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3. Property, Plant and Equipment
 9 Months Ended
Sep. 30, 2016
Property, Plant and Equipment [Abstract]  
3. Property, Plant and Equipment

Property, plant and equipment consist of the following:

 

    September 30, 2016       December 31, 2015    
Land   $ 2,724     $ 2,727  
Plant and buildings     81,975       81,821  
Furniture and fixtures     504       494  
Machinery and equipment     4,314       4,052  
Construction in progress     25       147  
Total gross property, plant & equipment     89,542       89,241  
Less accumulated depreciation     (21,999 )     (18,523 )
Total net property, plant & equipment   $ 67,543     $ 70,718  

 

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 September 30, 2016 and 2015, the Company recorded depreciation expense of $1.1 million and $1.2 million, respectively. For the nine months ended September 30, 2016 and 2015, the Company recorded depreciation expense of $3.5 million and $3.6 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, 2016.