date:Jul 27, 2012
operating margin decreased to 8.4%.
The decrease in income from operations was due to less favourable mix of products sold, volume declines in European markets due to economic weakness and $1.9m costs associated with the start-up of three production facilities in eastern Europe and one facility in the Middle East.
This was partially offset by charges in the second quarter of 2011 of $3.3m related to the resolution of a past product liability dispute.
Net sales of the closures business were