GREENVILLE, SC -- Kemet Corp. today said it is in "advanced" negotiations to acquire the tantalum capacitor business of Epcos AG. The deal is expected to close early next year, and no financial terms were disclosed.

Separately, however, Epcos said the proceeds of the sale would improve its net cash flow by at least 70 million euros.

In a press release, Kemet said the acquisition would increase its access to key markets including automotive and telecom and broaden its manufacturing base.

The deal hinges on the completion of a definitive agreement, among other customary business.

Epcos is based in Munich. The tantalum capacitor business was reportedly profitable business until 2001, but since has been hurt by overcapacity and falling prices.

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