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3. Property, Plant and Equipment
 9 Months Ended
Sep. 30, 2015
Property, Plant and Equipment [Abstract]  
3. Property, Plant and Equipment

Property, plant and equipment consist of the following:

 

 

    September 30, 2015     December 31, 2014  
Land   $ 2,734     $ 2,753  
Plant and Buildings     81,929       82,338  
Furniture and fixtures     493       458  
Machinery and equipment     4,043       4,063  
Construction in progress     124       148  
Total gross property, plant & equipment     89,323       89,760  
Less accumulated depreciation     (17,389 )     (13,950 )
Total net property, plant & equipment   $ 71,934     $ 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 both three months ended September 30, 2015 and 2014, the Company recorded depreciation expense of $1.2 million. For the nine months ended September 30, 2015 and 2014, the Company recorded depreciation expense of $3.6 million and $3.5 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 nine months ended September 30, 2015.