Rogers Plans To Streamline Operations; Intends To Wind Down Manufacturing Of Advanced Circuit Materials And Other Related Activities At Its Evergem, Belgium Factory By Mid-2025
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Rogers Corporation plans to streamline operations by winding down manufacturing of advanced circuit materials at its Evergem, Belgium factory by mid-2025. The company will continue to support customers through its facilities in China and the U.S. This move is expected to improve operating profit by $7 to $9 million annually, but will incur charges of $18 to $28 million.
June 06, 2024 | 9:02 pm
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Rogers Corporation plans to wind down its Belgium factory by mid-2025, aiming to improve annual operating profit by $7 to $9 million. The company will incur charges of $18 to $28 million for this restructuring.
The decision to wind down the Belgium factory is expected to improve operating profit by $7 to $9 million annually, which is positive for the company's financial health. However, the company will incur significant charges of $18 to $28 million, which may impact short-term financials. Overall, the long-term profit improvement is likely to have a positive impact on the stock price.
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