DuPont announced on 2 November that it has entered into a definitive agreement to acquire Rogers Corporation for USD 5.2 billion. The transaction is expected to close in the second quarter of 2022, subject to customary closing conditions.
Rogers is a specialist in engineered materials and components including high-frequency circuit materials, ceramic substrates for power semiconductor devices, and foams which go into a variety of highly specialized end-markets. The Rogers Corporation’s Elastomeric Material Solutions (EMS) business unit supplies materials such as Poron polyurethane foams, Bisco performance silicones, Arlon custom silicones, DeWal PTFE and UHMW films and tapes and XRD extreme impact mitigation materials.
DuPont said that with the acquisition it is advancing its strategy as a premier multi-industrial company focused on market-leading high-growth, high-margin businesses with complementary technology and financial characteristics. As part of its ongoing transformation, DuPont also announced that it intends to divest a substantial portion of its Mobility & Materials segment. The businesses that are in-scope for intended divestiture are predominantly those in the Engineering Polymers and Performance Resins lines of business as well as DuPont’s stake in the DuPont Teijin Films joint venture. The in-scope product lines include, but are not limited to, brands such as Hytrel, Vamac, Crastin, Zytel, Delrin, and Tedlar. Combined, these businesses represent approximately USD 4.2 billion in revenue.
Ed Breen, Executive Chairman and CEO of DuPont said: “Moving forward, our portfolio will be centered on key pillars – electronics, water, protection, industrial technologies and next generation automotive.”