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DMC Global To Record Charges Related To Closure Of DYNAenergetics Siberia

DMC Global Inc. (BOOM) said its Board has approved the plan to shut down and liquidate DYNAenergetics Siberia, a subsidiary in Russia. The company expects to record total non-cash charges of approximately $15 to $20 million, which includes non-cash impairment charge of approximately $6.0 to $7.0 million. Cash wind-down and severance costs are anticipated to be $2.0 to $2.5 million.

DMC Global has decided to to close production immediately at DYNAenergetics Siberia. The company targets to complete the liquidation during fiscal 2020.

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