Note 10. SEVERANCE, RESTRUCTURING AND RELATED CHARGES

9 Months Ended

Sep. 30, 2011

Restructuring and Related Activities Disclosure [Text Block]

Note 10.  SEVERANCE, RESTRUCTURING AND RELATED CHARGES

Over the past several years, the Company has initiated several cost reduction and facility consolidation initiatives, resulting in severance, restructuring and related charges.  These initiatives resulted from the on-going strategic reassessment of the Company’s various businesses as well as the markets in which they operate.

Wilen facility relocation – In the second quarter of 2010, the Company informed employees of its intent to close the Wilen facility in Atlanta, Georgia and relocate the manufacturing and distribution functions to the CCP location in Bridgeton, Missouri.  The relocation was completed by the end of 2010.  Management believes that no further material charges will be incurred for this activity.  Following is a rollforward of restructuring liabilities by type for the Wilen facility relocation (amounts in thousands):

	One-time
	Termination
	Benefits
Restructuring liabilities at December 31, 2010	$	125
Additions		-
Payments		(125	)
Restructuring liabilities at September 30, 2011	$	-

Consolidation of St. Louis manufacturing/distribution facilities – In 2002, the Company committed to a plan to consolidate the manufacturing and distribution of the four CCP facilities in the St. Louis, Missouri area.  Management believed that in order to implement a more competitive cost structure, the excess capacity at the four plastic molding facilities in this area would need to be eliminated.  This plan was completed by the end of 2003.  Management believes that no further charges will be incurred for this activity, except for potential adjustments to noncancelable lease liabilities as actual activity compares to assumptions made.  Following is a rollforward of restructuring liabilities for the consolidation of St. Louis manufacturing/distribution facilities (amounts in thousands):

	Contract
	Termination
	Costs
Restructuring liabilities at December 31, 2010	$	314
Additions		393
Payments		(45	)
Other		(393	)
Restructuring liabilities at September 30, 2011	$	269

This amount relates to noncancelable lease liabilities for abandoned facilities, net of potential sub-lease revenue.  Total maximum potential amount of lease loss, excluding any sub-lease rentals, is $0.4 million as of September 30, 2011.  The Company has included $0.1 million as an offset for sub-lease rentals.  This amount is expected to be paid in 2011.  In the third quarter of 2011 the Company recorded an additional restructuring charge of $0.4 million related to a sub-lease rental.  As of September 30, 2011, the Company does not anticipate any further significant severance, restructuring and other related charges in the upcoming year related to the plan discussed above.

A rollforward of all restructuring liabilities is as follows (amounts in thousands):

				One-time			Contract
				Termination			Termination
	Total			Benefits			Costs
Restructuring liabilities at December 31, 2010	$	439		$	125		$	314
Additions		393			-			393
Payments		(170	)		(125	)		(45	)
Other		(393	)		-			(393	)
Restructuring liabilities at September 30, 2011	$	269		$	-		$	269