AVX Czechoslovakia Spol s.r.o.
In separate contracts with AVX Corporation's subsidiaries in the United Kingdom and Germany, MIGA extended coverage totaling $22.5 million against the risks of war and civil disturbance for their investments in an assembly project in the Czech Republic. In fiscal 1993, MIGA extended $14.8 million coverage to AVX's investments in machinery and inventory for the same project. The project enterprise will manufacture capacitors for export, using raw materials from the United Kingdom and Germany. AVX will work in association with TESLA, a local electronic components manufacturing firm.