KEMET Not Impacted By Closing of Global Advanced Metals’ Tantalum Mine
GREENVILLE, S.C., Feb. 9, 2012 /PRNewswire/ — KEMET Corporation (NYSE: KEM), a leading manufacturer of tantalum, ceramic, aluminum, film, paper and electrolytic capacitors, today announced that there will be no negative impact on the Company’s tantalum powder supply as a result of the recent closing of Global Advanced Metals’ Wodgina, Australia tantalum mine.
KEMET has strategically diversified its raw material sources in an effort to prevent any one supplier from causing disruption to the Company’s supply chain. Additionally, KEMET’s recent agreement to acquire Niotan, a tantalum powder manufacturer in Nevada, USA, solidifies the Company’s efforts to bring stability in this market. By achieving complete vertical integration from the sourcing of tantalum ore through the manufacture and sale of tantalum capacitors, KEMET is exhibiting its long-term commitment to this technology and its customers.
“Our recent agreement to acquire Niotan further assures our customers of our commitment and ability to be the most reliable supplier of tantalum capacitors, now and in the future,” said Dr. Daniel Persico, KEMET’s Vice President of Strategic Marketing and Business Development.
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.
Factors that may cause actual outcome and results to differ materially from those expressed in, or implied by, these forward-looking statements include, but are not necessarily limited to, generally adverse economic and industry conditions, including a decline in demand for the Company’s products. Other risks and uncertainties may be described from time to time in the Company’s reports and filings with the Securities and Exchange Commission.
Dean W. Dimke
Director of Corporate and
William M. Lowe, Jr.
Executive Vice President and
Chief Financial Officer
SOURCE KEMET Corporation