Severance and restructuring costs

9 Months Ended

Jul. 31, 2011

Severance and restructuring cost [Abstract]

Severance and restructuring costs

15.

Severance and restructuring costs. In March 2011 we announced a restructuring of our Adhesive Dispensing Systems segment operations located in Georgia in order to optimize operations and better serve our customers. The restructuring involves the expansion of our facility in Duluth and a new facility in Swainsboro. The existing Swainsboro facility, as well as facilities in Norcross and Dawsonville, will be closed. Severance costs associated with this action will occur through the third quarter of 2012 and are estimated to be approximately $1,500. Payments are expected to begin in the first quarter of 2012. Of the total expense amount, $64 was recorded in selling and administrative expenses in the three months ended July 31, 2011.

As a result of this restructuring initiative, we assessed the fair value of the facilities involved and remeasured to fair value two of the facilities using third party property appraisals or market-corroborated inputs. The amount of Level 2 long-lived assets measured at fair value on a non-recurring basis was $4,150. Impairment losses of $1,322 on the two facilities were recorded in selling and administrative expense for the nine months ended July 31, 2011.