AVX Corporation (NYSE: AVX) and Cabot Corporation (NYSE: CBT) 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.
According to Kurt Cummings, Vice President and Chief Financial Officer and spokesperson for AVX, “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.” According to Eduardo E. Cordeiro, Cabot’s Executive Vice President and Chief Financial Officer, “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.”
Additional Resources: (1) Tantalum Capacitors: World Markets, Technologies & Opportunities: 2010-2015 ISBN # 1-893211-11-8 (© April 2010) (2) TANTALUM: Global Market Outlook: 2008-2013 ISBN # 0-929717-81-3 (2008)