ROGERS CORP (ROG): restructuring charge — Rogers to close Belgium advanced circuit materials plant; expects $18-28M charges, $7-9M annual savings

ROGERS CORP

Cessation of advanced circuit materials manufacturing at Evergem, Belgium facility by mid-2025.
Expected total charges of $18-28M, primarily employee severance and accelerated depreciation.
Annual operating profit improvement of $7-9M once fully implemented.
Customer support to continue from existing China and US manufacturing footprint.
Subject to consultation process with works council; cash outflows mostly in FY2025.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

ROGERS CORP announced a restructuring with charges of $18 to $28 million affecting advanced circuit materials manufacturing and related activities at its facility in Evergem, Belgium.

Type: restructuring
Charge: $18 to $28 million
Affected area: advanced circuit materials manufacturing and related activities at its facility in Evergem, Belgium

Exact text from the filing

the Company expects to record expenses in the range of $18 to 28 million, a majority of which is expected to comprise employee severance costs, with the balance comprising non-cash accelerated depreciation of fixed asset costs and other shutdown-related cash costs

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ROGERS CORP filing history →

Source: SEC EDGAR

accession 0000084748-24-000043

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