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Restructuring
3 Months Ended
Mar. 31, 2021
Restructuring And Related Activities [Abstract]  
Restructuring

5.  Restructuring

In March 2019, the Company committed to implementing a restructuring plan involving its Ameri-Kart Corp. subsidiary (“Ameri-Kart”) that operates a rotational molding business within the Material Handling Segment. The Company plans to consolidate manufacturing operations currently conducted at Ameri-Kart’s Cassopolis, Michigan and Bristol, Indiana facilities with expanded operations in a new facility in Bristol, Indiana (the “Ameri-Kart Plan”). In December 2019, as amended in March 2021, Ameri-Kart entered into a lease agreement for a newly constructed manufacturing and distribution facility in Bristol, Indiana. The building became substantially complete in March 2021 as defined in the lease agreement, and the 15-year finance lease of the new Bristol facility commenced. In connection with the lease agreement, Ameri-Kart agreed to sell its original Bristol facility for $3.0 million and lease it back for a period of 5 years. At March 31, 2021, this sale-leaseback transaction had not yet closed. At March 31, 2021 and December 31, 2020, the $1.9 million carrying value of the original Bristol facility was classified as held for sale and included in Other Assets pending closing of the sale transaction. While Ameri-Kart has taken possession of the new Bristol facility, construction remains in process as of March 31, 2021 to complete it for its intended use. In December 2020, Ameri-Kart also provided one-year advance notice of termination for the lease of its Cassopolis, Michigan facility.

The Ameri-Kart Plan is expected to be substantially completed in 2021 and total restructuring costs expected to be incurred are approximately $1.3 million, primarily related to equipment relocation and facility shut down costs. No restructuring charges were incurred during the quarters ended March 31, 2021 or 2020.