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3. Property, Plant and Equipment
 6 Months Ended
Jun. 30, 2015
Property, Plant and Equipment [Abstract]  
3. Property, Plant and Equipment

Property, plant and equipment consist of the following:

 

  June 30, 2015   December 31, 2014
Land $ 2,749   $ 2,753
Plant and Buildings   82,265     82,338
Furniture and fixtures   492     458
Machinery and equipment   4,061     4,063
Construction in progress   124     148
Total gross property, plant & equipment   89,691     89,760
Less accumulated depreciation                      (16,315)              (13,950)
Total net property, plant & equipment $ 73,376   $ 75,810

 

Depreciation on the components of 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

 

For the three months ended June 30, 2015 and 2014, the Company recorded depreciation expense of $1.2 million and $1.1 million, respectively. For the six months ended June 30, 2015 and 2014, the Company recorded depreciation expense of $2.4 million and $2.3 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. Management determined there were no triggering events on the long-lived assets during the three and six months ended June 30, 2015.