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US KEMET reveals takeover of Cornell Dubilier Foil in Tennessee.

MANews-(C)2009-2011

US tantalum, ceramic, aluminum, film, paper and electrolytic capacitors producer KEMET (NYSE:KEM) said it had taken over Tennessee-located Cornell Dubilier Foil for USD15m (EUR10.4m).

Cornell Dubilier Foil produces foils used as components for the making of electrolytic capacitors. It has been a unit of Cornell-Dubilier Marketing, part of the Cornell group of companies, KEMET said.

The deal is part of KEMET's strategy to improve the control of its supply sources and its cost structure, CEO Per Loof said in a statement. Cornell Dubilier Foil will also offer considerable synergy effects with KEMET's capacitor operations, vice president Chuck Meeks said. The produced aluminum foil will support the Aluminum Electrolytic Capacitor business of the buyer.

KEMET was consulted by Winchester Capital in the deal.Country: , USASector: Metals/MiningTarget: Cornell Dubilier Foil LLCBuyer: KEMET CorporationVendor: Cornell-Dubilier Marketing IncDeal size in USD: 15mType: Corporate acquisitionStatus: ClosedBuyer advisor: Winchester Capital

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Publication:M & A Navigator
Date:Jun 15, 2011
Words:150
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