AVX Corporation to close Taiwan factory

AVX Corporation (NYSE: AVX) reported that it has announced the decision to close its ferrite factory in Taiwan. Approximately 100 people currently work in the Taiwan facility. The implementation of the plant closure is expected to be completed during the next few months and related severance costs and asset impairment charges are estimated at between $5 and $6 million. AVX, headquartered in Myrtle Beach, South Carolina, is a leading international manufacturer and supplier of a broad line of passive electronic components and related products.Source: PCBnewsline