SECURITY AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Security Exchange Act of 1934
Date of Report (Date of earliest event reported): June 2, 1998
AVX Corporation
Delaware
(state or other jurisdiction of incorporation)
1-10431 33-0379007
(Commission File No.) (I.R.S. Employer Identification No.)
801 17th Avenue South
Myrtle Beach, South Carolina 29577
(Address Principle Executive Offices)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (843) 448-9411
N.A.
(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
<PAGE>
ITEM 2. Acquisition and Disposition of Assets.
On June 2, 1998, AVX Corporation completed the acquisition of the Passive
Component business ("TPC") of Thomson-CSF for approximately $75 million,
including the assumption of debt. The assets were acquired through the use
of cash. The businesses include film capacitors, ferrites, high energy and
high voltage power capacitors, ceramic capacitors, varistors and non-linear
resistors. Annual sales for last year for these businesses were approximately
$135 million. The operations to be purchased by AVX include plants in
Malaysia, Taiwan, Brazil and France.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial Statements of Business acquired.
None.
(b) Pro Forma Financial Information
None.
(c) Exhibits
99.0 Press Release, dated June 3, 1998 relating to the acquisition of
Thomson CSF's Passive Component business.
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on his behalf by the
undersigned hereunto duly authorized.
AVX Corporation
by: /s/ DONALD B. CHRISTIANSEN
---------------------------
Donald B. Christiansen
Chief Financial Officer, Senior Vice President and Treasurer
Date: June 9, 1998
Exhibit 99.0
Form 8-K
AVX Corporation
AVX COMPLETES ACQUISITION
June 3, 1998
AVX Corporation announces the completion of the acquisition of the Passive
Component business ("TPC") of Thomson-CSF for approximately $75 million,
including the assumption of debt.
TPC's businesses include film capacitors, ferrites, high energy and high voltage
power capacitors, ceramic capacitors, varistors and non-linear resistors.
Annual sales for last year for these businesses were $135 million.
Dick Rosen, Chairman of the Board and Chief Executive Officer, stated "AVX
believes that the addition of the TPC family of products will help to better
serve both AVX's and TPC's customers with a broader range of passive components.
With manufacturing operations in France, Malaysia, Taiwan and Brazil, TPC
offers tremendous growth opportunities".
AVX, headquartered in Myrtle Beach, South Carolina, is a leading manufacturer
and supplier of a broad line of passive electronic components and related
products.
Certain statements contained above may be "forward looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995. Actual
events, results and/or timing may differ from the events, results and/or timing
as projected, estimated, or described above.
Contact: AVX Corporation, Myrtle Beach
Donald Christiansen 803-946-0466
