KEMET Announces the Consolidation of its DC Film and Paper Operations
into One Business Unit as Integration Nears Completion
Greenville, South Carolina (January 16, 2009) - KEMET Corporation (Other OTC:KEME) announces the consolidation of its DC Film and Paper operations into one Business Unit.
“As we complete the final integration of the Evox Rifa and Arcotronics DC Film and Paper operations, we are consolidating into one DC Film and Paper Business Unit,” stated Kirk Shockley, VP, KEMET’s Film and Electrolytic Business Group. “This consolidation will produce meaningful cost savings through synergies within operations and resource management. Strong progress is being made toward completion of the integration—which is good news for our customers and our bottom line,” continued Shockley.
To facilitate the consolidation the Company announces the following organizational changes which are effective immediately, following an orderly transition of duties.
Andreas Floegel, Director Special Film and Filters Business Unit, is appointed Senior Director DC Film and Paper Business Unit reporting directly to Shockley. He will be responsible for all Evox Rifa and Arcotronics DC Film and Paper operations. Reporting to Floegel will be Angelo Righi, Massimiliano Zucchi and the existing Special Film and Filters business organization.
Keith Hunter, Senior Director Electrolytic Business Unit, and Fabio Scaliarini, Director AC Power Film Business Unit, will continue to lead their respective Business Units and continue reporting directly to Shockley.
Matthew Calvage, Senior Director Global Manufacturing Excellence, is appointed Vice President, Product Marketing reporting directly to Shockley. Peter Wunderlich, Evox Rifa Film & Paper PM; Stefano Sartini, Arcotronics Standard Components PM; and Andrew Bellavia, Americas PM, will report directly to Calvage. The PM teams in Electrolytics and AC Power Film will continue to report directly to their respective Business Unit Leaders and they will have a dotted line to Calvage as he coordinates all of the PM activities for the F&E Business Group.
About KEMET
KEMET Corporation (KEME) applies world-class service and quality to deliver industry-leading, high-performance capacitance solutions to its customers around the world. KEMET 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 security laws about KEMET Corporation (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, availability, sourcing and pricing of raw materials, pressures on sales prices and volumes due to competition and economic conditions, reliance on and financial viability of significant customers, operating performance of joint ventures, alliances and other equity investments, technological advancements, employee relations, changes in construction spending, capital expenditures and long-term investments (including those related to unforeseen acquisition opportunities), continued availability of financial resources through financing arrangements and operations, outcomes of pending or threatened legal proceedings, negotiation of new or modifications of existing contracts for asset management and for property and equipment construction and acquisition, regulations governing tax laws, other governmental and authoritative bodies' policies and legislation, and proceeds received from the sale of assets held for disposal. In addition to these representative factors, forward-looking statements could be impacted by general domestic and international economic and industry conditions in the markets where the Company competes, such as changes in currency exchange rates, interest and inflation rates, recession and other economic and political factors over which the Company has no control. Other risks and uncertainties may be described from time to time in the Company's other reports and filings with the Securities and Exchange Commission.
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 | Contact: | Dean W. Dimke
Director of Corporate and
Investor Communication
954-766-2806
deandimke@kemet.com |
|
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