Aerovox Announces Site Selection.NEW BEDFORD New Bedford, city (1990 pop. 99,922), seat of Bristol co., SE Mass., at the mouth of the Acushnet River on Buzzard's Bay; settled 1640, set off from Dartmouth 1787, inc. as a city 1847. , Mass.--(BUSINESS WIRE)--July 14, 1998--Aerovox Incorporated (NASDAQ/NM:ARVX) announced today that it has come to an agreement in principle with the City of New Bedford to relocate re·lo·cate v. re·lo·cat·ed, re·lo·cat·ing, re·lo·cates v.tr. To move to or establish in a new place: relocated the business. v.intr. its Belleville Avenue operations to the New Bedford Industrial Park. The Company will build a modern manufacturing facility and corporate offices on a 25-acre parcel of land, known as the "Tallyrand site". "This agreement with the City of New Bedford comes as a result of great cooperation between the Kalisz administration, his economic development staff and our Company," said Aerovox President and Chief Executive Officer, Robert D. Elliott. "New Bedford Mayor Frederick M. Kalisz, Jr. and the New Bedford Economic Development Council, including City Solicitor George Leontire, were dedicated to keeping Aerovox in the city. Without the city's help, the announcement today would not have been possible. We are happy to report that the site agreement provides a good solution for the Company, its employees and the City of New Bedford," said Elliott. Mayor Kalisz said, "The announcement clearly shows that municipal government, which is committed to economic development, can make a difference." "Also instrumental in relocation RELOCATION, Scotch law, contracts. To let again to renew a lease, is called a relocation. 2. When a tenant holds over after the expiration of his lease, with the consent of his landlord, this will amount to a relocation. negotiations was the Commonwealth's Department of Economic Development, which supported the City in putting together an agreement which was beneficial to all parties involved," noted Elliott. "Aerovox's relocation within New Bedford will result in a more productive and cost effective operation, while continuing to rely upon its skilled and dedicated people," said Elliott. "Our employees in New Bedford are the backbone of our operation. Their knowledge is a necessity in preserving Aerovox as a leader in the capacitor capacitor or condenser, device for the storage of electric charge. Simple capacitors consist of two plates made of an electrically conducting material (e.g., a metal) and separated by a nonconducting material or dielectric (e.g. industry," Elliott added. Aerovox plans to begin construction at the new site by the end of 1998 and to relocate by the fall of 1999. Aerovox Incorporated is a leading manufacturer of film, paper and aluminum electrolytic e·lec·tro·lyt·ic adj. 1. Of or relating to electrolysis. 2. Produced by electrolysis. 3. Of or relating to electrolytes. e·lec capacitors. The Company sells its products worldwide, principally to original equipment manufacturers as components in electrical and electronic equipment. In addition to its plant in New Bedford, Massachusetts New Bedford is a city in Bristol County, Massachusetts, located about 51 miles (82 kilometers) south of Boston, 28 miles (45 kilometers) southeast of Providence, Rhode Island, and about 12 miles (19 kilometers) east of Fall River. , Aerovox has operations in Huntsville, Alabama Huntsville is the county seat of Madison County, Alabama. Huntsville is the largest city in northern Alabama in a region of a half-million people, with the city proper having 168,132 residents (2006 estimate). ; Juarez, Mexico; and Weymouth, England.
CONTACT: Aerovox, Inc.
Lauren Nawrocki, 508/910-3673
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