RESTRUCTURING INITIATIVES

12 Months Ended

Dec. 31, 2012

NOTE 19 RESTRUCTURING INITIATIVES

On November 1, 2012, the Company announced a plan to optimize certain capacity in Europe (EOO). Due to increased production efficiencies and to better position the Company for future growth in Europe, AptarGroup will transfer and consolidate production capacity involving twelve facilities. Two facilities, one in Italy and one in Switzerland, are expected to close and will impact approximately 170 employees. The locations involved in the operations optimization plan are facilities that are serving the beauty, personal care, food, beverage, and consumer health care markets. The total costs associated with the plan are estimated to be approximately €14 million (approximately $19 million using current exchange rates) of which approximately €4 million (approximately $6 million using current exchange rates) relates to non-cash expenses and will be included in depreciation and amortization in the Consolidated Statements of Income. As of December 31, 2012 we have recorded the following activity associated with our EOO plan:

	Beginning Reserve at 12/31/11		Net Charges for the Year Ended 12/31/12		Cash Paid			FX Impact		Ending Reserve at 12/31/12


Employee severance	$	—	$	3,142	$	—		$	16	$	3,158
Other costs		—		172		(172	)		—		—

Totals	$	—	$	3,314	$	(172	)	$	16	$	3,158

In addition to the above charges, $1.6 million of accelerated depreciation was incurred in the fourth quarter of 2012. This, as well as future amounts, will be included within depreciation and amortization in the Consolidated Statements of Income.

In the second quarter of 2009, the Company announced a plan to consolidate two French dispensing closure manufacturing facilities and several sales offices in North America and Europe and has subsequently expanded the program to include additional headcount reductions. The total costs associated with this consolidation/severance program are $7.4 million. The plan has been substantially completed, subject to the settlement of remaining reserve balances.

As of December 31, 2012 we have recorded the following activity associated with our above consolidation/severance programs:

	Beginning Reserve at 12/31/11		Net Charges for the Year Ended 12/31/12			Cash Paid			FX Impact			Ending Reserve at 12/31/12


Employee severance	$	1,130	$	(247	)	$	(785	)	$	1		$	99
Other costs		17		35			(51	)		(1	)		—

Totals	$	1,147	$	(212	)	$	(836	)	$	—		$	99

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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