PROPERTY, PLANT AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2013

PROPERTY, PLANT AND EQUIPMENT, NET [Abstract]

NOTE 8 - PROPERTY, PLANT AND EQUIPMENT, NET

Composition of assets, grouped by major classifications, is as follows:

	December 31,
	2013 (*)		2012
Cost:
Land and buildings	$	5,582	$	6,929
Machinery and equipment (1)		34,696		36,849
Motor vehicles		418		676
Office furniture and equipment		1,559		2,293
Software		1,166		1,166
		43,421		47,913

Less: Accumulated depreciation		32,274		35,003
Depreciated cost	$	11,147	$	12,910

(*) Excluding held for sale assets at December 31, 2013

(1)

The cost is net of investment grants received by Bental in the amount of $274 as of December 31, 2012.

Depreciation and amortization expenses amounted to $1,859, $1,906 and $2,618 for the years ended December 31, 2013, 2012 and 2011, respectively (depreciation and amortization expenses do not include impairment charges).

During the year ended December 31, 2011, the Company recorded impairment of property, plant and equipment in the amount of $1,865, attributable to certain property and equipment items of the MRO services for aviation components segment, based on estimations of the fair value of these assets. The impairment charge was recorded under the cost of revenues item in the consolidated statements of operations.

Liens on property, plant and equipment are discussed at note 14(f).

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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