ASCENT INDUSTRIES CO. 10-K

Item 2. Properties The Company operates the major plants and facilities listed below, all of which are in adequate condition for their current usage. All facilities throughout the Company are believed to be adequately insured. The buildings are of various types of construction including brick, steel, concrete, concrete block, and sheet metal. All have adequate transportation facilities for both raw materials and finished products. In September 2016, the Company sold its real estate properties previously owned in Tennessee, South Carolina, Texas and Ohio to Store Master Funding XII, LLC ("Store Funding") and concurrently leased back these real properties; see Note 11 to the consolidated financial statements included in Item 8 of this Form 10-K. On January 1, 2019, ASTI completed the American Stainless acquisition. In connection with the acquisition, the Company and Store Funding entered into a second Amended and Restated Master Lease, pursuant to which the Company will lease the properties purchased by Store Funding from American Stainless on January 1, 2019, for the remainder of the initial term of 20 years set forth in the Master Lease. A parcel of land in Mineral Ridge, OH used for inventory storage, the corporate headquarters located in Richmond, VA, and the former shared service center located in Spartanburg, SC continue to be leased by the Company from other parties. Location Principal Operations Building Square Feet Land Acres Munhall, PA Manufacturing stainless steel pipe 284,000 20.0 Bristol, TN Manufacturing stainless steel pipe 275,000 73.1 Cleveland, TN Chemical manufacturing and warehousing facilities 143,000 18.8 Fountain Inn, SC Chemical manufacturing and warehousing facilities 136,834 16.9 Andrews, TX Manufacturing liquid storage solutions and separation equipment 122,662 19.6 Troutman, NC Manufacturing ornamental stainless steel tube 106,657 26.5 Statesville, NC Manufacturing ornamental stainless steel tube 83,000 26.8 Houston, TX Cutting facility and storage yard for heavy walled pipe 29,821 10.0 Mineral Ridge, OH Cutting facility and storage yard for heavy walled pipe 12,000 12.0 Mineral Ridge, OH Storage yard for heavy walled pipe — 4.6 Richmond, VA Corporate headquarters 5,911 — Spartanburg, SC Former office space for corporate employees and shared service center (1) 4,858 — (1) Property leased by Company; office was closed in 2018 and all furniture and equipment have been removed. Item 3. Legal Proceedings For a discussion of legal proceedings, see Note 12 to the Consolidated Financial Statements included in Item 8 of this Form 10-K. Item 4. Mine Safety Disclosures Not applicable. 17 PART II