MIRA
INFORM REPORT
|
Report Date : |
17th
June 2006 |
IDENTIFICATION
DETAILS
|
Name : |
GE WATER AND PROCESS TECHNOLOGIES |
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Registered Office : |
187
Danbury Road Wilton,
Connecticut 06897, United States |
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Country : |
United States |
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Date of Incorporation : |
16/03/2001 |
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Legal Form : |
Corporation - Private |
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Line of Business : |
Provider of global technologies and services
included aircraft engine, energy, oil and gas, rail and water process
technologies |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
IDENTIFICATION & EXECUTIVE SUMMARY
Company
Name: GE INFRASTRUCTURE, INC.
Trade
Name(s): GE WATER AND PROCESS TECHNOLOGIES
Address: 187
DANBURY ROAD
City: WILTON
State/Province: CONNECTICUT
Zip
Code: 06897
Country: UNITED
STATES
Telephone: 203-761-1900
Facsimile: 203-761-1924
Legal
Form: Corporation - Private
Website: www.geinfrastructure.com
@rating
Opinion:
As
of:
Sales
/ Revenue:
Net
Income:
Total
Equity:
Number
of Employees: 5,000
Business
Activity:
The
Company is a provider of global technologies and services included aircraft
engine, energy, oil and gas, rail and water process technologies.
NOTE TO CLIENT
NOTE::
LEGAL NAME: GE INFRASTRUCTURE, INC.
ORDERED
NAME: GE WATER AND PROCESS TECHNOLOGIES
THE
ORDERED NAME REPRESENTS A DIVISION OF THE SUBJECT. IT IS NOT A
SUBSIDIARY.
PLEASE
NOTE THAT THE ORDERED ADDRESS, 4636 SOMERTON ROAD, TREVOSE,
PENNSYLVANIA
IS A HEADQUARTERS FOR THE " GE WATER AND PROCESS
TECHNOLOGIES" DIVISION.
THE HEADING ADDRESS IS THE HEADQUARTERS FOR
GE
INFRASTRUCTURE INC..
Please
see imperatives for more information.
IMPERATIVES
In
researching the Subject, we found the phone system for the Subject only directs
people to the various business segments for the Company. We did contact the CFO of GE Water and
Process Technologies in Trevose, Pennsylvania (Tel: 215- 355-3300), however, he
declined to provide any information for this report.
We
could not reach any officers for this report.
No information in this report was confirmed by management.
A
fax was sent to the company controller at the fax number we obtained for the
Subject. If we receive a response, we
will amend the information in this report accordingly.
LEGAL
Legal
Form: Corporation - Private
Since
(D/M/Y): 16/03/2001
State/Province
of Incorporation: DE
Status:
ACTIVE
Previous
Legal Form:
Company
is NOT required to publish an annual financial report.
The
Company incorporated in Delaware under the following registration:
File
Number: 3369509
Incorporation
Date / Formation Date: 03/16/2001
Entity
Name: GE INFRASTRUCTURE, INC.
Entity
Kind: CORPORATION
Entity
Type: GENERAL
Residency:
DOMESTIC
State:
DE
REGISTERED
AGENT INFORMATION
Name:
THE CORPORATION TRUST COMPANY
Address:
CORPORATION TRUST CENTER 1209 ORANGE STREET
City:
WILMINGTON County: NEW CASTLE
State:
DE Postal Code: 19801
Phone:
(302)658-7581
------------------------------------------------
There
was no qualification for the Company with the state of Connecticut.
Managers/Key Personnel
Mr.
David Calhoun
President & CEO
AFFILIATED ENTITIES
The
following is a sample of affiliates of the Subject:
American
Silicones, Inc. Indiana
Amersham
Biosciences Holding AB United Kingdom
Amersham
plc United Kingdom
Bently
Nevada, LLC Delaware
Cardinal
Cogen, Inc. Delaware
Caribe
GE International of Puerto Rico, Inc. Puerto
Rico
Datex-Ohmeda,
Inc. Delaware
Everest
VIT, Inc. Delaware
GE
Aviation Service Operation Pte Ltd
Singapore
GE
Caledonian Limited
United Kingdom
GE
Canada Company
Canada
GE
Drives & Controls, Inc. Delaware
GE
Druck Holdings Limited United
Kingdom
GE
Energy Europe B.V.
