Rogers Corp. in Killingly will pay $29 million for a majority stake in a polyurethane foam manufacturer in South Korea.
Rogers said it will acquire 90 percent of SK Utis Co. Ltd. and its plant in Ansan, South Korea, when the deal closes in a few weeks, and the rest within two years.
SK Utis, owned by SK Chemicals Co., supplies high-performance polyurethane foam used in cell phones, handheld computer games and other commercial and industrial devices.
SK Utis has U.S. sales of about $12 million.
Rogers also makes, among other things, high-performance polyurethane foam used for weather and sound insulation and footwear cushions.
Its foam plants are in Woodstock; Carol Stream, Ill.; Bremen, Germany; and through a Japanese partner, in Japan and China.
