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3. Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2015
Property, Plant and Equipment [Abstract]  
3. Property, Plant and Equipment

Property, plant and equipment consist of the following:

 

    December 31, 2015     December 31, 2014  
Land   $ 2,727     $ 2,753  
Plant and Buildings     81,821       82,338  
Furniture and fixtures     494       458  
Machinery and equipment     4,052       4,063  
Construction in progress     147       148  
Total gross property, plant & equipment     89,241       89,760  
Less accumulated depreciation     (18,523 )     (13,950 )
Total net property, plant & equipment   $ 70,718     $ 75,810  

 

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 of $4.7 million each for the years ended December 31, 2015 and 2014.

 

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, 2015 and 2014.