Netherlands
GE
Energy Parts, Inc.
Delaware
GE
Energy Products France SNC
France
GE
Energy Services, Inc.
Delaware
GE
Engine Services - Dallas, LP
Delaware
GE
Engine Services Distribution, LLC
Delaware
GE
Engine Services UNC Holding I, Inc.
Delaware
GE
Engine Services, Inc.
Delaware
GE
Fanuc Automation Corporation Delaware
GE
Gas Turbines (Greenville) L.L.C.
Delaware
GE
Healthcare Finland Oy
Finland
GE
Hungary Co. Ltd.
Hungary
Parent Companies
Parent
Company: General Electric Corporation
3135
Easton Turnpike,
Fairfield CT 06828
UNITED
STATES
Telephone: 203-373-2211
The
following is selected stock price and financial statement informaiton for the
parent company, General Electric Company, which trades on the New York Stock
Exchange under the symbol GE.
As
of 6/16/2006 in US Dollars
Stock
Price: $ 34.11
52
Week High: $ 36.65
52
Week Low: $ 32.21
Shares
Outstanding: 10,398,400,000
Fiscal
Year End: 12/31/2005 in Thousands of US Dollars:
Net
Assets: $673,342,000
Net
Liabilities: $563,988,000
Net
Equity: $109,354,000
Net
Sales: $149,702,000
Net
Income: $ 16,353,000
The
following is a list of subsidiaries of the Subject
GE
Betz Pennsylvania
GE
Osmonics Minnesota
GE
Infrastructure Security Gladewater, TX
GE
Infrastructure Watertown, MA
GE
Ionics San Jose, CA
GE
Ionics Cuyahoga Falls, OH
GE
Water Phoenix, AZ
E-Cell
Corp. Guelph, Canada
Engineering
Design Group Inc. Washington, DC
GE
Energy Atlanta, GA
Bently
Nevada LLC Minden, NV
Bently
Nevada, Australia
Pty.
Ltd. Huntingwood,
Australia
Bently
Nevada Canada Ltd. Edmonton, Canada
Bently
Nevada Canada Ltd. Markham, Canada
Bently
Nevada France S.A.R.L. Nantes, France
Bently
Nevada (UK) Ltd. Warrington,
United Kingdom
GE
Energy Germany
Neu-Isenburg, Germany
GE
Energy Services Dallas, TX
GE
Network Solutions
Melbourne, FL
GE
Oil & Gas Rotoflow Gardena,
CA
General
Electric
Reconstruction
Industries Ponce, PR
Midwest
Electric Products Inc. Mankato, MN
GE
Canada Peterborough, Canada
GE
Energy Lachine, Canada
GE
Energy Freiburg, Germany
GE
Energy Europe BV Rheden,
Netherlands
GE
Hydropower AS
Sorumsand, Norway
GE
Power Systems
Melbourne, Australia
GE
Power Systems Auckland,
New Zealand
GE
Power Systems Madrid,
Spain
Nuovo
Pignone Holding S.p.a. Florence, Italy
Pignone
Espanola S.A. Barcelona,
Spain
GE
Transportation
-
Aircraft Engines Cincinnati, OH
GE
Engine Services, Inc.
Cincinnati, OH
GE
Aviation Materials LP Irving, TX
GE
Tri-Remanufacturing Terre
Haute, IN
Johnson
Technology Muskegon, MI
UNC
ARTEX Carrollton, TX
UNC
Accessory
Services-Florida Fort
Lauderdale, FL
Unison
Industries, LLC
Jacksonville, FL
GE
Aviation Service
Operation
Pte. Ltd. Singapore
GE
Transportation Rail Erie, PA
GE
Transportation Systems
Global
Signaling, LLC Grain Valley, MO
GE
Transportation Systems
Advanced
Communication
Systems Hingham,
MA
Product
Distribution Company Louisville, KY
Inovec
Inc. Eugene, OR
Saudi
American General Electric Riyadh,
Saudi Arabia
BANKS
CT
Telephone:
Facsimile:
Account
Number:
Account
Manager:
A
bank name could not be learned at this time.
