AVX Corporation

AVX Corporation is an American electronic-components manufacturer headquartered in Fountain Inn, South Carolina. The company developed from a ceramic-capacitor operation established in 1972 as a subsidiary of Aerovox Corporation and became known especially for multilayer ceramic capacitors, tantalum capacitors, resistors, connectors, and other passive components. Its products are used in automotive systems, telecommunications equipment, computers, mobile devices, medical equipment, industrial machinery, consumer electronics, appliances, and transportation applications. The business grew rapidly under Marshall D. Butler, who became chairman and chief executive in 1973. Butler emphasized multilayer ceramic capacitors, which were increasingly important in electronic systems built around integrated circuits. AVX invested heavily in manufacturing capacity and product development, and by 1979 its sales had exceeded the internal target established for the company’s expansion plan. During the 1980s it expanded in Europe and continued growing through acquisitions and research, although the component industry experienced repeated inventory corrections when computer and electronics manufacturers overbought capacitors. AVX’s relationship with Kyocera deepened during the late 1970s. Kyocera had a strong position in ceramic technology but faced restrictions affecting sales and manufacturing relationships in Japan, while AVX wanted broader international access and a closer connection with Kyocera’s product portfolio. Kyocera acquired AVX in 1990 through a stock purchase. Kyocera later sold a minority portion of AVX while retaining majority ownership; AVX used proceeds to expand connector production and increase capacity for ceramic and tantalum capacitors. The company also distributed Kyocera products and supported Kyocera’s manufacturing expansion in several countries. AVX reached a major scale during the technology boom of the late 1990s and early 2000s. By the end of fiscal 2001, it had plants in 12 countries, approximately 21,000 employees, and sales of about $2.6 billion, according to historical reference material. A subsequent recession sharply reduced revenue and employment. Production and sourcing later shifted toward facilities in the Czech Republic and China, while the company consolidated smaller plants in response to industry cycles and the 2008–09 credit crisis. The company moved its corporate headquarters from the Myrtle Beach area toward Greenville, South Carolina, in a process announced in 2009, while retaining manufacturing activity in Conway and Myrtle Beach. It also rebuilt or consolidated some South Carolina operations. In 2018, AVX closed its Olean, New York, electronic-component plant, a site associated with a long-running environmental investigation involving trichloroethylene contamination. AVX remained a Kyocera-controlled electronic-components business rather than an independent consumer brand. On October 1, 2021, the company adopted the name KYOCERA AVX Components Corporation and began using KYOCERA AVX as its principal business brand. Its portfolio continues to cover passive components, connectors, sensors and related electronic technologies, with customers and applications spanning automotive, industrial, medical, telecommunications, consumer and other global markets.

AVX began in 1972 as a ceramic-capacitor subsidiary of Aerovox Corporation, whose corporate history extended back to an earlier radio business. In 1973, assets were transferred so that AVX became the parent organization, and Marshall D. Butler became chairman and chief executive. Butler directed the company toward multilayer ceramic capacitors, recognizing their importance in the expanding integrated-circuit and computer industries. A substantial investment program and disciplined market analysis helped AVX exceed its growth objectives by 1979. International expansion followed. AVX established European operations and entered Japan through a subsidiary in 1979 after discussions involving Kyocera leadership and restrictions affecting the companies’ respective markets. During the 1980s, AVX expanded through research, manufacturing growth and acquisitions. Sales reached approximately $234 million in 1984 and about $450 million by the end of the decade, despite cyclical downturns caused by excess capacitor inventories among computer manufacturers. Kyocera acquired AVX in January 1990 through a stock purchase valued at approximately $267 million. The acquisition connected Kyocera’s ceramic-technology capabilities with AVX’s component manufacturing and international distribution network. Butler retired as chief executive in 1993 but remained involved as a director, and Benedict P. Rosen succeeded him. By the mid-1990s, demand from personal computers, mobile phones, automobiles, appliances and medical equipment helped push sales close to $1 billion. Kyocera later sold approximately one-quarter of AVX while retaining majority ownership. AVX used the proceeds to expand its connector business and increase ceramic- and tantalum-capacitor production. The late-1990s technology cycle again produced strong growth followed by overcapacity. Rising material costs and the Asian financial crisis created additional pressure, leading to layoffs and restructuring. The company added or expanded operations in El Salvador and the Czech Republic, and later moved a growing share of production to China. By the end of fiscal 2001, AVX operated 26 plants in 12 countries, employed about 21,000 people and reported approximately $2.6 billion in sales. A subsequent recession reduced revenue to roughly $1.25 billion and lowered employment to about 12,500. AVX continued to manage capacity through the 2000s. It closed or consolidated smaller facilities during the 2008–09 financial crisis, including its Paignton plant in England. In December 2009, it announced a headquarters move toward Greenville, South Carolina, while maintaining manufacturing in Conway and Myrtle Beach. The company later demolished its original Myrtle Beach plant and continued production nearby. In 2018 it closed the Olean, New York, plant, a location tied to environmental proceedings involving trichloroethylene contamination. Environmental litigation became a significant part of AVX’s public history. Myrtle Beach-area property owners and developers alleged that TCE used at the company’s former plant had migrated into nearby soil and groundwater, reducing property values and interfering with development. AVX disputed the extent and source of contamination and argued that the former Myrtle Beach Air Force Base contributed to some pollution. Courts and juries issued a series of rulings and awards, followed by settlements and continuing litigation over cleanup responsibility and so-called stigma damages. On October 1, 2021, AVX changed its corporate name to KYOCERA AVX Components Corporation and began operating under the KYOCERA AVX business identity. The business remains part of Kyocera’s global electronic-components operations, serving automotive, industrial, medical, telecommunications, consumer and other electronics markets.

