Attachment 1
|
Report
Update On |
10th May, 2001 |
|
|
|
|
Report on |
AMES TRUE TEMPER HARDWARE, INC. |
|
|
|
|
Registered Office |
465, Railroad Avenue, Box 8859, Camp Hill, PA 17011, U.S.A. |
|
|
|
|
Tel. No. |
717 737-1500 |
|
Fax No. |
717 730-2550 |
|
E-Mail |
|
|
Telex |
Attachment 2
SUMMARY
|
Incorporated |
1981 |
Status |
Satisfactory |
|
|
|
|
|
|
|
|
Registration No. |
2998778 |
Chief Executive |
Mr. John Stoner Jr. |
|
|
|
|
|
|
|
|
Capital |
|
Payments |
Regular |
|
|
|
|
|
|
|
|
Sales (US$) |
541,000,000 |
Litigation |
-- |
|
|
|
|
|
|
|
|
Net Worth |
|
Banking Reputation |
Satisfactory |
|
|
|
|
|
|
|
|
No. of Employees |
850 |
Auditors |
|
|
|
|
|
|
|
|
|
Credit Rating |
Ba (See attachment 3) |
|
||
IDENTIFICATION
|
Company Name |
AMES TRUE TEMPER HARDWARE, INC. |
|
|
|
|
Address |
465 Railroad Avenue, Box 8859, Camp Hill, PA 17011 |
|
|
|
|
Telephone |
717 737-1500 |
|
Facsimile |
717 730-2550 |
|
|
|
|
Company
Website |
www.truetemper.com |
|
Email Address |
via website |
ANSWERS TO YOUR SPECIFIC
QUESTIONS
Please note the Company's physical address.
Please note the correct location for the Subject.
EXECUTIVE SUMMARY
|
Legal Form |
Corporation – Private |
|
Date Founded |
1981 |
|
Major
Shareholder |
U. S. INDUSTRIES INC. |
|
Employees |
850 |
|
Highest Credit
Reported |
$ 126,500 |
|
Person Contacted |
Mr. Emery Sealy - Administrator |
LEGAL
|
Legal Form |
Corporation - Private |
|
|
|
|
State of
Incorporation |
DE |
|
Date of
Incorporation |
01/29/99 |
|
Date of
Founding |
1981 |
|
|
|
|
Status |
Active |
|
|
|
|
Deleware Corporate
File Number |
2998778 |
|
|
|
|
Registered
Agent |
The Corporation Trust Company 1209 Orange Street, Wilmington, DE 19801 |
Stock Authorized Issued Par Value
Class Shares Shares
Common 1000 Not Stated $0.01
The Company qualified to do business in the state of Pennsylvania on 02/26/99.
The Parent Company is traded on the NYSE under the symbol USI.
|
Managers |
Mr. John Stoner Jr. / President |
|
|
|
|
Owners |
U. S. INDUSTRIES INC. . . . . . . . . . . . . 100% |
RELATED COMPANIES
|
Parent Company |
U.S. INDUSTRIES, INC 101 Wood Avenue South, Iselin, NJ
08830 Tel: 732 767-0700 |
No Subsidiaries or Divisions
Financial figures for the Parent Company, U.S. INDUSTRIES, INC. appear below
(in 000,000's):
|
|
09/30/99 |
09/30/00 |
12/31/00 Q |
|
|
|
|
|
|
NET SALES |
$3,429 |
$3,088 |
$541 |
|
NET INCOME |
$241 |
$57 |
$-4 |
HISTORY
The Company has recently been bought by U.S. INDUSTRIES as of February 1999.The Company changed its name from TRUE TEMPER HARDWARE COMPANY INC. to the above in 10/00.
CURRENT OPERATIONS
|
NAICS Code |
333112 |
|
Primary SIC |
3524 |
|
|
|
|
Business |
The Company is a manufacturer of lawn and garden
tools and equipment.The Company manufactures brand names such as BULLDOG,
JACKSON, and NATURE CRAFT The Company distributes throughout the United
States. The Company also has a manufacturing plant in Ireland
which distributes throughout Europe. The Company makes non powered hand tools for lawn
and garden needs. |
|
|
|
|
Total number
of employees |
850 approx. |
|
|
|
|
Facility size |
unknown |
The headquarters, is at the above-noted address.
There are also manufacturing facilities in:
Harrisburg, PA
West Virginia
Ohio
FINANCIAL FIGURES
The financial year end is 09/30.
All figures are reported in USD.
The Company reported a profit for the past two years, but declined to disclose any additional financial information.
