INVACARE CORPORATION (NYSE:IVC) Files An 8-K Costs Associated with Exit or Disposal Activities
Item 2.05.
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Costs Associated with Exit or Disposal Activities.
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implemented the closure of its Suzhou, China, manufacturing
facility, which will include a reduction in workforce of
approximately 150 associates. The Company expects to incur
pre-tax cash restructuring charges in its North America/Home
Medical Equipment (HME) segment of approximately $3.0 million,
primarily relating to severance and transition assistance, that
will be accrued in the second quarter of 2017. The Company
expects cash payments to be made in the second quarter of 2017
through the fourth quarter of 2017. Once this closure is
completed, the Company expects that it will generate
approximately $4.0 million in annualized pre-tax savings in the
North America/HME segment.
the closure of its Suzhou, China, manufacturing facility, which
will include a reduction in workforce of approximately 150
associates. A copy of the press release is furnished as Exhibit
99.1 to this Current Report on Form 8-K.
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(d) Exhibits.
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Exhibit Number
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Description of Exhibit
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99.1
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Press Release, dated June 26, 2017.
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INVACARE CORP ExhibitEX-99.1 2 june2017exhibit.htm EXHIBIT 99.1 Exhibit Exhibit 99.1 NEWS RELEASECONTACT:Lara Mahoney 440-329-6393INVACARE CORPORATION ANNOUNCES CLOSURE OF CHINA MANUFACTURING FACILITY IN LINE WITH STRATEGIC TRANSFORMATIONELYRIA,…To view the full exhibit click here About INVACARE CORPORATION (NYSE:IVC)
Invacare Corporation is a manufacturer and distributor for medical equipment used in non-acute care settings. The Company’s geographical segments are Europe; North America, which includes North America/Home Medical Equipment (North America/HME) and Institutional Products Group (IPG) segments, and Asia/Pacific. The Company manufactures and distributes three product categories: mobility and seating, lifestyle and respiratory therapy. It provides medical device solutions for congenital (cerebral palsy, muscular dystrophy and spina bifida), acquired (stroke, spinal cord injury, traumatic brain injury, post-acute recovery and pressure ulcers) and degenerative (amyotrophic lateral sclerosis, multiple sclerosis, chronic obstructive pulmonary disease (COPD), elderly and bariatric) ailments. The Company sells its products to home medical equipment providers with retail and e-commerce channels, residential living operators, distributors and government health services.
