Rogers Corp to Acquire Taconic Dielectric

Rogers, Connecticut -- Rogers Corporation announced today that it has entered into an agreement with Taconic, headquartered in Petersburgh, NY, to acquire its Advanced Dielectric business. Taconic's Advanced Dielectric business manufactures and markets high-frequency printed circuit material laminates. The acquisition is expected to be finalized around the end of the first quarter of 2001.

Under the terms of the agreement, Rogers will acquire the manufacturing facilities and offices located in Petersburgh, NY, and Mullingar, Ireland. The Taconic Advanced Dielectric business will be merged with Rogers Microwave Materials Division to form the new Rogers Advanced Dielectric Division. No significant changes in the product offerings or manufacturing locations of either company are planned. Operations and staff levels at the acquired facilities will remain essentially unchanged.

Walter E. Boomer, Rogers President and C.E.O., commented, "The Taconic products are a good complement to our existing Rogers product lines, and will fill out our family of PTFE (polytetrafluoroethylene) based laminates, while providing a good fit with our core competencies." Robert D. Wachob, Rogers Executive Vice-President, added, "This acquisition advances Rogers' position in the wireless communications and high speed digital markets. It will significantly increase the size of one of our fastest growing businesses, and should be earnings accretive almost immediately."

In commenting on the agreement, Taconic's President, James O'Keefe said, "The combination of Taconic's Advanced Dielectric Division with Rogers Corporation aligns that business with one of the industry leaders while allowing privately held Taconic to continue its nearly 40-year legacy as a worldwide leading manufacturer of industrial fabrics."

Rogers Corporation, headquartered in Rogers, CT, U.S.A., develops and manufactures high-performance specialty materials focusing on the growing wireless communications and computer markets. Rogers operates manufacturing facilities in Connecticut, Arizona, and Illinois in the U.S. and in Gent, Belgium. Sales offices are located in Japan, Hong Kong, Taiwan, Korea and Singapore. Rogers has joint ventures in Japan with Inoac Corporation, in Taiwan with Chang Chun Plastics, and in the U.S. with Mitsui Chemical and with 3M Corporation.