I found some code that imports a text file to the open workbook on MSKB:
Sub ImportTextFile()

Dim DestBook As Workbook, SourceBook As Workbook
Dim DestCell As Range
Dim RetVal As Boolean

' Turn off screen updating.
Application.ScreenUpdating = False

' Set object variables for the active book and active cell.
Set DestBook = ActiveWorkbook
Set DestCell = ActiveCell

' Show the Open dialog box.
RetVal = Application.Dialogs(xlDialogOpen).Show("*.txt")

' If Retval is false (Open dialog canceled), exit the procedure.
If RetVal = False Then Exit Sub

' Set an object variable for the workbook containing the text file.
Set SourceBook = ActiveWorkbook

' Copy the contents of the entire sheet containing the text
file. \
Range(Range("A1"), Range("A1").SpecialCells(xlLastCell)).Copy

' Activate the destination workbook and paste special the values
' from the text file.
DestBook.Activate
DestCell.PasteSpecial Paste:=xlValues

' Close the book containing the text file.
SourceBook.Close True

This works fine. I added some column headers and resized the columns by
adding this which I got from using the recorder:

Rows("1:1").Select
Selection.Insert Shift:=xlDown,
CopyOrigin:=xlFormatFromLeftOrAbove
Range("A1").Select
ActiveCell.FormulaR1C1 = "Item"
Range("B1").Select
ActiveCell.FormulaR1C1 = "Direct"
Range("C1").Select
ActiveCell.FormulaR1C1 = "C"
Range("D1").Select
ActiveCell.FormulaR1C1 = "Co"
Range("E1").Select
ActiveCell.FormulaR1C1 = "Description"
Range("F1").Select
ActiveCell.FormulaR1C1 = "UN"
Range("G1").Select
ActiveCell.FormulaR1C1 = "LYTD"
Range("H1").Select
ActiveCell.FormulaR1C1 = "YTD"
Range("I1").Select
ActiveCell.FormulaR1C1 = "MTD"
Range("J1").Select
ActiveCell.FormulaR1C1 = "M1"
Range("K1").Select
ActiveCell.FormulaR1C1 = "M2"
Range("L1").Select
ActiveCell.FormulaR1C1 = "M3"
Range("M1").Select
ActiveCell.FormulaR1C1 = "O/H"
Range("N1").Select
ActiveCell.FormulaR1C1 = "Min"
Range("O1").Select
ActiveCell.FormulaR1C1 = "Max"
Range("P1").Select
ActiveCell.FormulaR1C1 = "O/O"
Range("Q1").Select
ActiveCell.FormulaR1C1 = "Last Sold"
Range("R1").Select

'size columns
Cells.Columns.AutoFit

This part works OK too.

What I would like to do is include code below ( from the recorder) that
lays the file out. I think it should be inserted after the SetSoucerBook
= ActiveworkBook but I'm not sure. Also I know the first two line below
aren't correct. What would I put there to be able to make it work with
the above code?

My guess is that the code below could be written in a much shorted version.

The code from the recorder looks like this:

ChDir "C:\PrintOutput"
Workbooks.OpenText Filename:="C:\PrintOutput\report014.txt",
Origin:=437, _
StartRow:=1, DataType:=xlDelimited,
TextQualifier:=xlDoubleQuote, _
ConsecutiveDelimiter:=False, Tab:=False, Semicolon:=False,
Comma:=False _
, Space:=False, Other:=True, OtherChar:="|",
FieldInfo:=Array(Array(1, 2 _
), Array(2, 1), Array(3, 1), Array(4, 1), Array(5, 1),
Array(6, 1), Array(7, 1), Array(8, 1), _
Array(9, 1), Array(10, 1), Array(11, 1), Array(12, 1),
Array(13, 1), Array(14, 1), Array(15 _
, 1), Array(16, 1), Array(17, 1)), TrailingMinusNumbers:=True

Thanks for taking the time to look.

gls858