Acquisitions, Dispositions and Plant Closures

3 Months Ended

Mar. 31, 2021

Acquisitions, Dispositions and Plant Closures [Abstract]

Acquisitions, Dispositions and Plant Closures [Text Block]

Acquisitions, Dispositions and Plant Closures

Plant Closures

•    European Compounding Center of Excellence

In July 2020, the Company announced that it is establishing a European Compounding Center of Excellence at its Forli, Italy facility, which includes the intended consolidation of its compounding operations in Kaiserslautern, Germany; Wehr, Germany; and Ferrara Marconi, Italy. These operations are included in the Company's Engineered Materials segment. The Company expects to complete the consolidation of the compounding operations by 2022.

The exit and shutdown costs related to the Forli, Italy consolidation were as follows:

	Three Months Ended March 31, 2021
	(In $ millions)
Accelerated depreciation expense	2
Plant/office closures(1)	(9)
Total	(7)

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(1)Included in Other (charges) gains, net in the unaudited interim consolidated statement of operations (Note 12).

The Company expects to incur additional exit and shutdown costs related to the Forli, Italy consolidation of approximately $22 million through 2022.