Rogers Corporation acquired the U.K.-based Silicone Engineering Ltd., for an undisclosed sum, with closure of the transaction on October 8.
Arizona-headquartered Rogers expects the transaction to be accretive to earnings per share for the fiscal 2022. Trailing twelve month revenues for Silicone Engineering were approximately 30 million pounds, and Silicone Engineering's profitability is comparable to that of the Elastomeric Material Solutions business unit of the acquirer.
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, Rogers said in a statement.
"…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," said Bruce Hoechner, Rogers' president and chief executive officer.
On NYSE, Rogers Corporation closed at $183.09 per share, a rise of 0.42 percent, compared to its previous close of $182.32 per share.