Kemet acquires foil facility

"This acquisition is a first step in the strategic direction we outlined recently to find opportunities to vertically integrate our operations to better control our supply sources and our cost structure," said Per Loof, CEO of Kemet. Established in 1990, the facility was previously a subsidiary of Panasonic Electronic Devices Corporation of America. Most recently, CDF was a subsidiary of Cornell-Dubilier Marketing, Inc. (CDM) and an affiliate of the Cornell group of companies. The primary focus of the operations going forward will be the formation of aluminum foil to support Kemet's Aluminum Electrolytic Capacitor operations, as well as the formed foil needs of the Cornell-Dubilier affiliated companies and the existing customer base of the foil facility. As part of the transaction, the Cornell group of companies will retain a relationship with Kemet under a long-term supply agreement. "We viewed Kemet as our most strategic buyer for this subsidiary with the capabilities to maintain the high quality of material that both of us require for our finished products. Through this transaction we have established a very good working relationship with Kemet and we look forward to continuing it under our supply agreement", said Jim Kaplan, President of CDM.