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AVX Announces Restructuring in Europe
April 23, 2004 |Estimated reading time: Less than a minute
Myrtle Beach, S.C. — AVX Corp. has concluded discussions with local administration and labor union representatives in France in connection with plans to exit the ferrite component market in Europe and to close a related factory in Beaune, France.
The factory employed approximately 200 people. Operations in a factory in St. Apollinaire, France that manufactures ceramic, film and power components will not be impacted. The plant closure and related severance costs and asset impairment charges are estimated at $18 million.
AVX Corp. is a leading international manufacturer and supplier of a broad line of passive electronic components and related products. For more information, visit www.avxcorp.com.