Rogers Corp Files Amendment on Exit/Disposal Costs

TL;DR

Rogers Corp amended its 8-K filing regarding exit/disposal costs, but details are scarce.

AI Summary

Rogers Corp filed an amendment (8-K/A) on July 19, 2024, to its report originally dated June 6, 2024. This amendment pertains to costs associated with exit or disposal activities. The filing does not provide specific dollar amounts or details regarding the nature of these costs.

Why It Matters

This amendment indicates ongoing or updated information regarding restructuring or divestiture activities, which could impact the company's future financial performance and operational structure.

Risk Assessment

Risk Level: medium — Amendments to 8-K filings, especially concerning exit or disposal activities, can signal significant corporate changes that may introduce financial or operational risks.

Key Players & Entities

• ROGERS CORP (company) — Registrant
• Massachusetts (jurisdiction) — State of incorporation
• June 6, 2024 (date) — Earliest event reported date
• July 19, 2024 (date) — Filing date of amendment

FAQ

Key Financial Figures

• $1.00 — h registered Common Stock, par value $1.00 per share ROG New York Stock Exchange
• $18 — es previously estimated in the range of $18 to 28 million, $16 to $18 million is ex
• $16 — ated in the range of $18 to 28 million, $16 to $18 million is expected to comprise
• $18 million — the range of $18 to 28 million, $16 to $18 million is expected to comprise employee severa

Filing Documents

• rog-20240606.htm (8-K/A) — 28KB
• 0000084748-24-000045.txt ( ) — 149KB
• rog-20240606.xsd (EX-101.SCH) — 2KB
• rog-20240606_lab.xml (EX-101.LAB) — 21KB
• rog-20240606_pre.xml (EX-101.PRE) — 12KB
• rog-20240606_htm.xml (XML) — 3KB

05 Costs Associated with Exit or Disposal Activities

Item 2.05 Costs Associated with Exit or Disposal Activities. As previously reported, on June 6, 2024, the Company announced the intended cessation of advanced circuit materials manufacturing and related activities at its facility (the "Facility") in Evergem, Belgium to help optimize the Company's production costs across its global operations. At the time of the Original Report, the Company was not able to make a good faith estimate of the employee severance costs it would incur in connection with the cessation of activity at the Facility. The Company now estimates that of the total anticipated shutdown-related expenses previously estimated in the range of $18 to 28 million, $16 to $18 million is expected to comprise employee severance costs, with the balance comprising non-cash accelerated depreciation of fixed asset costs and other shutdown-related cash costs. The Company expects that the bulk of the cash outflows will occur during fiscal year 2025. The estimates of the charges and expenditures that the Company expects to incur in connection with the cessation of activities at the Facility, and the timing thereof, are subject to several assumptions and the actual amounts incurred may differ materially from these estimates. In addition, the Company may incur other charges or cash expenditures not currently contemplated due to unanticipated events that may occur.

Forward-Looking Statements Disclosure

Forward-Looking Statements Disclosure This Current Report on Form 8-K includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements included in this Current Report on Form 8-K that are not a description of historical facts are forward-looking statements. Words or phrases such as "believe," "may," "could," "will," "estimate," "continue," "anticipate," "intend," "seek," "plan," "expect," "should," "would" or similar expressions are intended to identify forward-looking statements and are based on Rogers' current beliefs and expectations. All forward-looking statements are based upon information available to the Company on the date of this Current Report on Form 8-K and are subject to risks, uncertainties and other factors, many of which are outside of the Company's control, which could cause actual results to differ materially from those indicated by the forward-looking statements. Should any risks and uncertainties develop into actual events, these developments could have a material adverse effect on the Company. Readers are cautioned not to place undue reliance on these forward-looking statements and to review the risks as set forth in more detail in the Company's most recent Annual Report on Form 10-K and any subsequent reports filed with the Securities and Exchange Commission, including Quarterly Reports on Form 10-Q. Rogers assumes no responsibility to update any forward-looking statements contained herein except as required by law.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ROGERS CORPORATION (Registrant) Date: July 19, 2024 By: /s/ Ramakumar Mayampurath Ramakumar Mayampurath Senior Vice President, Chief Financial Officer and Treasurer Principal Financial Officer

View Full Filing

View this 8-K/A filing on SEC EDGAR