these costs were reclassified in the 2014 Consolidated statement of Operations as “Restructuring Costs” as follows: $1,385,000 from Cost of sales, $82,000 from selling, General and Administrative expenses and $89,000 from Gain on sales of property, plant and equipment. the Company also incurred approximately $373,000 and $38,000, in related capital improvements at its Michigan and California facilities, respectively, for the year ended December 31, 2014. 

## (22) Subsequent events 

In January 2015, the Company acquired a 137,000 square foot commercial building on 27 acres in newburyport, Massachusetts for approximately $6.8 million. the Company anticipates that it will further expand the property and consolidate portions of its northeast operations into its new property in multiple phases between 2015 and 2017. It expects to incur further costs with the consolidation but also expects the efficiency savings to be significant. It has not yet estimated either the one-time costs or efficiency gains in a potential consolidation of operations. 

## Special note regarding Forward-Looking Statements 

some of the statements contained in this report are forward-looking statements within the meaning of section 27A of the securities Act of 1933 and section 21e of the securities exchange Act of 1934. these statements are subject to known and unknown risks, uncertainties, and other factors, which may cause our or our industry’s actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward- looking statements include, but are not limited to, statements about the Company’s prospects, anticipated trends in the different markets in which the Company competes, including the medical, automotive, consumer, electronics, industrial and aerospace and defense markets, anticipated advantages relating to the Company’s decisions to consolidate its Midwest, California and northeast facilities and the expected cost savings and efficiencies associated therewith, anticipated advantages of maintaining fewer, larger plants, anticipated advantages the Company expects to realize from its investments and capital expenditures, including the development of and investments in its molded fiber product lines, anticipated advantages the Company expects to realize as a result of its new enterprise resource planning software system and its new customer relationship management system, expectations regarding the manufacturing capacity and efficiencies of the Company’s new production equipment, statements about the Company’s acquisition opportunities and strategies, its participation and growth in multiple markets, its business opportunities, the Company’s growth potential and strategies for growth, anticipated revenues and the timing of such revenues, and any indication that the Company may be able to sustain or increase its sales or earnings. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation risks and uncertainties associated with plant closures and expected efficiencies from consolidating manufacturing, risks associated with the implementation of new production equipment in a timely, cost-efficient manner, risks that any benefits from such new equipment may be delayed or not fully realized, or that the Company may be unable to fully utilize its expected production capacity, and risks and uncertainties associated with the identification of suitable acquisition candidates and the successful, efficient execution of acquisition transactions and integration of any such acquisition candidates. Accordingly, actual results may differ materially. the forward-looking statements contained herein speak only of the Company’s expectations as of the date of this report. except as otherwise required by law, the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company’s expectations or any change in events, conditions, or circumstances on which any such statement is based. We qualify all of our forward-looking statements by these cautionary statements and those set forth in our other filings with the securities and exchange Commission, including those set forth under part I, Item 1A in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014. We caution you that these risks are not exhaustive. We operate in a continually changing business environment and new risks emerge from time to time. 

Unless the context requires otherwise, the terms “we”, “us”, “our”, or “the Company” refer to UFp technologies, Inc. and its consolidated subsidiaries. 

