September 7, 2016 / 10:45 PM / 3 years ago

BRIEF-Kemet - Kemet Electronics to wind down operations of subsidiary Kemet Foil Manufacturing

Sept 7 (Reuters) - Kemet Corp

* On August 31, unit Kemet Electronics made decision to wind down operations of its wholly-owned subsidiary, Kemet Foil Manufacturing, Llc

* Operations at KFM’s Knoxville, Tennessee plant are expected to end as of October 31, 2016

* Action will result in a pre-tax charge during second fiscal quarter ending September 30, 2016 of $6.0 to $9.1 million

* Expects to achieve annual cost savings related to actions of approximately $2.5 to $3.0 million beginning in Q3 of fiscal year 2017 Source: (bit.ly/2bZ0t5A) Further company coverage:

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