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Commitments and contingencies
9 Months Ended
Sep. 29, 2019
Commitments and Contingencies Disclosure [Abstract]  
Commitments and contingencies
Commitments and contingencies
Committed banking facilities
At September 29, 2019, and December 31, 2018, the Company had committed banking facilities of $150.0 million. The facilities were for providing loans and overdrafts, with a separate facility for letters of credit which at September 29, 2019 and December 31,2018, was £7.0 million ($8.9 million). Of the committed facilities, no loans were drawn and no letters of credit were utilized at September 29, 2019, ($3.5 million, and nil at December 31, 2018). The Company also has a separate bonding facility for bank guarantees denominated in GBP sterling of £3.0 million ($3.8 million), of which GBP sterling of £1.0 million ($1.4 million) was utilized at September 29, 2019, and December 31, 2018, respectively.
Contingencies
During February 2014, a cylinder was sold to a long-term customer and ruptured at one of their gas facilities. As a result of this rupture, three people were noted to have minor injuries such as loss of hearing. There was no major damage to assets of the customer. A claim was launched by the three people who were injured in the incident and a prosecutor has been appointed. We had reviewed our quality control checks from around the time which the cylinder was produced and no instances of failures were noted. It has also been noted by the investigator that the customer has poor quality and safety checks. As a result, we do not believe that we are liable for the incident, and therefore, do not currently expect this case to have a material impact on the Company's financial position or results of operations.
In November 2018, a garbage truck, outfitted with a Compressed Natural Gas (“CNG”) fuel system containing the Company’s cylinders and valves, was involved in a fire and explosion at a maintenance garage. As a result of this fire and explosion, an employee of the garage suffered personal injury. Additionally, the force of the explosion caused property damage to the garage and garbage truck. As at September 29, 2019 it is too early to determine the exact cause of the fire and explosion and how liability would be apportioned if a lawsuit was initiated. The Company is insured for claims made for injury or damage caused by products sold with a $1.0 million deductible. The maximum potential exposure and impact to our results of operations is $1.0 million.