Brief: Rogers Announces Additional Actions To Streamline Operations And Increase Operating Margin

Rogers

16/02/2023 12:41

Feb 16 (Reuters) - Rogers Corp  ROG.N :
    * ROGERS ANNOUNCES ADDITIONAL ACTIONS TO STREAMLINE
OPERATIONS AND
INCREASE OPERATING MARGIN
    * ROGERS CORP- DIVESTING A NON-CORE, LOW-MARGIN, RUBBER
PRODUCT
LINE IN ELASTOMERIC MATERIAL SOLUTIONS BUSINESS UNIT BY END OF
Q1 OF 2023
    * ROGERS CORP- EXITING PRICE ROAD FACILITY IN ARIZONA
    * ROGERS CORP- EXITING PRICE ROAD FACILITY RESULTED IN A
PRIMARILY
NON-CASH CHARGE OF APPROXIMATELY $40 MILLION IN Q4 OF 2022
    * ROGERS CORP -  PRIMARILY NON-CASH CHARGE OF APPROXIMATELY
$27
MILLION WAS RECORDED IN Q4 OF 2022 RELATED TO ELASTOMERIC
MATERIAL SOLUTIONS TRANSACTION
    * ROGERS CORP- COMBINED ACTIONS WILL RESULT IN A REDUCTION
OF
APPROXIMATELY 7% OF ROGERS' GLOBAL WORKFORCE

Source text for Eikon:  ID:nBwbz2pt0a 
Further company coverage:  ROG.N 
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