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Plant Consolidation | 3 Months Ended
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Mar. 31, 2014
Plant Consolidation |
Plant Consolidation | (11) Plant Consolidation On January 7, 2014, the Company committed to move forward with a plan to cease operations at its Glendale Heights, Illinois plant and consolidate operations into its Grand Rapids, Michigan facility. The Company’s decision was in response to a pending significant increase in lease cost, declining sales at the Illinois facility, and significant anticipated savings as a result of the consolidation. The Company expects to incur approximately $1,150,000 in one-time expenses in connection with the consolidation, and to invest approximately $300,000 in building improvements in Grand Rapids. Included in the $1,150,000 amount above are approximately $350,000 of expenses the Company expects to incur relating to employee severance payments, approximately $550,000 in moving expenses and expenses associated with vacating the Glendale Heights building and approximately $250,000 in expenses in moving equipment within the Grand Rapids location. Total cash charges are estimated at $1,450,000. The Company expects annual cost savings of approximately $750,000 as a result of the plant consolidation. Through March 31, 2014, the Company has incurred approximately $90,000 for workforce training, severance and other infrastructure costs related to the plant consolidation.

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- Definition The entire disclosure for plant consolidation consisting of restructuring and consolidation of plant facilities of the entity. + References No definition available. + Details
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