Item 2.06 Material Impairments.
On July 17, 2009, EnPro Industries, Inc. (the "Company") concluded that the goodwill associated with its GGB Bearing Technology and Plastomer Technologies businesses has been impaired, largely because the businesses' near-term outlooks have been weakened by the deterioration of the global economic environment. As a result, the Company will take a pre-tax impairment charge of $113.1 million, or the full amount of goodwill associated with these businesses, in the second quarter of 2009. Of this amount, $108.7 million is associated with the acquisition of the Glacier metal polymer bearings business, prior to the Company's spin-off from Goodrich Corporation. The remaining $4.4 million is associated with the 2006 acquisition of Amicon Plastics. The impairment charge will not result in future cash expenditures. Item 8.01 Other Events.
On July 20, 2009, the Company issued a press release addressing the matters disclosed in Item 2.06 of this report, as well as a pre-tax gain of $19.2 million following the reduction of its estimated liability for retiree medical benefits associated with a previously owned business. The press release is filed as Exhibit 99.1 hereto and is incorporated herein by reference. Item 9.01 Exhibits.
Exhibit 99.1 - Press release of EnPro Industries, Inc. dated July 20, 2009

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