KEMET to Add an Additional 85,000 Square Feet for the Manufacture of Tantalum Surface-Mount Capacitors
KEMET to Add an Additional 85,000 Square Feet for the Manufacture of Tantalum
GREENVILLE, S.C., July 26 /PRNewswire/ -- KEMET Corporation (NYSE: KEM)
announced at its Annual Meeting of Stockholders today the addition of more
than 85,000 square feet of manufacturing floor space dedicated to the
production of solid tantalum and conductive polymer tantalum capacitors in
Matamoros, Mexico, and Mauldin, Greenwood, and Simpsonville, South Carolina.
"Customer demand for high-value, high-frequency capacitors has exploded,
especially for broadband Internet infrastructure build-out," explained KEMET
Chairman and Chief Executive Officer David E. Maguire. "These capacity
expansions will ensure that we will be able to provide high-value tantalum and
high-frequency organic tantalum capacitors to meet our customers' needs, now
and in the future."
The expansion will involve the construction of a new 70,000 square foot
manufacturing facility adjacent to KEMET's existing facilities in Matamoros.
Additions in Mauldin and Greenwood will create another 10,800 square feet of
manufacturing space, while the relocation of support functions within the
existing Simpsonville facility will add another 4,500 square feet of
manufacturing space. All four facilities will use the new capacity to
increase production rates for solid tantalum surface-mount capacitors; Mauldin
and Simpsonville will also increase production rates for KEMET's new high-
performance conductive polymer tantalum capacitor known as KO-CAP, a product
that is growing much faster than originally projected. As previously
announced, approximately 1,100 new jobs are expected to be added at these
facilities by the end of the fiscal year (March 2001) to support planned
production increases, including these expansions.
These expansions are in addition to the 250,000 square foot tantalum
manufacturing plant that began production last fall in Ciudad Victoria,
Mexico, and to the recently announced 30,000 square foot expansion at KEMET's
Fountain Inn Plant for the manufacture of ceramic surface-mount capacitors.
KEMET also announced the elections of Charles M. Culbertson II, Paul C.
Schorr IV, and Charles E. Volpe as Directors, the approval of the Amendment to
the Restated Certificate of Incorporation providing for 300,000,000 authorized
shares of Common Stock, and the ratification of the appointment of KPMG LLP as
independent public accountants to audit the Corporation's consolidated
financial statements for the fiscal year ending March 31, 2001.
KEMET Corporation, headquartered in Greenville, South Carolina, is the
largest manufacturer of solid tantalum capacitors and the fourth largest
manufacturer of multilayer ceramic capacitors in the world. KEMET's common
stock is listed on The New York Stock Exchange under the symbol KEM. Company
information is available via the Internet at http://www.kemet.com .
This release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 involving
risks and uncertainties discussed in detail in the Company's Securities and
Exchange Commission filings and reports, including the Company's 2000 Annual
Report to stockholders. Actual results may vary due to these or other risks
SOURCE KEMET Corporation
Web Site: http://www.kemet.com