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KEMET Announces New Leadership Position
Senior Vice President, Operational Excellence and Quality
Greenville, South Carolina (September 16, 2008) - KEMET Corporation (NYSE: KEM) announced today that Robert Argüelles joined KEMET on Monday, September 8, as Senior Vice President, Operational Excellence and Quality. Argüelles will lead all supply chain function activities, which include Procurement, Shipping and Logistics. In addition, he will lead the Information Services Group and the Corporate Quality function, and will coordinate Lean Manufacturing activities.
“Historically, KEMET has not had a strong integrated supply chain function from procurement through product distribution and logistics,” stated Per Loof, KEMET’s Chief Executive Officer. “While we have made great strides in reducing the cost of our raw materials through aggressive sourcing techniques and investing in our Easy To Buy From (ETBF) infrastructure, which is viewed as an industry-leading order entry and product delivery system, there is still much room for improvement. This new structure, coupled with Robert’s experience and abilities, will enable us to align and manage resources and priorities to address areas of our business that have experienced significant price increases and have adversely affected the profitability of the company,” continued Loof.
Argüelles comes from the automotive and electronics industry with a strong, diversified background in engineering, manufacturing, quality and supply chain management. His most recent assignment was with Continental Automotive Systems, where he was the Vice President and Plant Manager at the Morganton, NC site that manufactures electronic brake systems, air suspension devices and sensors, which followed his role as Continental’s North American Chassis and Safety top R&D Executive. Previous to Continental Automotive, he worked at Valeo Electronics/ITT Automotive where he was the Product Line Director for Valeo’s North American Sensors and Electronics product lines. Argüelles began his career serving in technical roles at Electronic Data Systems in the Delco Chassis Division. He received a BS Degree in Mechanical Engineering, Dynamics and Controls, from Old Dominion University in Norfolk, Virginia.
About KEMET
KEMET Corporation (KEM) 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. KEMET's common stock is listed on The New York Stock Exchange under the symbol KEM. 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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