The Motley Fool Discussion Boards

Previous Page

Stocks K / KEMET Corporation


Subject:  Arcotronics Acquisition Completed Date:  10/12/2007  7:40 PM
Author:  JTinvest Number:  361 of 361

KEMET Announces Closing of Transaction to Acquire Arcotronics

Friday October 12, 4:01 pm ET

GREENVILLE, S.C., Oct. 12 /PRNewswire-FirstCall/ -- KEMET Corporation (NYSE: KEM - News) today announced that it has completed its acquisition of Arcotronics Italia S.p.A., from Blue Skye (Lux) S.a r.l. The acquisition includes seven manufacturing facilities in Sasso Marconi, Monghidoro, and Vergato, Italy; Landsberg, Germany; Towchester, United Kingdom; Kyustendil, Bulgaria; and Anting-Shanghai, China.

"Arcotronics is a well-known brand in our industry and brings revenue in excess of $200 million to our company. The addition of the Arcotronics Group to our KEMET family represents a significant strategic milestone for us as we advance toward our goal of becoming The Capacitance Company," said KEMET CEO Per-Olof Loof. "The combination will create a stronger global business and will give KEMET the clear market leadership position for film and paper capacitors in Europe. It also expands our current product portfolio, broadens our technologies, and allows us to better serve new and existing customers. It will also allow us to achieve a more balanced portfolio, increasing our