Rogers Corporation Updates On Streamlining Initiatives

Rogers Corporation announced an update to its planned restructuring and streamlining initiatives. Operating savings from recent efforts are expected to begin in the second quarter of 2012 and reach approximately $13 million of annualized savings by the fourth quarter of 2012, exceeding the earlier forecasted savings of $10 million. Actions recently completed by the Company to achieve these savings included improvements in efficiencies of supply chain and manufacturing operations, cost reduction activities across its businesses, and headcount reductions through a voluntary retirement program and the elimination of some positions. As a result of the reorganization, product development, marketing and sales resources are better aligned with the Company's growth businesses in Printed Circuit Materials, High Performance Foams and Power Electronics Solutions. Additional resources have been allocated to marketing and new business development activities to stimulate growth and expand revenue opportunities. The Company continues to pursue an active partnering and acquisition strategy for several of its core businesses.