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KEM > SEC Filings for KEM > Form 8-K on 3-Apr-2014All Recent SEC Filings

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Form 8-K for KEMET CORP


Other Events

Item 8.01 Other Events.

On April 3, 2014, KEMET Corporation (the "Company") issued a press release announcing that its wholly-owned subsidiary, KEMET Electronics Italia S.r.l. ("KEMET Italia"), entered into an Agreement for the Transfer of a Branch of a Going Concern (the "Agreement"), dated March 31, 2014, to sell the assets and specified liabilities of KEMET Italia's Machinery division to Manz AG ("Manz") for a purchase price of 8.1 million.
The Machinery division was originally acquired by KEMET as part of its purchase of Arcotronics Italia S.p.A. in 2007, and manufactures machines for the production of lithium-ion batteries, film capacitors and electrolytic capacitors. As a result of the sale, all 83 division employees will be transferred to Manz. The Agreement also requires the parties to enter into a supply agreement by which Manz will supply certain capacitor manufacturing equipment to KEMET through December 31, 2017.
The transaction is expected to close no later than April 30, 2014. The purchase price is subject to standard adjustments for balance sheet changes occurring prior to closing.
A copy of the press release announcing the Agreement is filed as Exhibit 99.1 to this report.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description of Exhibit
99.1 Press Release, dated April 3, 2014, issued by the Company.

Signatures Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 3, 2014 KEMET Corporation

/s/ William M. Lowe, Jr.

William M. Lowe, Jr.
Executive Vice President and
Chief Financial Officer

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