Rogers (ROG) Announces Acquisition of Polymer Films Manufacturer DeWAL Industries
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Rogers Corporation (NYSE: ROG) announces the acquisition of DeWAL Industries, a leading manufacturer of high performance polymer films and pressure sensitive tapes. DeWAL’s business is highly complementary to Rogers’ Elastomeric Material Solutions business (“EMS”), enabling expansion into a close market adjacency, and increasing penetration into aerospace, electronics, and other attractive industrial verticals.
“The acquisition of DeWAL Industries represents an exciting step forward as we continue to execute on our longer-term growth strategy, which includes strategic, accretive acquisitions,” said Bruce Hoechner, president and chief executive officer of Rogers Corporation. “DeWAL is a strong strategic fit within our EMS high performance polyurethane and silicone materials business, expanding our portfolio to include PTFE and other materials for technologically advanced applications. DeWAL also shares a similar marketing approach and performance profile with our EMS business, and we believe that there are significant opportunities to expand its business by leveraging our existing operational and innovation capabilities. We are pleased to be adding DeWAL to the Rogers' team and look forward to a seamless integration.”
The transaction closed earlier today. Terms were not disclosed. Trailing twelve month revenues for DeWAL Industries were approximately $50 million, and Rogers’ expects DeWAL’s profitability to be comparable to EMS’ current product lines. The transaction is accretive to 2017 earnings per share.
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