Commitments and Contingent Liabilities

9 Months Ended

Sep. 30, 2011

Commitments and Contingent Liabilities [Abstract]

Commitments and Contingent Liabilities

(13) Commitments and Contingent Liabilities

At September 30, 2011, the Company had $6,710 of irrevocable letters of credit outstanding which primarily consisted of $3,000 for collateral associated with commodity hedges and $2,560 for compliance with the insurance reserve requirements of its workers’ compensation insurance carriers.

The Company is a defendant in several lawsuits arising from the operation of its business. These lawsuits are incidental and occur in the normal course of the Company’s business affairs. It is the opinion of management, based on current knowledge, that no uninsured liability will result from the outcome of this litigation that would have a material adverse effect on the consolidated results of operations, financial condition or cash flows of the Company.

During September 2011, the Company reached a final settlement with the United States Department of Commerce, U.S. Bureau of Industry and Security (“BIS”) in connection with alleged export compliance violations on shipments that occurred from 2005 to 2008. The settlement agreement provided for the payment of a civil penalty of $775, of which the Company had previously recorded $750 during the second quarter of 2011. The settlement agreement also requires the Company to complete a self-audit of its export controls compliance program over a one year period and submit the results to the BIS.