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Kemet, NEC TOKIN expand product offering, pursue joint developments

Kemet announced that, through its wholly owned subsidiary Kemet Electronics, it has entered into two agreements with NEC TOKIN: a Development and Cross Licensing Agreement and an Amended and Restated Private Label Agreement. In the Development and Cross Licensing Agreement, each of KEMET and NEC TOKIN licenses to the other, on a non-exclusive basis, all of its solely owned patent rights, trade secret rights and certain other intellectual property rights, all as relate to or are useful in the development or production of valve metal. The Agreement provides a framework for collaborative research and development activities, including the establishment of a Technical Steering Committee. The technical collaboration from this new arrangement should provide customers of both companies with accelerated access to next-generation products. The Agreement also provides NEC TOKIN with access to certain of the benefits of KEMET's vertically integrated tantalum supply chain. In the Amended and Restated Private Label Agreement, each of KEMET and NEC TOKIN agree to make available for sale to the other, for resale to end-use customers, all of the products that it manufactures. Each company will continue to maintain a separate sales organization and establish independent prices for their respective products.