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| Greenville, South Carolina (October 16, 2006) - KEMET Corporation (NYSE:KEM) today announced a cost-reduction initiative in its Monterrey, Mexico, facilities that will reduce headcount by approximately 400 people. This will be accomplished through a combination of normal attrition, release of temporary employees, and a reduction-in-force affecting approximately 120 people. The cost associated with the reduction-in-force will be approximately $800,000, with a savings of over $4 million per year.
“These plants will remain at full production. This action is not a result of a loss of market share, but represents an element of our ongoing strategy to reduce cost and improve our competitive position in the world electronics market,” said Per Loof, Chief Executive Officer. “Actions such as these are never easy or taken lightly. However, only by reducing cost and improving efficiencies will we be able to continue to compete successfully in the global market.”
KEMET Corporation provides industry-leading, high-performance capacitance solutions, including the world’s most complete line of surface-mount capacitor technologies across tantalum, ceramic and solid aluminum dielectrics—along with the world’s best quality, delivery and service. KEMET’s common stock is listed on the New York Stock Exchange under the symbol KEM. Additional information can be found at http://www.kemet.com.
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 | Contact: | Dean W. Dimke
Director of Corporate and Marketing Communications
deandimke@kemet.com
864-228-4448 |
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