Subsequent Events

6 Months Ended

Jun. 30, 2012

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On July 10, 2012, the Company executed a $250,000 accordion feature that was available under the Company's existing $500,000 Credit Agreement, increasing the available amount under the Credit Facility to $750,000.

On July 16, 2012, the Company entered into a Stock Purchase Agreement (the "Stock Purchase Agreement") to acquire all of the issued and outstanding shares of capital stock of Synventive Acquisition Inc. ("Synventive”). Together with its subsidiaries, Synventive, which is headquartered in Peabody, Massachusetts, is a leading designer and manufacturer of highly engineered and customized hot runner systems and components and provides related services.  The purchase price payable by the Company for such shares pursuant to the terms of the Stock Purchase Agreement is $335,000 in cash, subject to certain adjustments in connection with the closing. The acquisition is subject to closing conditions, including third party agreements, and is currently expected to occur during August 2012. Synventive is expected to operate within the Company's Industrial segment. The Company expects to fund the purchase price for the acquisition from cash on hand and borrowings under the accordion feature.