−Removed: The Company operates the major plants and facilities listed below, all of which are in adequate condition for their current usage.
−Removed: All facilities throughout the Company are believed to be adequately insured.
−Removed: The buildings are of various types of construction including brick, steel, concrete, concrete block, and sheet metal.
−Removed: All have adequate transportation facilities for both raw materials and finished products.
−Removed: 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;
−Removed: see Note 11 to the consolidated financial statements included in Item 8 of this Form 10-K.
−Removed: On January 1, 2019, ASTI completed the American Stainless acquisition.
−Removed: 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.
−Removed: 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.
−Removed: Location Principal Operations Building Square Feet Land Acres
+Added: The Company operates the major plants and facilities listed below, all of which are in adequate condition for their current usage and are able to accommodate our capacity needs for the immediate future.
+Added: Substantially all of the value of the Company's leased plants and facilities relate to the Master Lease with Store Master Funding XII, LLC (“Store”), an affiliate of Store Capital Corporation ("Store Capital") that was entered into in 2016 and amended in 2019 and 2020;
+Added: see Note 7 to the consolidated financial statements included in Item 8 of this Form 10-K for additional information on the Company's leases.
+Added: The following table sets forth certain information concerning our principal properties including which segment's products are supported out of each location:
+Added: Location Principal Operations
+Added: Acres Leased or Owned Metals Specialty Chemicals
Munhall, PA Manufacturing stainless steel pipe
+Added: 284,000 20.0 Leased ✔
Bristol, TN Manufacturing stainless steel pipe
−Removed: Cleveland, TN Chemical manufacturing and warehousing facilities 143,000 18.8
−Removed: Fountain Inn, SC Chemical manufacturing and warehousing facilities 136,834 16.9
−Removed: Andrews, TX Manufacturing liquid storage solutions and separation equipment 122,662 19.6
−Removed: Troutman, NC Manufacturing ornamental stainless steel tube 106,657 26.5
−Removed: Statesville, NC Manufacturing ornamental stainless steel tube 83,000 26.8
−Removed: Houston, TX Cutting facility and storage yard for heavy walled pipe 29,821 10.0
−Removed: Mineral Ridge, OH Cutting facility and storage yard for heavy walled pipe 12,000 12.0
−Removed: Mineral Ridge, OH Storage yard for heavy walled pipe — 4.6
−Removed: Richmond, VA Corporate headquarters
−Removed: Spartanburg, SC Former office space for corporate employees and shared service center (1)
−Removed: (1) Property leased by Company;
−Removed: office was closed in 2018 and all furniture and equipment have been removed.
+Added: 275,000 73.1 Leased ✔
+Added: Cleveland, TN Chemical manufacturing and warehousing 143,000 18.8 Leased ✔
+Added: Fountain Inn, SC Chemical manufacturing and warehousing 136,834 16.9 Leased ✔
+Added: Danville, VA Chemical manufacturing and warehousing 135,811 55.3 Owned ✔
+Added: Andrews, TX Liquid storage solutions and separation equipment 122,662 19.6 Leased ✔
+Added: Troutman, NC Manufacturing ornamental stainless steel tube 106,657 26.5 Leased ✔
+Added: Statesville, NC Manufacturing ornamental stainless steel tube 83,000 26.8 Leased ✔
+Added: Houston, TX Cutting facility and storage yard for heavy walled pipe 29,821 10.0 Leased ✔
+Added: Mineral Ridge, OH Cutting facility and storage yard for heavy walled pipe 12,000 12.0 Leased ✔
+Added: Mineral Ridge, OH Storage yard for heavy walled pipe — 4.6 Leased ✔
+Added: In addition to the facilities listed above, the Company leases from third parties the Company's executive office located in Richmond, Virginia and office space in Oak Brook, Illinois.
Legal Proceedings
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