>From an industry analysis of 1 companies in the same SIC code as the subject (3524), we have estimated the sales of subject to be in the range $90,300,000 to $111,600,000.
When we called the Company we were told by Ms. Laurie Ackerman that the company has no revenue on hand. The Company stated that all of their accounting is handled by the parent company.
When we called Ms. Vivian Dusco the Treasurer of the U.S. INDUSTRIES she stated that the Subject Company has no cash on hand and all their money is in a lock box with the Parent Company. Therefore the Company declined to provide any financial statements.
The above information was provided during a previous inquiry. We were unable to speak with an officer that could confirm the above information or provide updated information.
INDUSTRY ANALYSIS
The following chart compares the Subject Company to other companies within its industry (3524 - LAWN & GARDEN EQUIPMENT) and within its size range (501-1000 employees).
|
|
|
Industry Based on |
|
|
|
Industry |
Subject's Size |
Subject |
|
|
|
|
|
|
Number of Companies |
29 |
1 |
|
|
Avg No of Employees |
435 |
800 |
850 |
|
Avg Sales (in '000) |
$73,786 |
$100,000 |
$N/A |
|
Revenue per Employee |
$169,556 |
$125,000 |
$N/A |
Please note that this industry analysis is based on businesses in the United States and is provided only as a comparison. In some cases, the subject's geographical location and variations from the Standard Industrial Classification codes (SIC) will affect the resulting figures.
BANK
FIRST NATIONAL BANK OF CHICAGO
Chicago, Il
Tel: 708 385-1818
|
Bank Rating |
Undisclosed |
When we contacted the bank they stated that the Company only keeps its money in a lock box and does not do any banking that they could make any comments on or recommendations.
PAYMENT HISTORY
Due to the Company's size and/or business activity, no significant trade experience and/or payment habits have been reported.
TRADE REFERENCES
|
LIBERTY STEEL PRODUCTS |
A.S.K. PLASTICS |
|
Jackson, OH |
Philadelphia, PA |
|
Tel: 330 538-2236 |
Tel: 215 969-0800 |
|
Fax: 330 538-2836 |
Fax: 215 969-0809 |
|
|
|
|
Contact : Credit |
Contact: Credit |
|
Customer Since: 1984 |
|
|
Credit Limit: Undisclosed |
|
|
Outstanding: $100,000+ curr. |
|
|
Terms: Undisclosed |
|
|
History: obtained rating in 1999* |
|
|
High Credit Utilized: $100,000+ |
We contacted and faxed the reference and followed up
via fax and telephone. To date we have not received a response. |
|
Date of Last Sale: 07/30/99 |
|
|
Average Days to Pay: 23 days |
|
|
Sold on Open Credit |
*
We have contacted and faxed a request but have not received a response.
PUBLIC RECORD
We have found no record of judgments or tax liens against the Company in the state of Pennsylvania.
The Secretary of State of Pennsylvania, Uniform Commercial Code Division (UCC) reports that the Company pledged certain assets as collateral in various filings.
Attachment 3
|
SCORE SHEET |
|
SCORE |
CREDIT RATING |
STATUS |
PROPOSED CREDIT LINE |
|
>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate
working capital. No caution needed for credit transaction. It has above average
(strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not
cause fatal effect. Satisfactory capability for payment of interest and principal
sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. Maybe drawn to
slightly difficult position as unfavourable conditions arise. Minimal assurance
for timely payment on interest and principal sums |
Moderate |
|
26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively limited or considered
not known. Capability to pay both interest and principal sums is doubtful |
Small |
|
11-25 |
Ca |
Adverse factors are
apparent. Repayment of interest and principal sums in default or expected to
be in default upon maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |
Attachment 4
ACKNOWLEDGEMENT
Dear Sir/Madam,
As part of our control
system, please fax/email us this note
upon receipt of this report. If we do not receive the acknowledgement within 24
hours, we will assume that our report meets your requirement. If you have any
suggestion to help us improve our reports and services, please do not hesitate
to let us know.
Thank you.
______________________________________________________________________________
To : MIRA INFORM PRIVATE
LIMITED
From :
To :
Feedback – Please tick
the appropriate box.
------------------------------------------------------------
|
|
GOOD |
FAIR |
POOR |
|
|
|
|
|
|
Content |
[
] |
[
] |
[
] |
|
Layout and
Presentation |
[
] |
[
] |
[
] |
|
Speed of Delivery |
[
] |
[
] |
[
] |
|
Overall Impression |
[
] |
[
] |
[
] |
Further Comments/Suggestion :
____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
_____________________________
Company’s Stamp &
Signature