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FORT LAUDERDALE, Fla., July 15, 2019 (GLOBE NEWSWIRE) -- KEMET Corporation (NYSE: KEM), a leading global supplier of electronic components, announced today that its request to have Tantalum Polymer capacitors excluded from the Section 301 Chinese tariffs has been approved by the U.S. Trade Representative. Effective immediately, Tantalum Polymer capacitors (tantalum capacitors having a conductive polymer cathode, as further described in U.S. Harmonized Tariff Schedule 8532.21.0050) will no longer be subject to the special 25% tariff on Chinese imports.
As the world’s leading producer of tantalum polymer capacitors, the Company is the only vertically integrated, diversified, conflict-free tantalum supplier in the electronics industry. These electronic components uniquely address the requirements and new challenges presented by megatrend applications in automotive Advanced Driver Assistance Systems (ADAS), autonomous driving and in digitalization uses such as supercomputing, mobility services, connectivity and infotainment.
William M. Lowe Jr., KEMET Chief Executive Officer, stated, “We are very pleased that our request to have our Tantalum Polymer capacitors exempt from the tariffs has been accepted. Although we are just one part of the tech space supply chain, our ability to provide tantalum polymer capacitors without increased cost is a benefit to both our customers and ultimately the consumer.”
For more information, please visit www.kemet.com.
KEMET offers our customers the broadest selection of capacitor technologies in the industry, 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. The Company’s common stock is listed on the NYSE under the symbol “KEM.” Additional information about KEMET can be found at 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:||Gregory C. Thompson|
|Executive Vice President and Chief Financial Officer|