PROPERTY, PLANT AND EQUIPMENT

9 Months Ended

Sep. 30, 2016

PROPERTY, PLANT AND EQUIPMENT [Abstract]

PROPERTY, PLANT AND EQUIPMENT

6.  PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consist of the following:

	September 30,			December 31,
	2016			2015
Land	$	2,245		$	2,240
Buildings and improvements		30,833			29,346
Machinery and equipment		120,572			116,921
Construction in progress		3,098			4,949
		156,748			153,456
Accumulated depreciation		(104,675	)		(95,845	)
Property, plant and equipment, net	$	52,073		$	57,611

In July 2016, the Company closed on the sale of a property in Hong Kong which had a net book value of less than $0.1 million.  The consideration received related to this sale was $2.1 million.  The Company recorded a gain on sale related to this property of $2.1 million during the third quarter of 2016.

Depreciation expense for the three months ended September 30, 2016 and 2015 was $3.7 million and $3.8 million, respectively.  Depreciation expense for the nine months ended September 30, 2016 and 2015 was $11.1 million and $11.9 million, respectively.  The nine months September 30, 2015 depreciation expense includes adjustments related to the finalization of purchase accounting.