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Commitments and Contingencies
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3 Months Ended |
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Jun. 30, 2011
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| Commitments and Contingencies [Abstract] | |
| COMMITMENTS AND CONTINGENCIES |
NOTE 13 —COMMITMENTS AND CONTINGENCIES:
The Company has been named as a defendant in certain lawsuits alleging personal injury from
exposure to asbestos contained in products made by the Company. The Company is a co-defendant with
numerous other defendants in these lawsuits and intends to vigorously defend itself against these
claims. The claims are similar to previous asbestos suits that named the Company as defendant,
which either were dismissed when it was shown that the Company had not supplied products to the
plaintiffs’ places of work or were settled for amounts below the expected defense costs. The
outcome of these lawsuits cannot be determined at this time.
From time to time in the ordinary course of business, the Company is subject to legal
proceedings and potential claims. At June 30, 2011, other than noted above, management was unaware
of any other material litigation matters.
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