Polypore (PPO) Agrees to Extend Current Labor Union Contract for Owensboro, KY Plant; Updates Impacts on EPS
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Polypore International, Inc. (NYSE: PPO) announced that the Company and the union at the Owensboro, Kentucky plant have agreed to an extension of the current labor contract for a period of 18 months through March 30, 2010. Employees began returning to work on September 30, marking the end of a strike that began on August 6.
Polypore estimates an EPS impact of about $0.10-$0.12 in 2H08 due to higher than anticipated strike-related expenses.
Additionally, the Company expects to incur ongoing legal expenses due to the recent administrative complaint issued by the U.S. FTC against Polypore in connection with its acquisition of Microporous Products L.P. in February 2008. As previously announced, the Company is vigorously defending its position. During 2H08, Polypore estimates an EPS impact of $0.02-$0.03 depending on the level of activity associated with this matter.
Polypore International, Inc., a technology filtration company, engages in the development, manufacture, and marketing of specialized microporous membranes used in separation and filtration processes.
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