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Acquisition of Competitor's Assets
12 Months Ended
Dec. 31, 2014
Acquisition of Competitors Assets [Abstract]  
Acquisition of Competitors Assets

Q.   ACQUISITION OF COMPETITOR’S ASSETS

On November 7, 2013, AMTEC Corporation, a wholly owned subsidiary of the Company, purchased certain assets from its competitor, DSE, Inc.  The transaction was considered an acquisition of assets.  DSE was the minority prime contractor for the 40mm ammunition system to the Department of Defense.  At the time of purchase, DSE had terminated virtually all of its employees and was no longer manufacturing product.  The primary assets acquired were a customer contract intangible of $21,690,000 related to government contract backlog of approximately $188,000,000, inventory valued at $11,590,000, and equipment of $14,245,000.   As it already had the personnel, facilities and production equipment in place to fill the acquired backlog, AMTEC did not purchase any of DSE’s plants or land and did not acquire or retain DSE’s management, operational, resource management, or distribution processes.  It also did not procure any of DSE’s trademarks or seek to find or hire DSE’s former employees. The purchase consideration was $47,803,000, consisting of $46,465,000 of cash paid and $1,338,000 liabilities incurred.  This amount does include the customary post-closing adjustments and the valuation of certain liabilities incurred.