Property, Plant and Equipment

9 Months Ended

Sep. 30, 2021

Property Plant And Equipment [Abstract]

4. Property, Plant and Equipment, net — Property, plant and equipment as at September 30, 2021 and December 31, 2020 consists of the following:

	September 30, 2021			December 31, 2020
Land	$	2,923		$	2,756
Buildings and improvements		19,993			19,786
Machinery and equipment		131,631			124,199
Office furniture, fixtures and equipment		10,057			7,403
Automotive equipment		1,901			1,747
Construction in progress		6,787			10,392
Total gross value		173,292			166,283
Less accumulated depreciation		(106,791	)		(100,901	)
Total net value	$	66,501		$	65,382

The Company recognized depreciation expense related to property, plant and equipment of $2,833 and $1,878 for the three months ended September 30, 2021 and 2020, respectively. During the three months ended September 30, 2021 and 2020, the Company eliminated $476 and 205, respectively, from such assets and accumulated depreciation of fully depreciated assets.

The Company recognized depreciation expense related to property, plant and equipment of $6,677 and $5,235 for the nine months ended September 30, 2021 and 2020, respectively. During the nine months ended September 30, 2021 and 2020, the Company eliminated $787 and $601, respectively, from such assets and accumulated depreciation of fully depreciated assets.

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