Discontinued Operations

9 Months Ended

Sep. 30, 2014

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

The sale of substantially all of the assets of our Structural Products business in 2010 excluded the facility in Longview, Texas and its employees and manufacturing assets related to a significant customer contract. The customer contract was satisfied and operations concluded in August 2012. As a result of the cessation of all operations, the former Structural Products business has been presented as discontinued operations in the accompanying financial statements.

The loss from discontinued operations for the third quarter of 2014 results primarily from legal fees incurred in connection with a lawsuit brought by a major customer in 2012. The loss reported for the first nine months of 2014 also included the charge that resulted from final settlement of the claims presented by Metalsa in connection with its acquisition of substantially all of the assets of our Structural Products business and the related legal fees, exit costs incurred in connection with retained properties and legal fees related to the customer lawsuit. Discontinued operations for the nine months ended September 30, 2013 was the result of restructuring expenses related to ongoing maintenance of retained properties and legal fees, net of recoveries of prior costs.

The Longview facility was sold in March 2013 and a previously closed plant in Canada was sold in January 2014. The proceeds in both transactions approximated the carrying values of the facilities.