1. 2021Business is renamed KYOCERA AVX

   AVX changes its legal name to KYOCERA AVX Components Corporation and adopts KYOCERA AVX as its business brand.

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2. 2018Olean plant closes

   AVX closes its Olean, New York, electronic-component manufacturing plant.

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3. 2009Headquarters relocation is announced

   AVX announces a move of its corporate headquarters toward Greenville, South Carolina.

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4. 2001AVX reaches peak historical scale

   By fiscal year-end, the company has 26 plants in 12 countries, around 21,000 employees and approximately $2.6 billion in sales.

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5. 1990Kyocera acquires AVX

   Kyocera acquires AVX through a stock purchase, making the component manufacturer part of the Kyocera group.

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6. 1979Japanese subsidiary is established

   AVX expands into Japan after resolving market-access issues associated with its relationship with Kyocera.

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7. 1973AVX becomes the parent company

   Aerovox assets are transferred and AVX becomes the parent organization; Marshall D. Butler becomes chairman and CEO.

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8. 1972AVX is established as a ceramic-capacitor subsidiary

   AVX begins operations within Aerovox’s corporate structure, focusing on ceramic capacitors.

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Global supplier of passive electronic components and interconnect products for high-volume, mission-critical electronic systems.

• Multilayer ceramic capacitorsPassive electronic components1972

  Multilayer ceramic capacitors are a core AVX product family. They provide capacitance, filtering, decoupling and energy-management functions in compact electronic assemblies. AVX developed this category as a strategic focus during the 1970s, when integrated circuits and increasingly dense electronic systems were expanding demand for small, reliable passive components. Applications include automotive electronics, mobile devices, computers, industrial equipment, medical products and consumer electronics.

• Tantalum capacitorsPassive electronic components

  Tantalum capacitors form another major AVX product line. They are used where stable capacitance, compact size and dependable performance are required, including telecommunications, computing, automotive, industrial and portable electronic equipment. AVX expanded tantalum-capacitor manufacturing as part of its broader product and capacity development under Kyocera ownership.

• ConnectorsInterconnect products1995

  AVX connectors provide mechanical and electrical interconnection in electronic and electromechanical systems. The company expanded into connectors during the 1990s, with products serving automotive, medical and other demanding applications. This business complemented AVX’s passive-component portfolio and broadened its role from capacitor supplier to integrated electronic-components manufacturer.

• Resistors and related passive componentsPassive electronic components

  AVX supplies resistors and other passive components used to control current, divide voltage, filter signals and support circuit protection or conditioning. These products are sold into applications ranging from automotive and industrial electronics to telecommunications, medical equipment and consumer devices.

• 2021Rebrand as KYOCERA AVXStrategy

  The business had operated as a Kyocera subsidiary for decades and was being aligned more visibly with its parent group.

  What changed. AVX changed its legal name to KYOCERA AVX Components Corporation and adopted KYOCERA AVX as its business brand.

  Aftermath. The AVX identity continued within the KYOCERA AVX brand and electronic-components portfolio.

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• 2009Consolidate facilities during the credit crisisStrategy

  The global financial crisis weakened demand and increased pressure to reduce operating costs.

  What changed. AVX announced closure of several smaller worldwide factories, including its Paignton, England, facility.

  Aftermath. The company retained selected manufacturing operations and continued restructuring its international production footprint.

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• 2009Move corporate headquartersStrategy

  AVX sought to reorganize its corporate presence in South Carolina while preserving important local manufacturing operations.

  What changed. The company announced a headquarters move toward Greenville, with approximately 150 positions leaving the Myrtle Beach area.

  Aftermath. Manufacturing in Conway and Myrtle Beach was planned to continue.

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• 1990Accept Kyocera acquisitionM&A

  AVX sought stronger international scale and a closer relationship with Kyocera’s ceramic-technology and distribution activities.

  What changed. Kyocera acquired AVX through a stock purchase and incorporated it into the Kyocera group.

  Aftermath. AVX remained a major Kyocera electronic-components business and later expanded connectors, capacitor capacity and international manufacturing.

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• 2015Continuing claims over contamination-related stigma damagesControversy

  A South Carolina Supreme Court ruling allowed property owners’ claims against AVX to continue, including arguments concerning diminished property value associated with contamination stigma.

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• 2014Proposed property-owner settlementControversy

  AVX agreed to pay $1.2 million to owners of 42 contaminated properties, subject to approval, in an effort to resolve a class-action dispute concerning TCE contamination.

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• 2011Court and jury findings in South Carolina pollution casesControversy

  A federal judge found that evidence supported a finding that AVX caused pollution in the relevant property dispute. In a separate development-related case, a jury awarded actual and punitive damages to JDS Development.

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• 2007Myrtle Beach TCE contamination litigationControversy

  Nearby property owners and developers sued AVX, alleging that trichloroethylene used at its former Myrtle Beach plant contaminated soil and groundwater, reduced property values and affected planned development. AVX disputed the claims’ scope and argued that the former Myrtle Beach Air Force Base contributed to at least some contamination.

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• 2021AVX adopts KYOCERA AVX Components Corporation name

  The company changed its legal name to KYOCERA AVX Components Corporation and adopted KYOCERA AVX as its business brand.

  M&ALeadership change
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• 2009AVX announces headquarters move within South Carolina

  The company announced plans to move its corporate headquarters toward Greenville while retaining manufacturing operations in the Conway and Myrtle Beach area.

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• 2009AVX announces closure of smaller overseas factories

  AVX began consolidating selected smaller facilities, including its Paignton, England, plant, as part of a cost-reduction response to the global credit crisis.

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1. AVX Corporation
2. KYOCERA AVX official website