PAYMENT HISTORY
BUSINESS DATE LAST PAYMENT CREDIT BALANCE CUR 1- 31- 61-
CATEGORY REPTD SALE TERMS $
$ % 30
60 90 91+ COMMENTS
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
BLDG MATRL 06-05 06-01 VARIED 200
0 0 0
0 0 0 ACCTCLOSED
CHEMICALS 06-04 06-03 VARIED
375100 150400 90
10 0 0 0
COMMUN SVC 06-05 06-05 NET 30 10900
5000 100 0 0
0 0
COMPUTERS 06-05 06-03 0000000 22700
5500 0 0
14 5 81
DP EQUIP 06-04 03-06 NET 30
0 0 0
0 0 0 0
ELEC MFG 06-05 00-00 VARIED
139500 500 0
0 0 100 0 CUST 8 YR
ENGINEERNG 06-03 03-09 NET 30 0
0 0 0
0 0 0
EQUIPMENT 06-04 00-00 NET 30
4000 0 0
0 0 0 0
FACTOR 06-05 05-02 NET 30
1400 0 0
0 0 0 0 CUST
2 YR
FACTOR 06-05 05-05 NET 30
800 0 0
0 0 0 0
FACTOR 06-05 06-04 NET
24700 24700 35
18 12 18 17 CUST
6 YR
FINCL SVCS 06-06 00-00 NET 20 18500
7800 13 31
19 1 36
FINCL SVCS 06-06 00-00 COD 152000
11000 0 13
0 25 62
FINCL SVCS 06-06 03-11 NET 30 4700
0 0 0
0 0 0
FINCL SVCS 06-05 05-06 NET 200
0 0 0
0 0 0 CUST 2 YR
FREIGHT 06-04 06-02 VARIED
166200 3700 26
32 0 3 39
FRGHT FWRD 06-06 06-01 VARIED 100
100 0 0
0 0 100
GENERAL 06-06 06-05 OTHER
500000 0 0
0 0 0 0 CUST
4 YR
INDUS SUPL 06-05 05-08 NET 30 43000
0 0 0
0 0 0 CUST 10 YR
MACH DISTR 06-04 05-08 1/10N30 900 0
0 0 0 0 0
CUST 1 YR
MANUFCTRNG 06-06 06-05 VARIED 26500
13000 83 0 0 17
0
MISC MANUF 06-05 00-00 VARIED 3700
0 0 0
0 0 0
OFFC SUPPL 06-04 06-03 NET 4700
1200 0 16
0 84 0 CUST 20 YR
PACKAGING 06-04 00-00 NET 30
2400 900 90
10 0 0 0 CUST 19 YR
PAINTS 06-06 06-04 VARIED
1400 900 100 0
0 0 0 CUST 1 YR
PETROLEUM 06-05 00-00 NET 30
700 600 0
0 1 0 99
RESTR SUPL 06-06 06-03 NET 30 2500
500 100 0 0
0 0 CUST 2 YR
RUBR& PLAST 06-03 06-01 VARIED 6900
3200 100 0 0
0 0
SAFTY PROD 06-03 00-00 NET 30 1800
0 0 0
0 0 0
SOAP 06-05 00-00 2/10N30 21500
5100 100 0 0
0 0
TRUCK DLR 06-06 00-00 CONTRCT 8000
600 24 0 0 25
51
AIR TRANS 05-09 05-05
2200 0 0
0 0 0 0
AIR TRANS 05-12 00-00 NET 30
4100 100 46
4 0 0 50 COLLECTION
BLDG MATRL 04-12 04-07 VARIED 1200
0 0 0
0 0 0
BUS SERVCS 04-09 04-08 NET 30 0
0 0 0
0 0 0
CHEMICALS 03-09 03-08 VARIOUS 100000
100000 100 0
0 0 0 7 DAYS LAT
COMPUTERS 05-05 00-00 CREDIT 0 0 0 0 0
0 0 CUST 37 YR
COMPUTERS 04-02 00-00 NET 30 0 0 0 0 0
0 0
COMPUTERS 05-07 00-00 NET 30
2900 300 0
0 100 0 0
CRED CARD 05-09 00-00 NET 0 0 0 0 0
0 0
ELEC DISTR 05-07 00-00 NET 30 100
100 0 0
100 0 0
ELEC EQUIP 05-06 05-06 CONTRCT 300 300
100 0 0 0
0
ELEC SUPLR 05-11 00-00 N10PRXO 0 0 0 0 0
0 0
FACTOR 05-05 02-10
0 0 0
0 0 0 0
INDUS MACH 04-09 00-00 COD 100
100 0 0
0 0 100
LEASING 04-10 04-09 N30
43100 16600 0
4 83 13 0
LEASING 04-10 00-00 VARIED
2985000 2690200 0 69 13 6
12
MISC MANUF 04-05 00-00 0000000
100000 0 0 0 0
0 0
MISC MANUF 05-11 00-00 VARIED 95500
38100 0 0
100 0 0
PACKAGING 06-01 04-07 NET 30
700 0 0
0 0 0 0
PAINTS 04-12 00-00 VARIED
1100 0 0 0
0 0 0
PLUMBING 04-05 04-03 NET 10
500 100 0
26 74 0 0
PRNTG& PUBL 04-09 04-09 3000 1800 100 0 0
