Restructuring Costs

3 Months Ended

Apr. 01, 2012

Restructuring and Related Activities [Abstract]

Restructuring Costs

Note 7.   Restructuring Costs

2007 Restructuring Program

    In the third quarter of 2007, as a result of a change in management and deteriorating financial performance, the Company conducted an in-depth review of all its operations and developed a new strategic focus. The Company initiated a plan to realign its business operations to improve profitability and increase shareholder value by exiting certain businesses and consolidating some product lines. The restructuring resulted in a total workforce reduction of approximately 250, which has been completed.

      A reconciliation of the restructuring liability for this program, as of April 1, 2012, is as follows:

(millions of dollars)	Balance as of December 31, 2011		Additional Provisions		Cash Expenditures				Balance as of April 1, 2012
Contract termination costs		0.8		--		(0.3	)		0.5
	$	0.8	$	--	$	(0.3	)	$	0.5

      Approximately $0.3 million in payments were made in the first quarter of 2012.  The remaining restructuring liability of $0.5 million will be funded from cash flows from operations in 2012 and 2013.

2009 Restructuring Program

      In the second quarter of 2009, the Company initiated a program to improve efficiencies through the consolidation of manufacturing operations and reduction of costs.

     The restructuring program reduced the workforce by approximately 200 employees worldwide.  This reduction in force relates to plant consolidations as well as a streamlining of the corporate and divisional management structures to operate more efficiently.  This program has been completed.

A reconciliation of the restructuring liability for this program, as of April 1, 2012, is as follows:

(millions of dollars)	Balance as of December 31, 2011		Additional Provisions		Cash Expenditures				Balance as of April 1, 2012
Severance and other employee benefits		0.1		--		(0.1	)		--
	$	0.1	$	--	$	(0.1	)	$	--

Other Restructuring

  In the fourth quarter of 2011, the Company recorded restructuring charges related to the shutdown of its Anjalankoski, Finland satellite facility in connection with the announced closure of the paper mill at that location.

  A reconciliation of other restructuring liabilities as of April 1, 2012, is as follows:

(millions of dollars)	Balance as of December 31, 2011		Additional Provisions	Cash Expenditures				Balance as of April 1, 2012
Severance and other employee benefits	$	0.5	$	$	(0.2	)	$	0.3
	$	0.5	$	$	(0.2	)	$	0.3

     Approximately $0.2 million in payments were made in the first quarter of 2012.  The remaining restructuring liability of $0.3 million will be funded from cash flows from operations in 2012.