UPDATE 1-Rogers to acquire Curamik Electronics for $154 mln

Mon Jan 3, 2011 9:20am EST

Related Topics

* Expects deal to add 20-30 cents to 2011 earnings

* Sees Curamik to increase presence in N. America, Asia

* To finance deal through borrowings and cash

Jan 3 (Reuters) - Rogers Corp (ROG.N), a maker of specialty materials for the portable communications industry, said it will acquire electronic substrate products maker Curamik Electronics GmBH for 116 million euros ($154.2 million) to expand presence in the sustainable energy market.

Rogers expects the deal to add 20-30 cents to its 2011 earnings and $115-$125 million to its revenue for the year.

The company said it will finance the deal, expected to close this week, through a combination of borrowings under existing bank credit facilities and cash.

Eschenbach, Germany-based Curamik makes ceramic substrate products used in the design on intelligent power management devices for wind and solar energy converters and hybrid electric vehicle systems.

The company, founded in 1983, gets 90 percent of its revenue from North America and Asia.

Shares of Connecticut-based Rogers, which have gained 11 percent in value since reporting third-quarter results lagging Wall Street on Nov. 1, closed at $38.25 on Dec. 31 on the New York Stock Exchange. ($1=.7525 Euro) (Reporting by Soham Chatterjee in Bangalore; Editing by Joyjeet Das)

FILED UNDER:
A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article