Item 2. Properties
Item 2. Properties
The following table provides the primary segment, location and general use of each of our principal properties that we own or lease at December 31, 2022.
Business Segment and Location Principal Use Owned/Leased
(Lease Expiration)
B&W Renewable segment
Copenhagen, Denmark Administrative office Leased (2023)
Esbjerg, Denmark Manufacturing facility / administrative office Owned
Vejen, Denmark Administrative office Leased (2023)
Freeport, Illinois Administrative office Leased (2026)
B&W Environmental segment
Paruzzaro, Italy Administrative offices Leased (2024)
Ding Xiang, Xin Zhou, Shan Xi, China Manufacturing facility Leased (2023)
B&W Thermal segment
Akron, Ohio Administrative offices Leased (2034)
Lancaster, Ohio Manufacturing facility Leased (2041)
Copley, Ohio Warehouse / service center Leased (2033)
Dumbarton, Scotland Manufacturing facility Owned
Guadalupe, NL, Mexico Manufacturing facility Leased (2024)
Cambridge, Ontario, Canada Administrative office / warehouse Leased (2024)
Dartmouth, Nova Scotia, Canada Manufacturing facility Leased (2024)
Port Coquitlam, BC Administrative office Leased (2023)
Tulsa, Oklahoma Administrative office Leased (2023)
Chanute, Kansas (1)
Manufacturing facility Owned
Chanute, Kansas Administrative office Leased (2023)
( 1) We owned our Chanute, Kansas facility outright until December 16, 2022 when we sold certain real property assets at this location for $8.4 million in proceeds and then simultaneously entered into a lease agreement with the buyer of the property resulting in a sale lease-back. The sale-leaseback is repayable over a 20 year term, with two renewal options of ten years each. Under the terms of the lease agreement, our initial basic rent is of approximately $0.7 million per year with annual increases of 2.25% throughout the life of the agreement.
We believe that our major properties are adequate for our present needs and, as supplemented by planned improvements and construction, expect them to remain adequate for the foreseeable future.
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Item 3. Legal Proceedings
For information regarding ongoing investigations and litigation, see Note 22 to the Consolidated Financial Statements included in Part II, Item 8 of this Annual Report, which we incorporate by reference into this Item.
Item 4. Mine Safety Disclosures.
Not Applicable.
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.