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8-K - ROGERS CORPORATION 8-K - ROGERS CORP | a51859535.htm |
Exhibit 99.1
Rogers Purchases Dielectric and Lamination Manufacturing Assets in Chandler, Ariz.
- Strategic asset purchase to support Advanced Connectivity Solutions (ACS) capacity expansion
- Advantageously located near existing ACS operations in Chandler, Arizona
- Expected to begin commercial production in 2019
CHANDLER, Ariz.--(BUSINESS WIRE)--August 29, 2018--Rogers Corporation (NYSE:ROG), a global leader in engineered material solutions, announced the purchase of certain dielectric and lamination manufacturing assets located in Chandler, Arizona from ISOLA USA Corp. Rogers intends to use the purchased assets, which include real estate, buildings and specified equipment, for capacity expansion for its Advanced Connectivity Solutions (ACS) business. The purchase did not include products, technology or other assets related to the seller’s continuing business operations.
“This asset purchase is part of our strategic expansion in ACS to meet the expected demand growth in our Advanced Connectivity and Advanced Mobility markets,” said Bruce Hoechner, Rogers’ President and Chief Executive Officer. “We considered various global locations for our ACS expansion, but the proximity of these assets to ACS’ headquarters and existing ACS manufacturing operations, plus the continuing support of the city and state, drove our decision to select Chandler. We plan to start upgrading the facilities and equipment immediately, and to have the site ready for commercial production in 2019 to meet the expected additional demand from our 5G and Advanced Driver Assistance Systems (ADAS) customers.”
The transaction closed August 28, 2018. Terms were not disclosed.
About Rogers Corporation
Rogers Corporation (NYSE:ROG)
is a global leader in engineered materials to power, protect, and
connect our world. With more than 180 years of materials science
experience, Rogers delivers high-performance solutions that enable clean
energy, internet connectivity, and safety and protection applications,
as well as other technologies where reliability is critical. Rogers
delivers Power Electronics Solutions for energy-efficient motor drives,
e-Mobility and renewable energy; Elastomeric Material Solutions for
sealing, vibration management and impact protection in mobile devices,
transportation interiors, industrial equipment and performance apparel;
and Advanced Connectivity Solutions for wireless infrastructure,
automotive safety and radar systems. Headquartered in Arizona (USA),
Rogers operates manufacturing facilities in the United States, China,
Germany, Belgium, Hungary, and South Korea, with joint ventures and
sales offices worldwide.
Safe Harbor Statement
This release contains
forward-looking statements, which may concern our plans, objectives,
outlook, goals, strategies, future events, future net sales or
performance, capital expenditures, financing needs, future
restructuring, plans or intentions relating to expansions, business
trends and other information that is not historical information. All
forward-looking statements are based upon information available to us on
the date of this release and are subject to risks, uncertainties and
other factors, many of which are outside of our control, which could
cause actual results to differ materially from the results discussed in
the forward-looking statements. Risks that could cause such results to
differ include: failure to capitalize on, and volatility within, the
Company's growth drivers, including advanced mobility and advanced
connectivity; business, economic and political conditions in the United
States and abroad, particularly in China, South Korea, Germany, Hungary
and Belgium, where we maintain significant manufacturing, sales or
administrative operations; fluctuations in foreign currency exchange
rates; research and development efforts; competitive developments;
business development transactions and related integration
considerations; the outcome of ongoing and future litigation, including
our asbestos-related product liability litigation; inability to obtain
raw materials from single or limited source suppliers in a timely and
cost effective manner; and changes in laws and regulations applicable to
our business. For additional information about the risks, uncertainties
and other factors that may affect our business, please see our most
recent annual report on Form 10-K and any subsequent quarterly reports
on forms 10-Q filed with the Securities and Exchange Commission. Rogers
Corporation assumes no responsibility to update any forward-looking
statements contained herein except as required by law.
Additional Information
For additional information,
please contact the Company directly, via email or visit the Rogers
website.
Website: http://www.rogerscorp.com
CONTACT:
Rogers Corporation
Jack Monti, 480-917-6026
jack.monti@rogerscorporation.com