Kemet opens facility in Macedonia

The initial facility will be a total 10'000 square meters of manufacturing and administrative office space and employ approximately 200 people when fully operational. The expected completion date of the facility is summer 2012. The investment in this new facility, including transferred assets, is expected to be approximately EUR 12 million. The cost of the facility construction during the company's current fiscal year is included in the previously announced capital plan for the year. "This facility is a component of Kemet's long-term strategy of consolidating and maintaining manufacturing for its European customer base, while fulfilling our objective of lowering the cost structure associated with our Film and Electrolytic business. The first products to be manufactured at this new facility will be standard DC film capacitors which support many industries including alternative energy, automotive and industrial", stated Per Loof, Chief Executive Officer.