Property, Plant and Equipment

6 Months Ended

Jun. 30, 2017

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

4. Property, Plant and Equipment

	June 30,			December 31,
	2017			2016
	($000's omitted)
Land	$	7		$	21
Buildings		10,138			10,422
Machinery, equipment and tooling		16,151			15,826
Construction in progress		335			77
		26,631			26,346
Less accumulated depreciation		(16,748	)		(16,409	)
	$	9,883		$	9,937

As previously disclosed, the Company through a wholly-owned subsidiary, entered into a contract to sell unused commercial real property in Franklinville, New York for approximately $180,000. The sale transaction closed on March 9, 2017 and the wholly-owned subsidiary recognized a de minimis loss on the sale.

Depreciation and amortization expense amounted to approximately $428,000 and $412,000 for the six months ended June 30, 2017 and 2016, respectively. Depreciation and amortization expense amounted to approximately $218,000 and $205,000 for the 3 months ended June 30, 2017 and 2016, respectively. The Company believes that it maintains property and casualty insurance in amounts adequate for the risk and nature of its assets and operations and which are generally customary in its industry.

As of June 30, 2017, there is approximately $335,000 ($77,000 – 2016) of construction in progress included in property, plant and equipment all of which is related to capital projects at the Advanced Technology Group (“ATG”). See Note 7, Commitments and Contingencies, for more information on anticipated capital expenditures.