KEMET Corporation (KEM) Deutche Bank db AccessTechnology Conference Call September 12, 2012 2:00 pm ET Executives Per-Olof Loof – Chief Executive Officer William M. Lowe, Jr. – Executive Vice President and Chief Financial Officer Analysts Sherri A. Scribner – Deutsche Bank Securities Inc. PresentationSherri A. Scribner – Deutsche Bank Securities Inc.
Hi, welcome everybody to day two of Deutsche Bank’s Technology Conference. I’m Sherri Scribner, the technology supply chain analyst at Deutsche Bank. And I’m very pleased to have with me on the stage here KEMET’s CEO, Per-Olof Loof and the CFO William Lowe. KEMET is going to go though a couple of quick slides, and then we’re going to do Q&A, I’ll start off with a couple of questions, and then I’ll open it up to the audience. So, Per? Per-Olof Loof Okay, thank you. Thank you all, thank you for coming. Just a few, we've been given a pretty strict format here as to what we should be doing, so we have few slides and a few points that we are covering in, the rest we’re going to go through during the Q&A. So, basically let me just cover some of the things that we've been working on and talking about over the last couple of years. And the one is of course the big reception after we've been doing primarily in Europe, over the last couple of years. And the major point here is that, within the next year this will be completed, and a lot of it is underway as we speak and if I go through it, just a little bit and some more color, we have a facility in Finland, and that facility will move into the paper business only, the rest will move elsewhere over the next year or so. And the facilities in the UK are in the process of being closed and that activity is even moving to Skopje and Macedonia or in Évora in Portugal. And also our facilities in Germany will also move into Skopje. The Skopje facility in Macedonia is actually a pretty good story, for us. We thought we should be able to get started there in about May next year timeframe.