8-K Alert: Polypore Corporation To Idle Kentucky Plant

Item 2.05. Costs Associated with Exit or Disposal Activities.

The North American market for lead-acid battery separators has significant excess capacity and a highly consolidated customer base. To that end, on October 30, 2009, Polypore's Board of Directors approved the implementation of a restructuring plan in the fourth quarter of 2009 to better align lead-acid battery separator capacity with current and projected North American demand. The plan includes idling production capacity and reducing headcount at its manufacturing facility in Owensboro, Kentucky.

The current estimated cost of the plan is expected to be in the range of $24.0 million to $31.0 million, including estimated cash charges of $5.0 million to $8.0 million for severance and other costs and an estimated non-cash impairment charge of $19.0 million to $23.0 million for buildings and equipment. Polypore expects to implement the plan and record an estimated restructuring charge of $19.0 million to $24.0 million in the fourth quarter of 2009, with the remainder of the restructuring charges expected to be recognized over the next three years. Cash payments are expected to be paid over the next three years beginning in 2010.

The timing, scope and costs of these planned restructuring actions are subject to change as Polypore implements the plan and continues to evaluate its business needs and costs.