GREENVILLE, South Carolina, Oct. 18, 2012 /PRNewswire/ -- KEMET Corporation (NYSE: KEM), a leading manufacturer of tantalum, multilayer ceramic, solid aluminum, plastic film, paper and electrolytic capacitors, today announced the grand opening of its new Film facility in Skopje, Republic of Macedonia.
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KEMET broke ground on this facility in August of 2011 as part of the company's restructuring of its Film and Electrolytic business. The facility will allow for a significant reduction in cost while increasing total production capability.
"Today's opening ceremony for this state-of-the-art manufacturing facility marks a major milestone in the restructuring of our Film and Electrolytic business," stated Per Loof, Chief Executive Officer of KEMET. "This facility showcases our resolve in providing quality components to the marketplace and, at the same time, our commitment to our shareholders to operate within a cost structure that allows us to be profitable," continued Loof.
Among those attending the opening ceremony, which took place at the KEMET Electronics Macedonia site at 1:00pm CET, were luminaries Paul Wohlers, United States Ambassador to the Republic of Macedonia, Nikola Gruevski, Prime Minister of the Republic of Macedonia, Vladimir Peshevski, Deputy Prime Minister for Economic Affairs, and Zoran Stavreski, Deputy Prime Minister and Minister of Finance. Ambassador Wohlers, Prime Minister Gruevski and Deputy Prime Minister Peshevski addressed the guests and joined Mr. Loof in the ceremonial ribbon cutting.
"We could not be more excited about the capabilities this plant will deliver to our Film business. The people of Macedonia have provided tremendous support and proven to be a true partner in this endeavor," stated Chuck Meeks, KEMET's Executive Vice President, Ceramic, Film and Electrolytic Business Group.
KEMET Electronics Macedonia's new Film plant is an 11,200 square meter facility featuring 8,600 square meters of manufacturing space, 2,000 square meters of administrative space and 600 square meters of utility area. Construction on the facility was completed in August 2012 with a total investment by KEMET in the amount of €15M.
KEMET's common stock is listed on the NYSE under the symbol "KEM." At the Investor Relations section of our web site at http://ir.kemet.com/, users may subscribe to KEMET news releases and find additional information about our Company. KEMET applies world class service and quality to deliver industry leading, high performance capacitance solutions to its customers around the world and offers the world's most complete line of surface mount and through-hole capacitor technologies across tantalum, ceramic, film, aluminum, electrolytic, and paper dielectrics. Additional information about KEMET can be found at http://www.kemet.com.
Cautionary Statement on Forward-Looking Statements
Certain statements included herein contain forward-looking statements within the meaning of federal securities laws about KEMET Corporation's (the "Company") financial condition and results of operations that are based on management's current expectations, estimates and projections about the markets in which the Company operates, as well as management's beliefs and assumptions. Words such as "expects," "anticipates," "believes," "estimates," variations of such words and other similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in, or implied by, such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's judgment only as of the date hereof. The Company undertakes no obligation to update publicly any of these forward-looking statements to reflect new information, future events or otherwise.
Certain risks and uncertainties that could cause actual outcome and results to differ materially from those expressed in, or implied by, these forward-looking statements are described in the Company's reports and filings with the Securities and Exchange Commission.
Dean W. Dimke
Senior Director, Marketing Communications and Investor Relations
SOURCE KEMET Corporation