Item 2. Properties
Item 2. Properties
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. 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 since amended, with the latest amendment occurring in 2025; 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.
The following table sets forth certain information concerning our principal properties including which products are supported out of each location:
Location Principal Operations
Square
Feet Land
Acres Leased or Owned
Fountain Inn, SC Chemical manufacturing and warehousing 136,834 16.9 Leased
Danville, VA Chemical manufacturing and warehousing 135,811 55.3 Owned
Cleveland, TN Chemical manufacturing and warehousing 122,800 18.8 Leased
The following table sets forth certain information concerning other properties under the Master Lease in which the Company is the responsible party:
Location Principal Operations
Square
Feet Land
Acres Leased or Owned
Andrews, TX 1
Liquid storage solutions and separation equipment 122,662 19.6 Leased
Houston, TX 1
Cutting facility and storage yard for heavy walled pipe 29,821 10.0 Leased
Mineral Ridge, OH 1
Cutting facility and storage yard for heavy walled pipe 12,000 12.0 Leased
1 Company currently subleases facility to a third party
In addition to the facilities listed above, the Company leases from a third party the Company's executive office located in Schaumburg, Illinois.
14
Table of Contents
Item 3. Legal Proceedings
For a discussion of legal proceedings, see Note 15 to the Consolidated Financial Statements included in Item 8 of this Form 10-K.
Item 4. Mine Safety Disclosures
Not applicable.
PART II
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.