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Electronics Production |

Arcotronics acquired by Kemet

Kemet Corporation announced today that it has agreed to acquire Arcotronics Italia S.p.A., a manufacturer of plastic film and metallized plastic film capacitors and wet tantalum capacitors, from Blue Skye (Lux) S.à r.l., a company owned by the special opportunities funds managed by D.B. Zwirn & Co., L.P.

In addition to manufacturing capacitors, Arcotronics is a leading manufacturer of battery and film capacitor machinery. Arcotronics has manufacturing facilities in Italy, Germany, the United Kingdom, Bulgaria and China. In the year ended December 31, 2006, Arcotronics had total consolidated sales of approximately €150 million (about U.S.$207 million at current exchange rates). Kemet has agreed to pay €17.5 million for 100% of the outstanding share capital of Arcotronics. Kemet will assume or refinance approximately €98 million of net financial debt and assume certain other liabilities of the company. The transaction is subject to customary closing conditions and is expected to close in early October 2007. Per-Olof Lööf, Chief Executive Officer of Kemet Corporation, stated, “The addition of Arcotronics to the Kemet group of companies is a meaningful milestone in our company's history, and further positions Kemet as "The Capacitance Company." The acquisition of Arcotronics provides an excellent complement to our recent acquisition of the Evox Rifa Group of companies earlier this year, and will allow us to expand our product offerings and technology base." “We are excited about the opportunity to join forces with an industry leader such as Kemet," stated Gianpaolo Di Dio, Chief Executive Officer of Arcotronics. “We believe that the combination of Arcotronic's product offerings and technology with Kemet's customer service and global logistics capability will lead to enhanced opportunities and benefits for our customers and employees."

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March 28 2024 10:16 am V22.4.20-1
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