ROGERS, Conn. (AP) -- Rogers Corp., which makes circuit materials, cushioning and sealing, lighting systems and other products, said Monday it signed an agreement to acquire German electronics manufacturer Curamik Electronics GmbH for about $154.1 million.
Rogers said the deal would allow the company to grow by targeting three strategic markets: sustainable energy, the Internet and mass transit. Curamik develops products used in such devices as industrial motor drives, wind and solar energy converters and hybrid electric vehicle drive systems.
The acquisition will be financed through a combination of cash and debt. The deal is expected to close this week.
Rogers expects the acquisition to add 20 to 30 cents per share in profit this year and between $115 million and $125 million in sales.
Analysts polled by Thomson Reuters expect Rogers to earn $2.17 per share on revenue of $416.1 million this year.