Kemet forms Chinese manufacturing JV

Kemet Electronics Corporation (KEC) a Kemet subsidiary, and Jianghai (Nantong) Film Capacitor Co., Ltd., a subsidiary of Nantong Jianghai Capacitor Co., Ltd., are forming the joint venture, Kemet Jianghai Electronic Components Co. Ltd., a limited liability company located in Nantong, China. The joint venture company will manufacture axial electrolytic capacitors and (H)EV Film DC brick capacitors, for distribution through the Kemet and Jianghai sales channels. KEC and Jianghai Film will each provide initial capital contributions of USD 5 million through a combination of cash and manufacturing equipment, and will be equally represented on the joint venture's board of directors. Andreas Meier, Kemet’s Senior Vice President, Film & Electrolytics Business Group, stated, "Our new joint venture with Jianghai Film combines KEMET's technological expertise in film and electrolytic capacitors with Jianghai's manufacturing proficiencies, which we expect will provide best-in-class, cost-competitive film and electrolytic capacitor solutions for automotive, industrial and other customers in Asia and throughout the world." "Our joint venture with Jianghai reflects our ongoing commitment to establish our manufacturing operations in locations that best support our customers' supply chains, while continuing to meet the highest standards in product quality and fulfillment," stated Per Loof, the Company's Chief Executive Officer.