Posted in the Olean Forum
#1 Mar 27, 2009
Kinda looks like AVX will be the next buisness to leave Olean!
#2 Mar 27, 2009
We are going to continue, Jim, to invest in new products. We will spend about $40 million,$45 million this year. I think what we are doing is, we started on a plan in this down time to consolidate into increasingly larger facilities in order to get that leverage. We will continue to do that. In this world that we are in today, we have got to move away from smaller facilities. So we are doing more consolidations of the larger operations. And that's something we are going to continue to do the next couple of quarters.
John is CEO of AVX in Myrtle Beach this is part of a quote given at a board meeting for shareholders in 12/08
#4 Mar 27, 2009
Generally what those tend to be, is more legacy products. Products that have been around a long time and in some cases we have kept them operating because the big OEM also buys other newer products for us, and some of those legacy lines will be shut down in the next two quarters. Because in this environment customers are more understanding than they have been in the past; and we just can't afford those break-even type product lines anymore.
#5 Mar 31, 2009
AVX is depending on Obama to save the Olean plant? AVX employees should start looking for work now. Read between the lines. Myrtle Beach would not even return phone calls to a small time newspaper! See above stockholders meetings notes. Then decide for yourself!
The notice that was posted inside the plant was simply done so there is not a mass excedus of remaining employees. These employees are needed to complete the current customer orders before closing. JMO. I give them maybe 3 months. 6 tops. It will not be feasable for this plant to stay open.
#6 Jun 8, 2009
My theory is just about on target. AVX starts a 4 day work week. Last week they all but shut down 3rd shift. I give them maybe, maybe 2-3 months before they close the doors. Remember you heard it here because OTH would never run a sory on this. Only the city workers that get laid off or D.R.. Sad, at one time there was over 1500 employees there. Now less than 100!
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