Rogers Corp to wind down advanced circuit manufacturing at Belgium factory (updated)

Rogers

06/06/2024 22:18

(Adds announcement details from paragraphs 2 to 4)
       June 6 (Reuters) - Electronics materials maker Rogers
Corp  ROG.N  said on Thursday it will wind down manufacturing of
advanced circuit materials and related activities at its
Evergem, Belgium factory by mid-2025 to drive margin growth.
    The move is expected to improve operating profit between $7
million and $9 million annually once fully implemented.
        Rogers expects to incur total charges of $18 million to
$28 million, including employee severance and shutdown expenses.
  
        "As customer demand for our high frequency circuit
materials continues to shift to other regions, we are adjusting
our manufacturing operations in response," CEO Colin Gouveia
said.
  

 (Reporting by Zaheer Kachwala in Bengaluru; Editing by Maju
Samuel)
 ((Zaheer.Kachwala@thomsonreuters.com;))