AVX, Cabot Announce Litigation Settlement

AVX Corporation (AVX) and Cabot have announced the resolution of all outstanding litigation between the parties relating to the supply of tantalum by Cabot to AVX. The terms of the settlement are confidential.

Kurt Cummings, vice president and chief financial officer of AVX, said: “AVX is pleased with the complete resolution of these disputes which will allow both parties to focus on business challenges in the current economy. We expect that this settlement will allow both companies to forge a stronger relationship in the future.”

Eduardo Cordeiro, executive vice president and chief financial officer of Cabot, said: “Cabot has always viewed AVX as an important customer and believes that the resolution of these matters is in the best interest of both parties and consistent with their long term economic interests.”