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FACILITIES RELOCATION AND RESTRUCTURING
3 Months Ended
Mar. 31, 2012
Facilities Relocation And Restructuring [Abstract]  
FACILITIES RELOCATION AND RESTRUCTURING

9.       FACILITIES RELOCATION AND RESTRUCTURING

2012 Restructuring Initiative

The Corporation focuses on being the low-cost provider of its products by reducing operating costs and implementing lean manufacturing initiatives, which have in part led to the involuntary termination of certain positions, consolidation of facilities, and product lines.

Motion Control Segment

During the first quarter of 2012, the Corporation initiated a restructuring plan within its Motion Control segment. The objective of this initiative was to streamline the segment's workflow by eliminating certain positions. The Corporation recorded charges of $2.5 million related to severance and benefit costs as part of this initiative. These costs were recorded in the Condensed Consolidated Statement of Earnings primarily affecting Cost of sales and General and administrative expenses for $1.7 million and $0.8 million, respectively. We expect to incur approximately $1 million of additional severance and benefit costs and $0.6 million of facility costs as part of this initiative during the remainder of 2012. As of March 31, 2012, approximately $1 million in payments have been made with the remaining payments expected to be made by December 31, 2012. We expect to generate annual cost savings of approximately $6 million as a result of this initiative.

Metal Treatment Segment

The Corporation is evaluating potential restructuring initiatives within its Metal Treatment segment to better position the business for long-term profitability. The initial estimates for these activities are approximately $12 million and would be expected to be completed by December 31, 2012.