Kemet Corp., Greenville, S.C., is consolidating the operations of its organic capacitors and solid aluminum organic capacitors.
Under the initiative, the ongoing development of both types of capacitors will fall under the jurisdiction of Daniel Persico, who was appointed vice president of organic process technology. Production of both capacitors will be combined under the direction of Rick Rickenbach, vice president, Tantalum U.S.
The restructuring will result in a reduction of about 350 manufacturing personnel in the U.S. and Mexico, effective March 25. This will reduce expenses by about $15 million annually at a cost of $3 million in the March 2002 quarter.
Kemet will also incur a non-cash, non-recurring charge of $24 million to cover the retirement of first- generation developmental assets.