Moosup, CT, 07/10/2018

  • Acquisition increases and broadens Rogers’ engineered materials leadership
  • Highly complementary, strategic fit with Rogers’ Elastomeric Material Solutions business
  • Expected to be accretive to 2019 earnings per share

Chandler, Arizona, July 9, 2018: Rogers Corporation (NYSE:ROG), a global leader in engineered material solutions, announced the acquisition of Griswold LLC, a leading manufacturer of custom-engineered cellular elastomer and high-performance polyurethane. Griswold’s products and solutions serve a variety of applications in the general industrial, electronics, automotive and consumer markets. Griswold’s custom-engineered cellular elastomer expands the product portfolio of Rogers’ Elastomeric Material Solutions (“EMS”) segment, while Griswold’s high-performance polyurethane products increase Rogers’ existing EMS capabilities.

“Griswold LLC is an outstanding strategic fit with Rogers’ Elastomeric Material Solutions business. This acquisition demonstrates continued execution on synergistic M&A, a core element of our strategy,” said Bruce Hoechner, Rogers’ President and Chief Executive Officer. “Like our recent DeWAL and Diversified Silicone Products acquisitions, the Griswold acquisition builds on our existing EMS platform of highly engineered materials and adds new products and capabilities to our EMS portfolio. We are excited Griswold is now a part of Rogers Corporation, and our focus has turned to a successful integration in the months ahead.”

The transaction closed Friday July 6, 2018. Terms were not disclosed. Rogers’ expects the transaction to be accretive to 2019 earnings per share. Trailing twelve month revenues for Griswold were nearly $30 million, and Rogers plans for Griswold’s profitability to be comparable to EMS’ current product lines in 2020 and beyond.

About Rogers Corporation
Rogers Corporation (NYSE:ROG) is a global leader in engineered materials to power, protect, and connect our world. With more than 180 years of materials science experience, Rogers delivers high-performance solutions that enable clean energy, internet connectivity, and safety and protection applications, as well as other technologies where reliability is critical. Rogers delivers Power Electronics Solutions for energy-efficient motor drives, e-Mobility and renewable energy; Elastomeric Material Solutions for sealing, vibration management and impact protection in mobile devices, transportation interiors, industrial equipment and performance apparel; and Advanced Connectivity Solutions for wireless infrastructure, automotive safety and radar systems. Headquartered in Arizona (USA), Rogers operates manufacturing facilities in the United States, China, Germany, Belgium, Hungary, and South Korea, with joint ventures and sales offices worldwide.

About Griswold LLC
Griswold LLC is a leading manufacturer of a wide range of high-performance engineered cellular elastomer and microcellular polyurethane products and solutions. For over 65 years, Griswold has built its business by collaborating with its customers to fabricate customized solutions to meet their most intricate design requirements. From vibration control to shock and impact absorption, sealing to non-skid solutions, Griswold’s seasoned engineering team’s deep expertise will create effective solutions and meet unique functional requirements. Griswold is dedicated to ensuring that its products and solutions contribute to the fastest possible speed to market, while remaining cost effective and driving end-use success.

Safe Harbor Statement
This release contains forward-looking statements, which may concern our plans, objectives, outlook, goals, strategies, future events, future net sales or performance, capital expenditures, financing needs, future restructuring, plans or intentions relating to expansions, business trends and other information that is not historical information. All forward-looking statements are based upon information available to us on the date of this release and are subject to risks, uncertainties and other factors, many of which are outside of our control, which could cause actual results to differ materially from the results discussed in the forward-looking statements. Risks that could cause such results to differ include: failure to capitalize on, and volatility within, the Company’s growth drivers, including advanced mobility and advanced connectivity; business, economic and political conditions in the United States and abroad, particularly in China, South Korea, Germany, Hungary and Belgium, where we maintain significant manufacturing, sales or administrative operations; fluctuations in foreign currency exchange rates; research and development efforts; competitive developments; business development transactions and related integration considerations; the outcome of ongoing and future litigation, including our asbestos-related product liability litigation; inability to obtain raw materials from single or limited source suppliers in a timely and cost effective manner; and changes in laws and regulations applicable to our business. For additional information about the risks, uncertainties and other factors that may affect our business, please see our most recent annual report on Form 10-K and any subsequent quarterly reports on forms 10-Q filed with the Securities and Exchange Commission. Rogers Corporation assumes no responsibility to update any forward-looking statements contained herein except as required by law.

