Greenville, SC - KEMET Corporation
(NYSE: KEM), a leading manufacturer of tantalum, ceramic, aluminum,
film, paper and electrolytic capacitors, today announced plans to
construct a new manufacturing facility in Skopje, Macedonia.
“This facility is a component of KEMET’s long-term strategy of
consolidating and maintaining manufacturing for its European customer
base, while fulfilling our objective of lowering the cost structure
associated with our Film and Electrolytic business," stated Per Loof,
Chief Executive Officer. “The first products to be manufactured at this
new facility will be standard DC film capacitors which support many
industries including alternative energy, automotive and industrial,”
continued Loof.
The initial facility will be a total 10,000 square meters of
manufacturing and administrative office space and employ approximately
200 people when fully operational. The expected completion date of the
facility is summer 2012. The investment in this new KEMET facility, including transferred assets, is expected to be approximately €12 million. More about KEMET at www.kemet.com
“This facility is a component of KEMET’s long-term strategy of consolidating and maintaining manufacturing for its European customer base.”
In June 2009 Platinum Equity provided a credit facility,
allowing KEMET to complete a tender offer to retire debt. Additionally,
Platinum provided KEMET with additional liquidity to fund future
growth
Read Press Release »
