Property, Plant and Equipment

6 Months Ended

Jun. 30, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

4. Property, Plant and Equipment

	June 30,			December 31,
	2019			2018
	($000's omitted)
Land	$	7		$	7
Buildings		10,563			10,452
Machinery, equipment and tooling		19,348			18,345
Construction in progress		1,490			1,258
		31,408			30,062
Less accumulated depreciation and amortization		(18,744	)		(18,187	)
Total property, plant and equipment	$	12,664		$	11,875

Depreciation and amortization expense amounted to approximately $289,000 and $244,000 for the three months ended June 30, 2019 and 2018, respectively. Amortization expense primarily related to ROU assets amounted to approximately $21,000 and $20,000 for the three months ended June 30, 2019 and 2018, respectively. Depreciation and amortization expense amounted to approximately $563,000 and $502,000 for the six months ended June 30, 2019 and 2018, respectively. Amortization expense, primarily related to ROU assets, amounted to approximately $41,000 and $37,000 for the six months ended June 30, 2019 and 2018, respectively. The Company 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, 2019, there is approximately $1,490,000 ($1,258,000 – December 31, 2018) of construction in progress (CIP) included in property, plant and equipment all of which is related to capital projects. There is approximately $683,000 in CIP for the implementation costs for the enterprise resource planning software that will be used as an integral part of the product process at the Advanced Technology Group (“ATG”) and the Consumer Products Group (“CPG”) put into service on July 5, 2019. In addition, there is approximately $392,000 primarily for IT equipment and software and the remainder of approximately $415,000 for machinery & equipment and self-constructed assets, not yet put into service.