Additional Information
For additional information, please contact the Company directly, via email or visit the Rogers website. Website: http://www.rogerscorp.com Investor contact:
Jack Monti
Phone: 480-917-6026
Email: jack.monti@rogerscorporation.com

 

 

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David Natorski Elected To Replace Retiring Executive Daniel P. Mahoney

MOOSUP, CT – April 18, 2017 – Griswold LLC (“Griswold”), a leading manufacturer of microcellular polyurethane and cellular rubber solutions, today announced that David Natorski has been elected CEO by the company’s Board of Managers effective June 1, 2017. Mr. Natorski will transition into the position following the retirement of current CEO Daniel P. Mahoney.

On behalf of Griswold’s Board of Managers, Chairman Henry Hortenstine said, “Under Dan’s leadership, Griswold has earned a reputation for delivering high quality engineered products designed for superior performance and a long product life cycle. During his tenure of over 14 years, Dan has guided the company through both the successful development of its microcellular polyurethane line of business and several exciting new products we will be announcing in the near future. More importantly, he has developed an outstanding group of employees who have dedicated themselves to operational excellence. For his service and dedication, we simply say thank you and wish him the best of luck in his well-earned retirement.

Mr. Hortenstine continued, “David has been intimately involved in every aspect of our business and has most recently led the company’s expansion into Asia. We are excited to have such an accomplished executive available to us to continue Griswold’s track record of success.”

Mr. Mahoney said, “I have enjoyed my many years at Griswold and in particular the opportunity to service our long standing customers and working with our suppliers to produce world-class products. As David takes the helm, I am confident that Griswold will continue its growth trajectory as he and the team build on our strong foundation of success.”

Mr. Natorski has been with Griswold for over 33 years and has held various sales and management positions since being hired in 1984 by Larry Sarni, past president and co-founder of the company. He has spearheaded both the company’s growth strategy and its collaborative approach to product development.

Mr. Natorski said, “It is an honor to be elected as the new CEO of Griswold. I look forward to continuing to add value to our existing customer base through the development of the highest functioning, most cost-efficient solutions that are available in the market today.”

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About Griswold LLC Griswold LLC is a leading manufacturer of a wide range of engineered cellular rubber and microcellular polyurethane products and solutions requiring the highest levels of performance. For over 65 years Griswold has built its business by collaborating with its customers to fabricate customized solutions to meet their most intricate design requirements. From vibration control to shock impact absorption our seasoned engineering team has deep expertise in creating effective approaches to meet our customers’ unique functional requirements.

Griswold is dedicated to ensuring that its products and solutions enable the fastest possible speed to market while remaining cost effective and ultimately driving end-user success. Its engineering and production teams are flexible and nimble, often working with tight timelines and specific requirements even at low quantities. Griswold, which is based in Moosup, CT, serves the needs of companies in a range of sectors including industrial, printing, automotive, electronics, footwear, and die ejection. For further information, please visit us at www.griswoldllc.com.

 

Moosup, CT, 02/26/2016 – GRISWOLD LLC is pleased to announce the addition of TPE foam extrusions that can be provided in solid and foam profiles.

TPE’s can be recycled and offer excellent tear/elongation characteristics along with the ability to thermoform in a secondary process.

Griswold installed the production line based on an existing customer requirement and the objective of further diversification into complementary products that enhance our portfolio of performance polymers. P

lease visit Griswold at the upcoming Gasket Fabricators Expo in Orlando, FL on April 6, 2016.