Rogers Announces Acquisition of Silicone Engineering
Chandler, Arizona, October 8, 2021: ROGERS Corporation (NYSE:ROG) announced its acquisition of Silicone Engineering Ltd., a leading European manufacturer of silicone material solutions based in Lancashire, UK. Silicone Engineering expands Rogers’ existing advanced silicones platform and provides Rogers a European Center of Excellence to service customers requiring premium silicone solutions for applications in the EV/HEV, Industrial, Medical and other markets.
“Silicone Engineering is a premiere silicone solutions provider and is an outstanding strategic fit with our Elastomeric Material Solutions business,” said Bruce Hoechner, Rogers’ President and Chief Executive Officer. “This combination creates a dynamic silicones platform in Rogers that further strengthens our ability to serve our global customers, especially for our core markets. The Silicone Engineering team, products and business model are closely aligned with Rogers, so we expect a seamless integration, and we look forward to maximizing the strategic commercial opportunities this combination affords.”
The transaction closed October 8, 2021. Terms were not disclosed. Rogers’ expects the transaction to be accretive to 2022 earnings per share. Trailing twelve month revenues for Silicone Engineering were approximately £30 million, and Silicone Engineering’s profitability is comparable to that of the Elastomeric Material Solutions business unit.
About Rogers Corporation
Rogers Corporation (NYSE:ROG) is a global leader in engineered materials to power, protect and connect our world. Rogers delivers innovative solutions to help our customers solve their toughest material challenges. Rogers’ advanced electronic and elastomeric materials are used in applications for EV/HEV, automotive safety and radar systems, mobile devices, renewable energy, wireless infrastructure, energy-efficient motor drives, industrial equipment and more. Headquartered in Chandler, Arizona, Rogers operates manufacturing facilities in the United States, Asia and Europe, with sales offices worldwide.
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