KEMET Announces Installation of Electric Vehicle Charging Station
GREENVILLE, S.C., Aug. 17, 2011 /PRNewswire/ -- KEMET Corporation (NYSE: KEM), a leading manufacturer of tantalum, ceramic, aluminum, film, paper and electrolytic capacitors, today announced the installation of an electric and hybrid plug-in vehicle charging station at its Simpsonville, South Carolina headquarters. Use of the General Electric DuraStation EVSRN3 single pedestal charger is free to the public, and offers Level II charging service for vehicles requiring 208-240VAC at 40A. As a member of the "Greening of Greenville" partnership, KEMET is proud to support renewable energy initiatives to help reduce the city's carbon footprint.
KEMET manufactures capacitors for interference suppression in charging stations, as well as control circuitry in vehicles and charging circuits. With the installation of new production lines in its Simpsonville facility, this $32 million project, which includes $15.1 million in U.S. Department of Energy grants, will produce DC bus capacitors for electric vehicle applications while creating new jobs at the facility.
“This charging station positions KEMET as a leader in the Green segment from both a local and global perspective,” said Per Loof, KEMET Chief Executive Officer. “Here in Greenville, we are doing our part in being a good corporate citizen by helping to promote clean transportation and stimulating the local economy. As the first manufacturer to offer a complete line of capacitors for electric vehicle and electric charging applications, KEMET is leading this rapidly growing market. In fact, we are so successful with our transportation developments that the first production line in our new facility is already sold out,” continued Loof.
KEMET's common stock is listed on the NYSE under the symbol "KEM." At the Investor Relations section of our web site at http://www.KEMET.com/IR, users may subscribe to KEMET news releases and find additional information about our Company. 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. Additional information about KEMET can be found at http://www.kemet.com.
Cautionary Statement on Forward-Looking Statements
Certain statements included herein contain forward-looking statements within the meaning of federal securities laws about KEMET Corporation's (the "Company") financial condition and results of operations that are based on management's current expectations, estimates and projections about the markets in which the Company operates, as well as management's beliefs and assumptions. Words such as "expects," "anticipates," "believes," "estimates," variations of such words and other similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in, or implied by, such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's judgment only as of the date hereof. The Company undertakes no obligation to update publicly any of these forward-looking statements to reflect new information, future events or otherwise.
Factors that may cause actual outcome and results to differ materially from those expressed in, or implied by, these forward-looking statements include, but are not necessarily limited to, generally adverse economic and industry conditions, including a decline in demand for the Company's products. Other risks and uncertainties may be described from time to time in the Company's reports and filings with the Securities and Exchange Commission.
Dean W. Dimke
Director of Corporate and Investor Communications
SOURCE KEMET Corporation
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