KEMET’s Guarantee of Conflict Free Capacitors Aligned with SEC Ruling on Provision 1502 of Dodd-Frank
GREENVILLE, S.C., Aug. 22, 2012 /PRNewswire/ — KEMET Corporation (NYSE: KEM), a leading manufacturer of tantalum, ceramic, aluminum, film, paper and electrolytic capacitors, today welcomed the SEC’s ruling on the Conflict Minerals Provision 1502 of the Dodd-Frank Wall Street Financial Reform Act. While all of the details are yet to be understood, the promulgation of this law is a big step in creating supply chain transparency through reporting requirements for those publically traded companies that use conflict minerals in the manufacture of their products.
“KEMET’s tantalum capacitors are conflict free. As the world’s largest user of tantalum, KEMET took an early leadership position in the industry on the issue of obtaining certified conflict free minerals,” stated Dr. Daniel F. Persico, KEMET’s Vice President of Special Projects. “Strong conflict minerals reporting requirements means an enhanced quality of life for the people of the DRC and a more stable supply of conflict free capacitors for our customers,” continued Persico.
The KEMET “Making Africa Work” program is the industry’s most comprehensive social sustainability and economic program focused on meeting the short and long-term needs of all stakeholders in the KEMET tantalum supply chain. This program includes a completed closed-pipe conflict free vertically integrated tantalum supply chain. In addition, $1.5 million has been committed for social sustainability projects including a school, medical clinic, solar street lighting, and fresh water wells for the village of Kisengo in the DRC. Many of these initiatives are well on their way to completion.
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.
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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.
Contact: Dean W. Dimke Senior Director, Marketing Communications and Investor Relations deandimke@KEMET.com 954.766.2806
SOURCE KEMET Corporation