RESTRUCTURING INITIATIVE

9 Months Ended

Sep. 30, 2014

NOTE 16 – RESTRUCTURING INITIATIVE

In November 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 transferred and consolidated 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 was substantially complete. The cumulative expense incurred was $19.5 million. As of September 30, 2014 we have recorded the following activity associated with our European restructuring plan:

	Beginning		Net Charges for								Ending
	Reserve at		the Nine Months								Reserve at
	12/31/13		Ended 9/30/14		Cash Paid			FX Impact			9/30/14

Employee severance	$	2,521	$	--	$	(1,933	)	$	(158	)	$	430
Other costs	1,735		--		(1,568		)	(82		)	85
Totals	$	4,256	$	--	$	(3,501	)	$	(240	)	$	515

- 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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