KEMET Announces Its Tantalum Capacitors No Longer Subject to Chinese Tariffs
July 15 2019 - 4:15PM
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.
About KEMET
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 |
|
GregThompson@KEMET.com |
|
(954) 595-5081 |
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