustainability Technologies segment. The company has more than 1,100 employees and maintains production facilities in five locations with presence in 50 countries. Dover Corporation reported annual revenue exceeding $8 billion and employs approximately 24,000 people globally.