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8 million for the estimated costs associated with the voluntary early retirement incentive programs at the company's Sudbury operations, reflected a combination of weaker nickel markets and increased unit production costs at Inco's Canadian operations. The increase in operating expenses was predominantly due to $6,468,000 of curtailment and special termination benefit expenses associated with the aforementioned voluntary early retirement incentive program that extended through March 31, 2007 at the Company's NPTC subsidiary. As the first of several steps in the strategic realignment, GenCorp initiated a Voluntary Early Retirement Incentive Program in January for eligible employees at its Fairlawn headquarters office and at its Corporate Technology Center (CTC) in Akron. |
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