Subsequent Events

9 Months Ended

Sep. 30, 2011

Subsequent Events

Subsequent Events

(18) Subsequent Events

In October 2011, we established a joint venture company with MCR Safety of Memphis, Tennessee. The new entity, Safety Works, LLC, is a full-line glove, garment and safety products company in the North American retail market. As the owner of approximately 73% of the equity, we will include Safety Works in our consolidated financial statements beginning in October 2011. The formation of the joint venture is not expected to have a material effect on our consolidated financial statements.

In October 2011, we sold certain assets related to our Paraclete ballistic vest business located in St. Pauls, North Carolina. The impact of this transaction and the operating results of the Paraclete ballistic vest business are not material to net income or earnings per share for all periods presented and are not expected to be significant to future results.

In October 2011, we resolved coverage litigation with Allianz Global Risks US Insurance Company and Allianz Underwriters Insurance Company through a negotiated settlement. As part of this settlement, both parties dismissed all claims against one another under previously-filed coverage litigation. The settlement is not expected to materially impact our operating results.

In October 2011, we sold our former headquarters building in O'Hara Township, Pennsylvania. This transaction is expected to result in a pre-tax gain of approximately $1.0 million.