GSA Daily Staff Report
Published Dec. 4, 2009
AVX Corp. announced on Thursday that it will relocate its corporate offices from Myrtle Beach to Greenville, a move that will affect about 150 employees.
AVX makes electric capacitors for the computer, cellular, industrial, automotive, consumer, military and medical industries, among others. The company’s South Carolina manufacturing operations will remain in Myrtle Beach and Conway, AVX said in a statement.
Company executives were unavailable to provide details of the move. According to a brief press release issued Thursday, AVX will relocate over the next several months to a newly acquired facility somewhere outside Greenville city limits.
According to the company’s most recent earnings state, AVX revenues dropped 22% in the quarter ended in September to $310.5 million. Net income was up 2%, however, to $32.5 million for a 21% increase in profit margin. Stock in the company rose nearly 2% in early trading today to $12.57 a share.
In addition to South Carolina, AVX has offices in South America, Europe and Asia.