Subsequent Events (Unaudited)

12 Months Ended

Dec. 31, 2016

Subsequent Events [Abstract]

Subsequent Events

16.  Subsequent Events (Unaudited)

In March 2017, the Company entered into a Fifth Amended and Restated Loan Agreement (the “Loan Agreement”).  The Loan Agreement replaces the existing $300 million Loan Amendment with a $200 million senior revolving credit facility and extends the term from December 2018 to March 2022.  In addition, the Loan Agreement provides for a maximum Leverage Ratio of 3.75 for the first and second quarters of 2017, stepping down to 3.5 in the third quarter of 2017, and 3.25 thereafter.

On March 9, 2017, the Company announced a restructuring plan (the “Plan”) to improve the Company’s organizational structure and operational efficiency.  In connection with the Plan, the Company expects to record a restructuring charge of approximately $10 million in 2017 related to machine transfer and installation costs, facility shutdown costs, asset impairment costs and employee reduction expenses.  The Company expects to save approximately $10 million on an annualized basis once the project is completed.Actions under the Plan are expected to be substantially completed by the end of 2017.  The actual timing and costs of the Plan may differ materially from the Company’s current expectations and estimates.