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4-Traders Homepage  >  Equities  >  Nyse  >  AVX Corporation    AVX

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AVX Corporation : Robert Bosch GmbH Becomes the First Company from the Automotive Sector to Join the AVX "Solutions for Hope" Project

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08/16/2012 | 05:00pm CEST

All tantalum ore for export is subject to a final-stage, independent on-the-ground assessment

AVX Corporation (NYSE:AVX), a leading manufacturer of advanced passive components and interconnect solutions, announced today that the major automotive supplier Robert Bosch GmbH, has joined the AVX "Solutions for Hope" Project.

We are very pleased to have Bosch, one of the world's premier electronics suppliers to the automotive sector participate in our project said Peter Collis Vice President of the tantalum products.

The "Solutions for Hope Project," established in July 2011, works with leading OEMs such as Motorola Solutions, Intel, and HP to deliver a "closed-pipe" process for delivering conflict-free tantalum material from the Democratic Republic of Congo (DRC) in accordance with the Organization for Economic Cooperation and Development (OECD) due diligence guidelines and incorporating the independently-validated Electronic Industry Code of Conduct (EICC) and the GLOBAL e-SUSTANABILITY INITIATIVE (GeSI) Conflict-Free Smelter (CFS) program.

The "Solutions for Hope Project" remains the only project to exclusively utilize EICC/GeSI validated Conflict-Free Smelters for processing tantalum ore into capacitor-grade materials.

AVX is the first in its industry to validate a closed tantalum pipe process, assuring all products contain only conflict-free tantalum in accordance with the principles of the Dodd-Frank legislation and the current OECD guidelines.

"AVX will continue its leading role by working with a growing list of major electronics companies like, Robert Bosch GmbH in the Solutions for Hope program. This program demonstrates that verifiably conflict-free tantalum material can be mined and shipped in a manner that is reliable, sustainable and expandable, allowing the DRC to be utilized as a trusted regional source for responsible minerals," said Bill Millman, Tantalum Divisional Director of Quality and Technology.

For further information on this project, please contact Bill Millman at AVX: +44 (0) 1803 697211 or conflict.free@eur.avx.com

About AVX

AVX Corporation is a leading international supplier of electronic passive components and interconnect solutions with 24 manufacturing and customer support facilities in 15 countries around the world. AVX offers a broad range of devices including capacitors, resistors, filters, timing and circuit protection devices and connectors. The company is publicly traded on the New York Stock Exchange (NYSE:AVX).

About the Bosch Group

The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer goods, and building technology, more than 300,000 associates generated sales of 51.5 billion euros in fiscal 2011.

AVX Corporation
Bill Millman, +44 (0) 1803 697211
Tantalum Divisional Director of Quality and Technology
conflict.free@eur.avx.com
or
BtB Marketing
Patricia Staino, 919-872-8172
patricia.staino@btbmarketing.com


© Business Wire 2012
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Financials ($)
Sales 2017 1 244 M
EBIT 2017 174 M
Net income 2017 130 M
Debt 2017 -
Yield 2017 3,22%
P/E ratio 2017 17,72
P/E ratio 2018 16,45
Capi. / Sales 2017 1,86x
Capi. / Sales 2018 1,79x
Capitalization 2 314 M
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Average target price 14,0 $
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John Sarvis President, Chief Executive Officer & Director
Tetsuo Kuba Chairman
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Joseph Stach Independent Director
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