KEMET Announces Construction of New Manufacturing Facility In Macedonia

KEMET Corporation (NYSE:KEM), a leading manufacturer of tantalum, reports it will construct a new manufacturing facility.

KEMET’s CEO, Per Loof says,

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

The press release is quoted as saying,

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 euro 12 million.

For the complete press release, click here.