2013-02-06 23:01:21 -
Greenville, S.C - February 6, 2013 - AVX Corporation (NYSE: AVX) reported that
it has completed its previously announced acquisition of the Tantalum Component
Division of Nichicon Corporation for approximately $86 million, subject to
typical post-closing working capital adjustments.
The all-cash purchase comprises Nichicon's tantalum component manufacturing
subsidiaries located in Shiga, Japan and Tianjin, China. The annual component
sales of the Division approximate $75 million.
John Gilbertson, AVX's Chief Executive Officer and President, said, "The
purchase of the tantalum component operations of Nichicon enhances our
leadership position in the passive electronic component industry and provides
further opportunities for expansion in the Asian region and tantalum component
manufacturing efficiencies."
AVX, headquartered in Greenville, South Carolina, is a leading manufacturer and
supplier of a broad line of passive electronic components and related products.
Please visit
our website at www.avx.com.
This Press Release contains "forward-looking" information within the meaning of
the Private Securities Litigation Reform Act of 1995. All statements other than
statements of historical fact, including statements regarding industry prospects
and future results of operations or financial position, made in this Press
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other information, statements concerning our outlook for fiscal year 2013,
overall volume and pricing trends, cost reduction and acquisition strategies and
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10-K for fiscal year ended March 31, 2012, that could cause actual results to
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and with the understanding of, the various other disclosures concerning the
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contained in this Press Release to reflect new events or circumstances unless
and to the extent required by applicable law. All forward-looking statements
contained in this Press Release constitute "forward-looking statements" within
the meaning of Section 21E of the United States Securities Exchange Act of 1934
and, to the extent it may be applicable by way of incorporation of statements
contained in this Press Release by reference or otherwise, Section 27A of the
United States Securities Act of 1933, each of which establishes a safe-harbor
from private actions for forward-looking statements as defined in those
statutes.
Contact:
AVX Corporation, Greenville
Kurt Cummings
864-967-9303
finance@avx.com
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Source: AVX Corporation via Thomson Reuters ONE
[HUG#1676084]
