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CST Industries hopes bankruptcy will help it clean up its balance sheet and perhaps find more
iStock
Kansas City-based CST Industries Inc. filed a Chapter 11 bankruptcy petition to rightsize its balance sheet and potentially identify a new partner.
Founded in 1893, CST Industries (originally known as Columbian Steel Tank) is the largest manufacturer of steel tanks and covers in the world, with clients in agriculture, industrial liquids, oil and gas, water and wastewater, bioenergy and other markets. More than 350,000 of its tanks and 18,000 covers have been installed in 125 countries around the globe.
CST Industries hopes bankruptcy will help it clean up its balance sheet and perhaps find more
iStock
Beset with overwhelming debt, the company decided to file for bankruptcy to give it an opportunity to once again thrive. The company listed between $100 million and $500 million in assets and liabilities.
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