Property, Plant and Equipment

9 Months Ended

Sep. 30, 2020

Property Plant And Equipment [Abstract]

4. Property, plant and equipment at September 30, 2020 and December 31, 2019 consists of the following:

	September 30, 2020			December 31, 2019
Land	$	2,706		$	2,706
Buildings and improvements		18,629			18,640
Machinery and equipment		119,920			116,757
Office furniture, fixtures and equipment		6,954			6,228
Automotive equipment		1,656			1,762
Construction in progress		9,316			5,263
Total gross value		159,181			151,356
Less accumulated depreciation		(99,380	)		(94,835	)
Total net value	$	59,801		$	56,521

The Company recognized depreciation expense related to property, plant and equipment of $1,878 and $1,571 for the three- months ended September 30, 2020 and 2019, respectively. During the three-months ended September 30, 2020, the Company eliminated $205 from such assets and accumulated depreciation of fully depreciated assets. During the three-months ended September 30, 2019, the Company eliminated $8 from assets and accumulated depreciation of fully depreciated assets.

The Company recognized depreciation expense related to property, plant and equipment of $5,235 and $4,796 for the nine-months ended September 30, 2020 and 2019, respectively. During the nine-months ended September 30, 2020 and 2019, the Company eliminated from such assets and accumulated depreciation $601 and $718, respectively, of fully depreciated assets.

Substantially all of the Company’s assets are pledged as collateral to its banks.