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KEMET Corporation has been acquired by Yageo Corporation in an all-cash deal valued at approximately US $1.6 billion. Shareholders will receive US $27.20 per share. Following this acquisition, KEMET will operate as a wholly-owned subsidiary of Yageo, and its stock is no longer publicly traded. The merger is expected to enhance Yageo's position as a leading provider of passive electronic components, bolstering its manufacturing capabilities with a total of 42 plants and 14 R&D centers globally.
KEMET Corporation has received final regulatory approval from Taiwan's Investment Commission for its acquisition by Yageo Corporation. The merger is set to close around June 15, 2020. Yageo will purchase all outstanding shares of KEMET common stock for $27.20 per share, totaling approximately $1.6 billion. This acquisition aims to enhance Yageo's position in the capacitor market and expand its product offerings. KEMET’s extensive capacitor technologies and operational facilities worldwide mark significant strategic importance in this deal.
KEMET Corporation (NYSE: KEM) has enhanced its KC-LINK product line with KONNEKT technology, catering to fast-switching wide bandgap semiconductors and applications like EV/HEV and wireless charging. This innovation offers up to four times the capacitance of standard multi-layer ceramic capacitors and features high mechanical robustness, enabling low effective series inductance (ESL). With a design suitable for high-temperature operations up to 150°C, the capacitors meet growing demands in the aerospace and automotive sectors. The global DC-DC converter market is projected to grow to USD 22.4 billion by 2025.
KEMET Corporation (NYSE: KEM) has joined the OECD Multi-Stakeholder Steering Group focused on responsible mineral supply chains, responding to COVID-19 disruptions in global mineral resources. The pandemic has affected artisanal and small-scale miners, prompting KEMET to enhance its commitment to sourcing conflict minerals responsibly. The company emphasizes support for local communities, as demonstrated by the Kisengo Foundation, which aids infrastructure and healthcare in the Democratic Republic of Congo. KEMET aims to ensure its initiatives do not benefit armed groups and maintains compliance with responsible sourcing standards.
KEMET Corporation (KEM) reported its preliminary fourth quarter and fiscal year results for the period ended March 31, 2020. Net sales in Q4 reached $293.2 million, a decline from $355.8 million year-over-year. The GAAP gross margin was 31.4%, and the GAAP EPS reflected a net loss of $0.01 per diluted share. For the full year, net sales totaled $1.26 billion, down from $1.38 billion. Notably, the company anticipates its merger with Yageo to finalize this summer and has emphasized maintaining a robust financial position despite COVID-19 challenges.
KEMET Corporation (NYSE: KEM) will release its financial results for the fourth quarter and fiscal year ending March 31, 2020, on May 14, 2020. A conference call to discuss the earnings will take place at 9:00 AM (EDT), expected to last about one hour. Participants can access the call via telephone or through a live internet broadcast. A presentation related to the earnings will be available on the KEMET website shortly before the call begins. A replay of the conference call will be accessible until May 28, 2020.
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