AVX Corporation

AVX Corporation is an American manufacturer of electronic components headquartered in Fountain Inn, South Carolina.[4] Capital expenditure for the year 2010 was at a five-year low of $28.888 million 34.6% lower than the year before and sixty percent less than in 2008, earnings per share grew 78.7% even though total sales fell (although revenue grew with each successive quarter since April 2009)[1] As of October 1, 2021, the company changed their name to KYOCERA AVX Components Corporation and will use the KYOCERA AVX as the business brand.AVX wanted to manufacture parts for Kyocera, which had only 2 percent of its sales in Europe and hoped to increase that before the European Community made that more difficult.AVX also sold Kyocera products worldwide and helped the company start operations in Mexico and Indonesia.[8][9] In April 2009 the company decided to close a number of its smaller worldwide factories including its flagship manufacturing plant in Paignton, England following the credit crunch in an effort to reduce costs and remain financially viable for shareholders.On December 3, 2009, AVX announced it would move corporate headquarters to Greenville, South Carolina, with about 150 jobs leaving the Myrtle Beach area.[10] In 2011, AVX announced plans to tear down the original Myrtle Beach plant built in 1949 and updated in 1985, with manufacturing operations continuing at a nearby location on the same land.[15] On February 22, 2010, U.S. District Court Judge Terry Wooten ruled that evidence in the Horry Land suit showed the plaintiffs were entitled to a trial.AVX claimed that Wooten made a legal error in its 2011 trial by allowing an unqualified expert witness to testify.[21] On July 22, 2013, a jury was selected for the second of three lawsuits regarding pollution on land owned by JDS Development of Myrtle Beach LLC, which asked for damages and lost income from condominiums that were never built.AVX counters that the economic downturn caused the failure of the Southern Pines project, and blames the Air Force for part of the pollution.