December 12, 2017 5:08 PM ET

Machinery

Company Overview of CST Industries, Inc.

Company Overview

CST Industries, Inc. manufactures and constructs factory coated metal storage tanks, aluminum domes, and specialty covers. It offers silos and unloaders, and manure storage systems; aluminum space frames and specialty structures, including environmental enclosures, canopies, entranceways, atriums, domes, large and small span structures, and specialty lightweight structures; a line of tanks, flexible membrane covers, and reclaimer systems; dry bulk silos, and aluminum storage domes and vaults; fire protection water storage tanks for commercial, industrial, and municipal applications; liquid and dry process silos and storage tanks for critical frac processes; storage tanks, silos, and custom c...

903 East 104th Street

Suite #900

Kansas City, KS 64131

United States

Founded in 1893

Phone:

913-621-3700

Fax:

913-621-2145

Key Executives for CST Industries, Inc.

Chief Executive Officer and President
Chief Financial Officer
Chief Information Officer
Vice President of Human Resources
Vice President of Business Development
Compensation as of Fiscal Year 2017.

CST Industries, Inc. Key Developments

Amended DIP Financing Approved for CST Industries Holdings Inc.

The US Bankruptcy Court ordered authorizing the CST Industries Holdings Inc. to amend the DIP credit agreement on October 12, 2017. As per the amended agreement, the commitment termination date in the DIP Credit Agreement is extended from October 15 to mean December 22, 2017. The Exit Fee is increased from 2.0% to 2.5% if repayment occurs on or before December 13, 2017 or 3.0% if repayment occurs after December 13, 2017. The change in the Exit Fee represent increases of $0.08 million or $0.15 million, respectively. The payment milestone of the DIP credit agreement is extended from November 30, 2017 to December 22, 2017.

Notice for Bidding Procedures and Hearing Filed by CST Industries Holdings Inc.

CST Industries Holdings Inc. filed a notice bidding procedures and other hearing in the US Bankruptcy Court on October 10, 2017. As per the notice, the deadline to file an objection relating to the Stalking Horse Bidder or the Bid Protections is September 25, 2017. The deadline to submit a Qualified Bid is November 2, 2017. In the event that the debtor receives a qualified bid in addition to the Qualified Bid of the Stalking Horse Bidder, the auction will commence on November 7, 2017. The deadline for objections to the terms of a sale to a Successful Bidder other than the Stalking Horse Bidder or to the entry of an order approving the Sale Transaction is on November 10, 2017. The sale hearing will be held on November 14, 2017.

Bidding Procedure Approved for CST Industries Holdings Inc.

The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of substantially all assets of CST Industries Holdings Inc. on October 6, 2017. The Court approved the asset purchase agreement between the debtor and Solace Capital Partners L.P., the stalking horse bidder, for the sale of substantially all its assets for a purchase price of $92.9 million in cash and assumed liabilities pursuant to the asset purchase agreement dated September 11, 2017. To qualify as a qualified bidder, interested parties should submit their bids by November 2, 2017. The initial minimum overbid should be at least $0.3 million more than the initial purchase price, including cash price and assumed liabilities, plus break-up fees and expenses. Each qualified bidder must make a good faith deposit of 10% of the proposed purchase price. The debtor has scheduled an auction on November 7, 2017. At the auction, the subsequent bids would be in increments of $0.30 million. The stalking horse bidder would be entitled to a break-up fee of $2.79 million and expense reimbursement of $0.50 million in case of termination of the asset purchase agreement. The sale hearing is scheduled for November 14, 2017. The sale is expected to be completed by November 30, 2017.

Similar Private Companies By Industry

Company Name Region
+Vantage Corporation United States
101 Imports, Inc. United States
21st Century Energy, Inc. United States
360 Yield Center, LLC United States
3DEO, Inc. United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
\
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
The Advertising Council, Inc. United States
NYC2012, Inc. United States
Tax Management Inc United States
John F. Kennedy Center For The Performing Arts United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact CST Industries, Inc., please visit www.cstindustries.com. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.