US-based Rogers Corporation to acquire assets of MTI Global Inc. silicones business

Rogers Corporation, US-headquartered developer of high performance specialty materials-based products, recently announced that it has signed an agreement to acquire certain assets of MTI Global Inc.'s silicones business for US$7.4 mln. Sales associated with these assets were approximately US$21 mln in 2008. These assets include product lines, technology, and manufacturing equipment at MTI Global Inc.'s Bremen, Germany, and Richmond, Virginia, USA, plant sites. The parties expect the transaction to close during the second quarter of 2009. The company operates manufacturing facilities in the United States (Arizona, Connecticut and Illinois), Europe (Ghent, Belgium) and Asia (Suzhou, China). Rogers plans to integrate the business into its BISCO® silicones operating unit that is part of the High Performance Foams Division, located in Carol Stream, Illinois. Rogers currently plans to consolidate operations into the Carol Stream and Bremen sites over the next twelve months. The company has targeted its High Performance Foams Division for continued strategic investment to increase its global leadership in sealing, cushioning, isolation, and energy management solutions for customers requiring innovative materials, ease of design, and reliable end-use performance.
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