Note 15. SEVERANCE, RESTRUCTURING AND RELATED CHARGES

12 Months Ended

Dec. 31, 2011

Restructuring and Related Activities Disclosure [Text Block]

Note 15. 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.

A summary of charges by major initiative is as follows (amounts in thousands):

	For the Years Ended December 31,
	2011		2010

Wilen facility relocation	$	-	$	1,277
Consolidation of St. Louis manufacturing/distribution facilities		417		-
Total severance, restructuring and related charges	$	417	$	1,277

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):

	Total			One-time Termination Benefits			Contract Termination Costs			Other
Restructuring liabilities at January 1, 2010	$	-		$	-		$	-		$	-
Additions		1,277			217			633			427
Payments		(1,152	)		(92	)		(633	)		(427	)
Restructuring liabilities at December 31, 2010	$	125		$	125		$	-		$	-
Payments		(125	)		(125	)		-			-
Restructuring liabilities at December 31, 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. 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 January 1, 2010	$	415
Additions		-
Payments		(197	)
Other		96
Restructuring liabilities at December 31, 2010	$	314
Additions		417
Payments		(338	)
Other		(393	)
Restructuring liabilities at December 31, 2011	$	-

A rollforward of all restructuring liabilities since January 1, 2010 is as follows (amounts in thousands):

	Total			One-time Termination Benefits			Contract Termination Costs			Other
Restructuring liabilities at January 1, 2010	$	415		$	-		$	415		$	-
Additions		1,277			217			633			427
Payments		(1,349	)		(92	)		(830	)		(427	)
Other		96			-			96			-
Restructuring liabilities at December 31, 2010	$	439		$	125		$	314		$	-
Additions		417			-			417			-
Payments		(463	)		(125	)		(338	)		-
Other		(393	)		-			(393	)		-
Restructuring liabilities at December 31, 2011	$	-		$	-		$	-		$	-

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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