Subsequent Event

6 Months Ended

Jun. 30, 2016

Subsequent Events [Abstract]

Subsequent Event

Subsequent Event

On July 11, 2016, the Company, itself and through three of its subsidiaries (collectively, the “Purchaser”), entered into a Share Purchase Agreement (the "SPA") with Adval Tech Holding AG and Adval Tech Holdings (Asia) Pte. Ltd. (collectively, the “Sellers”) for the acquisition (the “Acquisition”) of the Sellers’ molds business (the "FOBOHA business"). The FOBOHA business is headquartered in Haslach, Germany and operates out of three manufacturing facilities located in Germany, Switzerland and China. The FOBOHA business specializes in the development and manufacture of complex plastic injection molds for packaging, medical, consumer and automotive applications. The purchase price for the Acquisition under the terms of the SPA is CHF 133,000 in cash, subject to certain closing adjustments. The closing of the Acquisition is subject to the satisfaction of certain closing conditions, and is currently expected to occur in the third quarter of 2016. The Company expects to finance the transaction with cash on hand and borrowings under the Company’s revolving credit facility. Following the closing, the FOBOHA business will operate within the Molding Solutions business unit of the Industrial segment.