Rogers Corporation Announces New Factory In Monterrey, Mexico; New Facility Will Support Growing EV/HEV And Renewable Energy Demand In North America
Portfolio Pulse from Benzinga Newsdesk
Rogers Corporation (NYSE:ROG) announced the signing of a lease for a new factory in Monterrey, Mexico, aimed at supporting the growing demand for EV/HEV and renewable energy in North America. The facility, focusing on advanced busbar manufacturing and engineering services, is expected to be completed in late 2024. This expansion is part of Rogers' strategy to support customers regionally and is anticipated to enhance technical collaboration, local prototyping, and supply capabilities, thereby reducing lead times and improving service levels.
February 22, 2024 | 1:58 pm
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Rogers Corporation's new factory in Monterrey, Mexico, is set to support the growing EV/HEV and renewable energy demand in North America, aiming for completion in late 2024.
The establishment of a new factory by Rogers Corporation in Monterrey, Mexico, directly impacts the company by expanding its manufacturing capabilities and potentially increasing its market share in the EV/HEV and renewable energy sectors. This strategic move is likely to be viewed positively by investors, as it demonstrates Rogers' commitment to growth and its ability to meet the increasing demand in these sectors. The completion of the factory in late 2024 positions Rogers for future revenue growth, making this news likely to have a positive short-term impact on ROG's stock price.
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