Simpsonville-based Kemet Corp. said today a subsidiary will sell its machinery division to Manz AG for 8.1 million euros, or about $11.1 million.
The division, which employs 83 people and is based in Italy, manufactures machines for the production of lithium-ion batteries, film capacitors and electrolytic capacitors.
Kemet’s sale of the business includes a supply agreement by which Manz will supply certain capacitor manufacturing equipment to Kemet over the next four years. The transaction is expected to close April 30.
“This transaction will enable Kemet to focus our resources fully on designing, producing and distributing electronic component products as well as more strategic initiatives, such as our expanding relationship with Nec Tokin,” Bob Willoughby, vice president of Kemet’s film and electrolytic business group, said in a statement. “We are pleased that our employees in the machinery division will be given the opportunity to work with such an outstanding engineering company as Manz, and that the Bologna region will benefit from attracting such an innovative, engineering solution provider with strong future growth prospects.”
Kemet acquired a stake in Tokyo-based Nec Tokin in 2012. The company manufactures tantalum, electro-magnetic and electro-mechanical capacitors, access devices and ceramics, similar products to those made by Kemet.
Manz AG, based in Germany, is an engineering company founded in 1987 that supplies production lines.
