KEMET Completes Niotan Acquisition
KEMET Corp. recently announced it has completed its acquisition of all of the outstanding shares of Niotan Inc., a leading manufacturer of tantalum powders, from an affiliate of Denham Capital Management LP.
As previously announced, KEMET paid an initial purchase price of $30 million at the closing of the transaction, and will make additional deferred payments of $45 million over a 30-month period after the closing. KEMET will also be required to make quarterly royalty payments for tantalum powder produced by Niotan after the closing of the transaction, in an aggregate amount equal to $10 million by December 31, 2014.
This new KEMET subsidiary, which will be named KEMET Blue Powder Corp., has its headquarters and principle operating location in Carson City, Nev. KEMET Blue Powder Corp. is reportedly the largest western hemisphere production location for tantalum capacitor powder.
For more information, visit www.kemet.com.