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BRIEF-Kemet expects to achieve annual operating cost savings of about $3.5 to $4.0 mln
October 11, 2016 / 9:06 PM / in 9 months

BRIEF-Kemet expects to achieve annual operating cost savings of about $3.5 to $4.0 mln

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Oct 11 (Reuters) - Kemet Corp

* Announces additional gross margin improvement action

* Says solid capacitors group will modify its vertical integration strategy by relocating its k-salt facility equipment to its existing Matamoros Mexico plant

* Says expects to achieve annual operating cost savings of about $3.5 to $4.0 million

* Says expects to improve annual working capital by about $8.0 million with improvements beginning in Q4 of fiscal year 2017

* Kemet corp sees non-cash impairment charges of about $2.1 million, cash severance charges of about $0.2 million, and cash charges for equipment relocation costs of about $1.2 million

* Kemet corp - will incur charges in fiscal Q2 ending September 30, 2016, except equipment relocation costs that are expected to be incurred in Q3 of fiscal year 2017 Source text for Eikon: Further company coverage:

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