KEMET Submits Conflict Minerals Report to U.S. Securities and Exchange Commission Surface Mount Tantalum Capacitors Identified as Conflict-Free
GREENVILLE, S.C., June 2, 2014 /PRNewswire/ -- KEMET Corporation (NYSE: KEM), a leading global supplier of electronic components, today released its 2013 Conflict Minerals Report, submitted to the U.S. Securities and Exchange Commission (SEC) in accordance with U.S. law. The Conflict Minerals Report provides details on the company's efforts to ensure that all KEMET tantalum materials are sourced conflict-free, either through the Company's vertically integrated closed pipe tantalum supply chain or though valued supply chain partners. As outlined in the report, all KEMET tantalum supply chain sources were validated by the Electronics Industry Citizenship Coalition (EICC) Conflict-Free Smelter Program (CFSP).
The Conflict Minerals Report was filed in accordance with Section 1502 of the Dodd-Frank Wall Street Reform & Consumer Protection Act. The culmination of these efforts allow KEMET to describe its surface mount MnO2 tantalum and surface mount polymer tantalum capacitors as conflict-free. KEMET is also currently pursuing conflict-free sourcing for gold, tin and tungsten.
"As one of the largest users of tantalum, KEMET saw an opportunity to develop a comprehensive, sustainable solution for sourcing conflict-free tantalum ore from the Democratic Republic of Congo," said Per Loof, KEMET Chief Executive Officer. "The goal was to build a foundation that embraced lasting prosperity and security for all the involved parties. Our Partnership for Social and Economic Sustainability initiative is doing just that, and we are pleased to be improving the standard of living in and around the mining village of Kisengo in Katanga Province while demonstrating that solutions combining social sustainability and economic interests are not mutually exclusive."
The KEMET Partnership for Social and Economic Sustainability initiative committed $1.5 million over its first two years for social sustainability projects at the mine and village. KEMET also helped establish the Kisengo Foundation, a non-profit organization aimed at improving education, healthcare, sanitation, infrastructure and recreational opportunities for the people of Kisengo. Recent accomplishments include:
- A new hospital opening in the fall of 2014, featuring basic equipment and doctor training visits.
- A new school opening in the fall of 2014, including basic materials and teachers.
- Fresh water wells and chlorination equipment.
- Solar powered street lighting.
- Bridge and road construction and repair.
For more information please visit www.kemet.com/conflictfree.
KEMET Corporation is a leading global supplier of electronic components. We offer our customers the broadest selection of capacitor technologies in the industry across all dielectrics, along with an expanding range of electromechanical devices, electromagnetic compatibility solutions and supercapacitors. Our vision is to be the preferred supplier of electronic component solutions demanding the highest standards of quality, delivery and service. KEMET's common stock is listed on the NYSE under the symbol "KEM." 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.
Certain risks and uncertainties that could cause actual outcome and results to differ materially from those expressed in, or implied by, these forward-looking statements are described in the Company's reports and filings with the Securities and Exchange Commission.
Contact: Dr. John C. Boan
Vice President, Marketing
SOURCE KEMET Corporation