March 21, 2012
/PRNewswire/ -- KEMET Corporation (NYSE: KEM) (the "Company"), a leading manufacturer of tantalum, ceramic, aluminum, film, paper and electrolytic capacitors, announced today that its wholly-owned subsidiary, KEMET Blue Powder Corporation ("KBP") is realigning its supplier base in anticipation of a Conflict-Free Smelter ("CFS") compliance audit. KBP plans to eliminate all non-CFS compliant raw material suppliers, whose products are used in the manufacture of commercial tantalum capacitor powders, from its supply chain. This is consistent with the Company's Conflict Minerals Policy. This action is being taken to prepare KBP for its own CFS site compliance audit.
"KEMET believes that the CFS Program is an industry best practice and should be cited as such by the SEC when it releases the final version of the Conflict Minerals Provision 1502 of the Dodd Frank Wall Street Financial Reform Act," stated Dr.
Daniel F. Persico
, the Company's Vice President of Strategic Marketing & Business Development. "By taking this action, we are sending a strong message to our suppliers and the industry that we wholeheartedly support the CFS compliance program as well as provision 1502 of Dodd Frank, and any activity within our supply chain that is inconsistent with this will be eliminated," continued Persico.
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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.