AVX Corp Form 8-K Entry into a Material Definitive Agreement
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (date of earliest event reported): March 31, 2006
 
AVX CORPORATION
(Exact Name of Registrant as Specified in its Charter)

Delaware
1-7201
33-0379007
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification Number)
     
801 17th Avenue South
    
Myrtle Beach, South Carolina
  
29577
(Address of principal executive offices)
  
(Zip Code)
     
(843) 448-9411
(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 

Item 1.01.  Entry into a Material Definitive Agreement

Since January 1990, AVX Corporation (“AVX”) and Kyocera Corporation (“Kyocera”) have engaged in transactions as described in Note 15 to the consolidated financial statements in AVX’s Annual Report on Form 10-K for the year ended March 31, 2005 and in its 2005 annual meeting proxy statement under the caption “Relationship with Kyocera and Related Transactions.”

Kyocera is the majority stockholder of AVX. As of March 30, 2006, Kyocera owned beneficially and of record 121,800,000 shares of common stock, representing approximately 70% of AVX’s outstanding shares.

In connection with these arrangements, AVX and Kyocera today entered into an amended Disclosure and Option to License Agreement, effective as of April 1, 2006, extending the prior agreement for one year to April 1, 2007 upon existing terms. Pursuant to this agreement, AVX and Kyocera exchange confidential information relating to the development and manufacture of multi-layered ceramic capacitors and various other ceramic products as well as the license of technologies in certain circumstances.

 
 
 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Date: March 31, 2006

AVX CORPORATION


By:
 /s/ Kurt P. Cummings
   
Name:
Kurt P. Cummings
Title:
Vice President,
 
Chief Financial Officer,
 
Treasurer and Secretary