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February 13, 2016 4:32 PM ET

Chemicals

Company Overview of GSE Holdings Inc.

Company Overview

GSE Holding, Inc. manufactures and markets engineered geosynthetic lining products for environmental protection and confinement applications worldwide. The company offers geomembranes, including GSE high density polyethylene, GSE textured liners, GSE White, GSE Leak Location Liner, and GSE High-Temperature Liner, which are synthetic polymeric lining materials used as barriers in geotechnical engineering applications; and drainage products, such as GSE HyperNet, and GSE Tri-Planar that provide transmission avenues for liquid and gas collection, and leak detection systems. It also provides geosynthetic clay liners comprising GSE GundSeal and GSE Bentoliner, which are installed as the bottom la...

19103 Gundle Road

Houston, TX 77073

United States

Founded in 1981

643 Employees

Phone:

281-443-8564

Key Executives for GSE Holdings Inc.

Chairman, Chief Executive Officer and President
Age: 63
Chief Financial Officer and Senior Vice President
Age: 45
Executive Vice President of Global Operations
Age: 52
President of International Division
Age: 55
Vice President of Engineering
Age: 52
Compensation as of Fiscal Year 2015.

GSE Holdings Inc. Key Developments

GSE Holdings Inc. Announces Management Changes

GSE Holdings Inc. announced that Robert Preston has been appointed the company's Chief Executive Officer and President. Mr. Preston will also join the company's Board of Directors as Chairman. Prior to joining GSE, Mr. Preston served as Chief Executive Officer of Davis-Standard, LLC. Mr. Preston succeeds Charles A. Sorrentino who will be retiring. Mr. Sorrentino was appointed GSE's Chief Executive Officer in 2013, after serving as the company's interim CEO.

GSE Holdings Inc. Files Form 15

GSE Holdings Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock under the Securities Exchange Act of 1934, as amended. The par value of the company's common stock was $0.01 per share.

Modified Reorganization Plan Approved for GSE Environmental, LLC

The US Bankruptcy Court approved the modified plan of reorganization of GSE Environmental, LLC on July 25, 2014. The debtor has filed its modified plan in the Court on July 23, 2014. As per the modified plan, allowed administrative claims, statutory fees, priority tax claims, other priority claims, DIP facility claims, professional compensation, other secured claims of $1.7 million, first lien loan claims. General unsecured claims of $1 million shall receive its pro rata share of the general unsecured claims recovery pool. Allowed intercompany interests and intercompany claims will be reinstated or cancelled and no distribution shall be made. Holders of section 510(b) claims and parent equity interests will receive no distribution as their claims have been cancelled. Allowed intercompany interests and intercompany claims will be reinstated. Administrative Claims will be allowed in an amount of $1 million, Priority Tax Claims will be allowed in an amount $1 million, DIP financing claims will be allowed in an amount of $41 million, qualified unsecured trade claims will be allowed in amount of $4.30 million and other secured claims will be allowed in an amount of $1.7 million. The plan will be funded by cash in hand and exit facility. The exit facility will be of $50 million. The revolving credit facility would initially bear interest at a rate equal to LIBOR plus 225 basis points or Base Rate plus 125 basis points. The debtor will issue new equity of the reorganized GSE Holding, Inc. to holders of first lien loan claims to settle their claims.

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