secwatch / observer
8-K filed October 2, 2023, 7:59 PM ET ticker DRTTF CIK 0001340476
other material confidence high sentiment negative materiality 0.50

DIRTT ENVIRONMENTAL SOLUTIONS LTD (DRTTF): restructuring charge — DIRTT permanently closes Rock Hill facility; expects $0.5M cash costs and $7-9M impairment.

DIRTT ENVIRONMENTAL SOLUTIONS LTD

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.95

DIRTT ENVIRONMENTAL SOLUTIONS LTD announced a restructuring with charges of The Company expects to incur $0.5 million of costs in dismantling and decommissioning assets at the Rock Hill facility and expects to sell or transfer the asset affecting Rock Hill, South Carolina manufacturing facility.

Type
restructuring
Charge
The Company expects to incur $0.5 million of costs in dismantling and decommissioning assets at the Rock Hill facility and expects to sell or transfer the asset
Affected area
Rock Hill, South Carolina manufacturing facility
Exact text from the filing
The Company expects to incur $0.5 million of costs in dismantling and decommissioning assets at the Rock Hill facility and expects to sell or transfer the assets to other DIRTT facilities.
View on SEC.gov
Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.95

DIRTT ENVIRONMENTAL SOLUTIONS LTD announced a restructuring with charges of One-time, non-cash accelerated depreciation / impairment charges related to Rock Hill facility equipment is expected to be in the range of $7 to $9 million. affecting Rock Hill, South Carolina manufacturing facility.

Type
restructuring
Charge
One-time, non-cash accelerated depreciation / impairment charges related to Rock Hill facility equipment is expected to be in the range of $7 to $9 million.
Affected area
Rock Hill, South Carolina manufacturing facility
Exact text from the filing
is pursuing a sublease arrangement. One-time, non-cash accelerated depreciation / impairment charges related to Rock Hill facility equipment is expected to be in the range of $7 to $9 million. The estimate of costs and charges that the Company expects to incur, and the timing thereof, are subject to a number of assumptions, and actual results may differ
View on SEC.gov

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DIRTT ENVIRONMENTAL SOLUTIONS LTD filing history →

Source: SEC EDGAR
accession 0000950170-23-051172
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