ROGERS, CT -- Rogers Corp. announced today it has signed a definitive agreement to acquire Arlon LLC for $157 million in cash and debt, subject to closing and post-closing adjustments.

The transaction, which is subject to regulatory clearances, is expected to close in the first half 2015.

Rogers intends to finance the transaction through a combination of cash and borrowings under an existing bank credit facility.

Arlon is owned by Handy & Harman. The division reported revenue and operating income of $100.4 million and $16.7 million, respectively, for the 12 months ended Sept. 30. 

In a statement, Rogers chief executive and president Bruce Hoechner said, “This transaction is truly a unique strategic fit for both Rogers and Arlon. We are energized by the opportunity to serve our customers with our complementary capabilities and technologies in circuit materials and engineered silicones and to enhance value for our shareholders. We look forward to closing this acquisition as another significant milestone in Rogers’ growth as a premier global engineered materials solutions company.”

The pending acquisition of Arlon adds complementary solutions to Rogers' Printed Circuit Materials and High Performance Foams business segments and expands its capabilities to serve a broader range of markets and application areas. Arlon’s circuit materials product family positions Rogers for additional growth in the rapidly expanding telecommunications infrastructure sector, as well as in the automotive, aerospace and defense sectors. Arlon produces its circuit materials in Bear, DE; Rancho Cucamonga, CA; and Suzhou, China.

The engineered silicones product family of Arlon will further diversify Rogers' solutions and market opportunities in sealing and insulation applications. Arlon will bring new capabilities in precision-calendered silicones, silicone-coated fabrics and specialty extruded silicone tapes. Used primarily for electrical insulation, these materials serve a wide range of high reliability applications across many market segments, including aviation, rail, power generation, semiconductor, foodservice, medical and general industrial. This product family is primarily manufactured in Bear, DE.


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