SUBSEQUENT EVENTS

Sale of AMK Technical Services

On October 1, 2014 DMC completed the sale of its AMK Technical Services business. The sales price was $6,750, subject to final purchase price adjustments, and was financed through $4,250 in cash consideration and the issuance of a $2,500 90-day secured promissory note to the Company. The excess of the selling price over the carrying value will be recorded in our Statement of Operations in the fourth quarter 2014. The operating results of AMK Technical Services have been classified as discontinued operations in all periods presented.

Operating results of the discontinued operations (formerly included in the Oilfield Products segment) for the three and nine months ended September 30, 2014 and 2013 are summarized as follows:



	Three months ended September 30,		Nine months ended September 30,
	2014	2013	2014		2013
Net sales	1,563	1,937	4,540		5,676

Income (loss) from operations	37	270	(76	)	553
Tax provision	17	14	1		80
Income (loss) from operations, net of tax	20	256	(77	)	473

The assets and liabilities of AMK Technical Services have been reflected in assets and liabilities held for sale in the Condensed Consolidated Balance Sheet as of September 30, 2014 and December 31, 2013 and are comprised of the following:



	September 30, 2014	December 31, 2013
Cash	167	19
Accounts receivable	818	930
Inventory	505	359
Prepaid expenses and other	58	6
Current deferred tax assets	27	67
Property, plant and equipment, net	4,436	4,801
Noncurrent deferred tax assets	—	117
Total assets	6,011	6,299

Accounts payable	148	101
Accrued expenses	59	63
Accrued employee compensation	208	254
Customer advances	6	6
Noncurrent deferred tax liabilities	300	402
Total liabilities	721	826

Purchase of Property and Restructuring Announcement

On October 23, 2014 we signed an agreement to purchase a $14,000 manufacturing facility in the Siegerland region of Germany. The facility will significantly enhance NobelClad’s manufacturing capabilities and its ability to serve customers throughout Europe, the Middle East and Africa. We expect the plant will be open by next year’s second quarter.

NobelClad's European management has commenced discussions with local staff representatives and social partners to develop and implement a European consolidation plan, which we believe will generate annual after-tax savings of approximately $2,000. Restructuring charges, including social costs, equipment relocation, and other exit costs, are expected to range from $3,000 - $5,000.