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Stock Market & Financial Investment News

News Breaks
February 27, 2014
09:08 EDTUFPTUFP Technologies reports Q4 EPS 47c, two estimates 42c
Reports Q4 revenue $35M, one estimate $36M.
News For UFPT From The Last 14 Days
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March 24, 2015
16:54 EDTUFPTUFP Technologies to incur $1.1M in expenses from consolidation
UFP Technologies disclosed in a filing that on March 18, UFP Technologies committed to move forward with a plan to cease operations at its Raritan, New Jersey plant and consolidate operations into its Newburyport, Massachusetts facility and other UFP facilities. The company expects the activities related to this consolidation to be completed on or before October 31. The company expects to incur approximately $1.1M in one-time expenses in connection with the consolidation. Included in this amount are approximately $360,000 of expenses the company expects to incur relating to employee severance payments and training costs, approximately $600,000 in moving expenses and expenses associated with vacating the Raritan property, and approximately $100,000 in lease termination costs. Total cash charges are estimated at $1M. The company expects annual cost savings of approximately $400,000 as a result of the plant consolidation.

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