KEMET – KEM – Receives Clearance from European Commission on Acquisition of 34% Interest in NEC Tokin

KEMET Corporation (NYSE: KEM), a leading manufacturer of tantalum, ceramic, aluminum, film, paper and electrolytic capacitors, announced that it received regulatory clearance from the European Commission under the European Union (EU) Merger Regulation for its proposed acquisition of a 34% interest in NEC Tokin by KEMET Electronics Corporation, its wholly owned subsidiary.

As previously announced on March 12, 2012, KEMET entered into a definitive agreement to acquire this interest for $50 million. The transaction remains subject to satisfaction of customary closing conditions, including receipt of required regulatory approval in China. While a definitive closing date cannot yet be determined, KEMET continues to expect that the transaction will close during its second fiscal quarter, ending September 30, 2012.

About KEMET – KEM

KEMET’s common stock is listed on the NYSE under the symbol “KEM.” KEMET applies world class service and quality to deliver industry leading, high performance capacitance solutions to its customers around the world and offers the world’s most complete line of surface mount and through-hole capacitor technologies across tantalum, ceramic, film, aluminum, electrolytic, and paper dielectrics.

KEMET Corporation (KEM) is a global manufacturer of a variety of capacitors. KEM’s product offerings include tantalum, multilayer ceramic, solid and electrolytic aluminum and film and paper capacitors. KEM manufactures a line of capacitors in a number of different sizes and configurations using a variety of raw materials.

It operates in three segments: the Tantalum Business Group (Tantalum), the Ceramic Business Group (Ceramic) and the Film and Electrolytic Business Group (Film and Electrolytic). Its product line consists of over 250,000 part configurations distinguished by various attributes, such as dielectric (or insulating) material, configuration, encapsulation, capacitance level and tolerance, performance characteristics and packaging. During the fiscal year ended March 31, 2012 (fiscal year 2012), the Company shipped 32 billion capacitors. In fiscal 2012, it acquired Cornell Dubilier Foil, LLC and Niotan Incorporated.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.