Libbey Inc. announced that in order to reduce costs and align manufacturing capacity with lower levels of projected demand, on August 16, 2020, the company committed to a plan to close its manufacturing facility in Shreveport, Louisiana. The company intends to cease production at the Shreveport manufacturing facility by the end of 2020, with full closure to be completed by the second half of 2022. The Company continues to bargain with the unions representing the Company’s employees regarding the effects of the facility closure. As a result of the plan, the Company expects to incur pre-tax cash charges of approximately $14.0 million, consisting of approximately $7.5 million in severance and other employee-related costs and approximately $6.5 million of other cash shutdown costs. Approximately $6.5 million of the severance and other employee-related costs are anticipated to be incurred in the fourth quarter of 2020, with the remaining pre-tax cash charges to be incurred throughout 2021 and 2022.