RESTRUCTURING INITIATIVES

12 Months Ended

Dec. 31, 2013

NOTE 19 RESTRUCTURING INITIATIVES

On November 1, 2012, the Company announced a plan to optimize certain capacity in Europe. Due to increased production efficiencies and to better position the Company for future growth in Europe, AptarGroup is transferring and consolidating production capacity involving twelve facilities. Two facilities have closed impacting approximately 170 employees. The locations involved in the plan are facilities serving the beauty, personal care, food, beverage, and consumer health care markets. As of December 31, 2013, the plan is substantially complete. The cumulative expense incurred is $19.5 million. As of December 31, 2013 we have recorded the following activity associated with our plan:

	Beginning Reserve at 12/31/12		Net Charges for the Year Ended 12/31/13		Cash Paid			FX Impact		Ending Reserve at 12/31/13


Employee severance	$	3,158	$	7,319	$	(8,037	)	$	81	$	2,521
Other costs		—		4,525		(2,848	)		58		1,735

Totals	$	3,158	$	11,844	$	(10,885	)	$	139	$	4,256

In addition to the above charges, $2.7 million of accelerated depreciation was incurred in 2013. This amount is included within depreciation and amortization in the Consolidated Statements of Income.

- 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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