Rogers Corporation (NYSE: ROG) today announced an agreement with CalAmp
Corp. (Nasdaq: CAMP) to settle the previously disclosed May 16, 2007
lawsuit filed by CalAmp alleging performance issues with one type of
Rogers’ printed circuit board laminate material used by CalAmp.
Both parties acknowledged that Rogers admitted no wrongdoing or
liability for any claim made by CalAmp. Rogers agreed to settle this
litigation solely to avoid the time, expense and inconvenience of
continued litigation.
Under the settlement reached through mediation mandated by the U.S.
District court for the Central District of California, Rogers will pay
CalAmp $9 million.
"Rogers is pleased to conclude this litigation” said Robert D. Wachob,
Rogers’ President and CEO. "This settlement does not impact our
customers or current products and we are looking forward to being able
to now concentrate all of our resources on our ongoing business.”
Rogers Corporation (NYSE: ROG), headquartered in Rogers, CT, is a global
technology leader in the development and manufacture of high
performance, specialty-material-based products for a variety of
applications in diverse markets including: portable communications,
communications infrastructure, computer and office equipment, consumer
products, ground transportation, aerospace and defense. Rogers operates
manufacturing facilities in the United States (Arizona, Connecticut and
Illinois), Europe (Ghent, Belgium) and Asia (Suzhou, China). In Asia,
the Company maintains sales offices in Japan, China, Taiwan, Korea and
Singapore. Rogers has joint ventures in Japan and China with INOAC
Corporation, in Taiwan with Chang Chun Plastics and in the U.S. with
Mitsui Chemicals.
The world runs better with Rogers. ®
www.rogerscorp.com
Safe Harbor Statement
Statements in this news release that are not strictly historical may be
deemed to be "forward-looking” statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements are based on management’s current expectations and are
subject to the many uncertainties that exist in the Company’s operations
and environment. These uncertainties, which include economic conditions,
market demand and pricing, competitive and cost factors, rapid
technological change, new product introductions, legal proceedings, and
the like, are incorporated by reference in the Rogers Corporation 2007
Form 10-K filed with the Securities and Exchange Commission. Such
factors could cause actual results to differ materially from those in
the forward-looking statements. All information in this press release is
as of January 9, 2009 and Rogers undertakes no duty to update this
information unless required by law.