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3. Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2014
Property, Plant and Equipment [Abstract]  
3. Property, Plant and Equipment

Property, plant and equipment consist of the following:

 

    As of  
    December 31, 2014     December 31, 2013  
Land   $ 2,753     $ 2,765  
Plant and Buildings     82,338       82,355  
Furniture and fixtures     458       558  
Machinery and equipment     4,063       2,076  
Construction in progress     148       539  
Total gross property, plant & equipment     89,760       88,293  
Less accumulated depreciation     (13,950 )     (9,365 )
Total net property, plant & equipment   $ 75,810     $ 78,928  
                 

 

Depreciation on the components of the property, plant and equipment is calculated using the straight-line method to allocate their depreciable amounts over their estimated useful lives as follows:

 

    Years  
Plant and Buildings     20 - 30  
Machinery & Equipment     5 - 7  
Furniture & Fixtures     3 - 5  

 

The Company recorded depreciation expense for the years ended December 31, 2014, 2013, and 2012 of $4.7 million , $4.6 million, and $3.0 million, respectively.

 

Management is required to evaluate these long-lived assets for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Based on the evaluation, management determined no assets required impairment as of December 31, 2014 and 2013.