ROGERS CORP (ROG): restructuring charge — Rogers Corp updates Belgium plant closure costs: $16-18M severance, total $18-28M

ROGERS CORP

Total shutdown costs for Evergem, Belgium facility estimated at $18-28M; $16-18M for employee severance.
Remaining costs include non-cash accelerated depreciation and other shutdown-related cash expenses.
Bulk of cash outflows expected during fiscal year 2025.
Previously unable to estimate severance; now provides this breakdown in 8-K/A amendment.
Facility cessation aimed at optimizing global production costs.

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 $16 to $18 million affecting facility in Evergem, Belgium (employee severance costs).

Type: restructuring
Charge: $16 to $18 million
Affected area: facility in Evergem, Belgium
Headcount: employee severance costs

Exact text from the filing

The Company now estimates that of the total anticipated shutdown-related expenses previously estimated in the range of $18 to 28 million, $16 to $18 million 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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Source: SEC EDGAR

accession 0000084748-24-000045

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