0 0
TELECOM 05-07 04-10 NET 30
0 0 0
0 0 0 0 CUST 16 YR
TELECOM 05-07 04-11 NET 30
0 0 0
0 0 0 0 CUST
3 YR
TELECOM 05-07 05-06 NET 30
100 100 50
0 50 0 0 PAYS-SLOW
TELECOM 05-07 04-11 NET 30
0 0 0
0 0 0 0 CUST
3 YR
TELECOM 05-07 05-05 NET 30
700 700 100 0
0 0 0 EXLENT ACC
TELECOM 05-07 05-06 NET 30
400 400 50
0 50 0 0 PAYS-SLOW
TRANSPORTN 06-01 05-11 NET 10 0
0 0 0
0 0 0
TRANSPORTN 04-12 04-11 NET 30 2400
2400 0 100 0 0 0
TRANSPORTN 04-11 00-00 9400 9400 0 23
77 0 0
WHLSE TRAD 04-01 03-07 2/10N30 100 0
0 0 0 0 0
CURRENT QUARTER 1545000 234700
74 10 2 5 9
Payment Trends
INDUSTRY BUSINESS BALANCE CUR 1-
31- 61-
DATE CUR DBT DBT $ % 30
60 90 91+
-------- --- --- --- -------- --- --- --- --- ---
20060500 0 9 12 479600 74 13
5 2 6
20060400 0 9 14 473100 67 17
8 2 6
20060300 0 8 16 340700 59 26
4 5 6
20060200 0 6 8 784100 73 20
3 1 3
20060100 0 6 9 581800 71 21
2 3 3
20051200 0 5
11 606600 69
18 9 1 3
Payment History - Quarterly Averages
BALANCE
CUR 1- 31- 61-
QUARTER
YEAR DBT $ % 30 60
90 91+
-------- ------ --- -------- --- --- --- --- ---
First
2006 13 360900 65 21 6
3 5
Fourth
2005 11 584700 65 23 7
2 3
Third
2005 17 599400 58 23 8
4 7
Second
2005 11 358500 64 25 5 4 2
First
2005 17 492400 44 42 6
2 6
FINANCIAL INFORMATION
Due
to our inability to speak with an officer at the company, we could not obtain
financial statement information for the Subject, however, the subject is consolidated
within its parent, General Electric
Company.
If
we receive a fax response from the Subject, we will amend the report
accordingly.
CURRENT OPERATIONS
NAICS
Code: 339 Miscellaneous Manufacturing
NAICS
Code: 56199 All Other Support Services
Number
of Employees: 5,000
Business
Activity:
The
Company is a provider of global technologies and services included aircraft
engine, energy, oil and gas, rail and water process technologies.
The
Subject operates through the following business segments:
Air
Craft Engines
Energy
Production
Water
and Process Technologies
Oil
and Gas
Rail
Aviation
Financial Services
Energy
Financial Services
The
heading address is the headquarters for the Subject.
PUBLIC RECORD
A
search of public revealed no derogatory information, Uniform Commercial Codes,
or bankruptcy petitions.
GENERAL COMMENTS
The
Subject, incorporated in Delaware in 2001, is engaged as a manufacturer and
service provider of aircraft engines, water treatment technologies, energy production. The payment record is generally satisfactory
and the operating history is clear. No
derogatory information or bankruptcy petitions were
reported
or noted. The Company is responsible
for normal business transactions.
RATING EXPLANATIONS
|
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. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome financial
difficulties seems comparatively below average/normal. |
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 |