Business Restructuring

9 Months Ended

Sep. 30, 2021

Restructuring And Related Activities [Abstract]

Business Restructuring

16. BUSINESS RESTRUCTURING

2018 Restructuring

During the third quarter of 2018, the Company approved a plan to shut down Surfactant operations at its German plant site. As of September 30, 2021, an aggregate of $2,392,000 shut down related expense has been recognized at the site. In the first quarter of 2020, the Company recognized $79,000 of decommissioning expenses at the site. The Company finalized shut down of Surfactant operations at the plant in 2020 and no more expenses associated with the restructuring are expected.

2016 Restructuring

During 2016, the Company shut down its Longford Mills, Ontario, Canada (Longford Mills) manufacturing facility, a part of the Surfactant reportable segment. The shutdown plan was implemented to improve the Company’s asset utilization in North America and to reduce the Company’s fixed cost base. Manufacturing operations of the Longford Mills plant ceased by the end of 2016, and production of goods manufactured at the facility was transferred to other Company North American production sites. Decommissioning of the assets is expected to continue throughout 2021. As of September 30, 2021, $8,884,000 of aggregate restructuring expense has been recognized, reflecting $1,644,000 of termination benefits for approximately 30 employees and $7,240,000 for other expenses, principally site decommissioning costs. The Company recognized $72,000 and $126,000 of decommissioning expenses in the third quarter of 2021 and 2020, respectively. The Company recognized $267,000 and $629,000 of decommissioning expenses in the first nine months of 2021 and 2020, respectively.