Note 3. DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2013

Policy Text Block [Abstract]

Discontinued Operations, Policy [Policy Text Block]

Note 3. DISCONTINUED OPERATIONS

On January 24, 2013, the Company announced the closure of the Glit division of Continental Commercial Products, LLC. The Company ceased the majority of the operations of the division in the first quarter of 2013.  In addition, the Company sold certain assets related to the Glit division in the second quarter of 2013. The Company used  the net proceeds from the sale of assets to settle the outstanding operating liabilities related to the division, pay off the outstanding borrowing related to the CapEx Sublimit (see Note 4), and reduce the outstanding balance under the PB Loan Agreement (as defined in Note 4 below).

On July 24, 2012, the Company announced the closure of the Container division of CCP. The Company sold certain assets related to the Container division for $0.6 million.

On September 20, 2012, the Company sold certain assets related to the Gemtex division to 2340258 Ontario, Inc. (the “Buyer”), a corporation incorporated under the laws of the Province of Ontario, for $1.0 million, $0.7 million of which will be payable in 48 monthly installments subject to certain prepayment requirements in connection with the generation of excess cash by the Buyer.  The Company used the net proceeds from the transaction to reduce its outstanding balance under the PB Loan Agreement (see Note 4).

The closure of the Glit and Container divisions and the sale of the Gemtex division met the criteria for classification as discontinued operations in accordance with GAAP; therefore, the Company has classified the results of the Glit, Container, and Gemtex divisions as discontinued operations for all periods presented. The assets sold as part of the Glit division have been recorded as assets held for sale at December 31, 2012. Selected financial data for discontinued operations is summarized as follows (amounts in thousands):

	For the Year Ended
	December 31,
	2013
	Total		Container Division			Gemtex Division		Glit Division
Net sales	$	7,991	$	-		$	-	$	7,991
Operating income (loss) - net of tax	$	73	$	(333	)	$	12	$	394

	For the Year Ended
	December 31,
	2012
	Total			Container Division			Gemtex Division			Glit Division
Net sales	$	33,111		$	8,547		$	4,419		$	20,145
Operating loss - net of tax	$	(9,453	)	$	(386	)	$	(1,164	)	$	(7,903	)
Loss on sale - net of tax	$	(280	)	$	-		$	(280	)	$	-

The components of assets and liabilities held for sale as of December 31, 2013 and December 31, 2012 are as follows (amounts in thousands):

	December 31, 2013		December 31, 2012
Property and equipment, net	$	-	$	1,300
Intangibles		-		375
Receivables from property and equipment sales		74		-
	$	74	$	1,675