Item 2. Properties
Item 2. PROPERTIES
Our principal properties include space for manufacturing products, designing and testing new developments or processes, and employee collaboration space. Our properties are generally aligned with our business segments; however, we manufacture the same products across our manufacturing facilities to efficiently utilize capacity and reduce costs. We consider all our properties to be both suitable and adequate to meet our requirements for the foreseeable future.
Our principal properties consist of the following:
Facilities Owned or Leased Square Footage Facility Activities
Brookings, SD, USA Owned 771,000 Corporate Headquarters, Manufacturing, Sales, Service
Redwood Falls, MN, USA Owned 151,000 Manufacturing, Sales, Service, Office
Ennistymon, Ireland Owned 62,000 Manufacturing, Sales, Service, Office
Sioux Falls, SD, USA Leased 296,000 Manufacturing, Sales, Service, Office
Shanghai, China Leased 157,000 Manufacturing, Sales, Service, Office
We have a $75.0 million senior credit facility (the "Credit Facility") consisting of a $60.0 million asset-based revolving credit facility (the "ABL") maturing on May 11, 2026 and a $15.0 million delayed draw loan (the "Delayed Draw Loan).
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Under the Credit Facility, we have encumbered substantially all of our owned real property for the benefit of the lenders thereunder. For additional information, see "Note 7. Financing Agreements" in the Notes to Consolidated Financial Statements included in this Form 10-K.
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