
<PAGE>   1

                                                                      EXHIBIT 21


                           SUBSIDIARIES OF REGISTRANT*

<TABLE>
<CAPTION>
                  NAME                                      STATE OF INCORPORATION
                  ----                                      ----------------------
<S>                                                         <C>
Subsidiaries Incorporated in the United States:

     C/P Products Corp.....................................    Indiana

     United Sales and Warehouse of Texas, Inc. ............    Texas

Foreign Subsidiaries:

     The Coast Distribution System (Canada) Inc............     Quebec, Canada
</TABLE>

----------

*        In accordance with the descriptions set forth in Paragraph (b) of Item
         601 of Regulation S-K, there have been omitted those subsidiaries that,
         if considered in the aggregate as a single subsidiary, would not
         constitute a significant subsidiary as of December 31, 1998.

