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OSTE » Topics » Item 2.06. Material Impairments

This excerpt taken from the OSTE 8-K filed Jan 6, 2005.

Item 2.06. Material Impairments

We also announced that we had determined on December 30, 2004, that certain of our assets associated with our original processing facility in Shrewsbury, New Jersey, were impaired because the facility and these related assets would no longer be used to process tissue. Included within the impaired assets is a viral inactivation system that was under development by us for our non-Grafton(R) DBM products, which system could not be efficiently implemented into our processing methods. Subject to review in the audit of our 2004 results, we expect to take a pre-tax charge of approximately $5.8 million in our fourth quarter ended December 31, 2004, which includes the cost of reinstating the facility to its former uses that will result in future cash expenditures of approximately $1.5 million. We estimate that the charge being taken in the fourth quarter of 2004 will result in savings of depreciation and amortization charges and operating costs of approximately $1.4 million in 2005.

"Item 2.06. Material Impairments" elsewhere:

West Pharmaceutical Services (WST)
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