Chinese makers of passive components have been keen on capacity expansions for high-end MLCC capacitors, providing lucrative business opportunities for Taiwan’s equipment makers, according to industry sources.
FORT LAUDERDALE, Fla., June 15, 2020 (GLOBE NEWSWIRE) — KEMET Corporation (“KEMET”) (NYSE: KEM) today announced the completion of the acquisition of KEMET by Yageo Corporation (“Yageo”) (TAIEX: 2327). In accordance with the terms of the merger agreement, Yageo has acquired all of the outstanding shares of KEMET’s common stock for US $27.20 per share in an all-cash transaction with an equity value of approximately US $1.6 billion. As a result of the transaction, KEMET is now a wholly-owned subsidiary of Yageo, and KEMET’s common stock is no longer listed on any public market.
Source: KEMET and Yageo Complete Merger
The following GDP forecast by world region suggests a tough road ahead for the U.S. and European economies. Asian regions will grow out of the situation at a faster rate than other regions, but the overall outlook for near-term GDP is challenging (see Figure 1).
Passive components makers have reported significant sales results for May despite the long Labor Day holiday in China cutting work hours, with Yageo’s revenues of NT$4.486 billion (US$149.53 million) for the month rising 1% sequentially and almost 40% on year, according to industry sources.
Lockheed Martin is making significant scheduling changes to hold on to employees while dealing with supplier delays impacting the F-35 program as a result of the COVID-19 pandemic.
ECIA reports CY19 global passive sales (capacitors, inductors, and resistors) declined 13.7% in dollars and down 27.7% in units. Average selling price improved 19.3%. Units sales were 5.4 trillion units totaling $27.7 billion.
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