Subsequent Event

3 Months Ended

Mar. 31, 2018

Subsequent Events [Abstract]

Subsequent Event

Subsequent Events

Facility Consolidation

On April 24, 2018, we made the decision to relocate our Santa Fe Springs, California operations to the Company’s facilities in Carol Stream, Illinois and Bear, Delaware. We expect to incur restructuring expenses of approximately $2.0 million in connection with the closure and transfer of production capabilities to the Carol Stream facility. These costs include approximately $0.8 million in severance and retention expenses and $1.2 million of costs related to the relocation of equipment. The Company estimates that approximately $1.5 million and $0.5 million of the costs will be incurred in fiscal years 2018 and 2019, respectively.Completion of the transfer, and start-up of production at other Company facilities, is expected to require capital expenditures of approximately $1.2 million to $1.4 million.

Sale of Property

In February 2018, we signed an agreement for the sale of a building and one parcel of land for an aggregate sales price of $1.1 million. The assets were classified as held for sale with an aggregate net book value of approximately $0.5 million as of March 31, 2018. The sale transaction closed in April 2018.