MIRA
INFORM REPORT
|
Report Date : |
20th
June 2006 |
IDENTIFICATION
DETAILS
|
Name : |
ICC CHEMICAL CORPORATION |
|
|
|
|
Registered Office : |
460
Park Avenue, 7th Floor New
York, 10022 United States |
|
|
|
|
Country : |
United
States |
|
|
|
|
Date of Incorporation : |
1955 |
|
|
|
|
Legal Form : |
Corporation - Private |
|
|
|
|
Line of Business : |
Distributors and traders of specialty petro-chemicals, plastics and pharmaceuticals. |
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 |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
IDENTIFICATION & EXECUTIVE SUMMARY
Company
Name: ICC CHEMICAL CORPORATION
Address: 460
Park Avenue
7th Floor
City: NEW YORK
State/Province: NEW
YORK
Zip
Code: 10022
Country: UNITED
STATES
Telephone: 212
521-1700
Facsimile: 212
521-1950
Legal
Form: Corporation - Private
Founded
(D/M/Y): / /1955
Website: www.iccchem.com
As
of:
Sales
/ Revenue:
Net
Income:
Total
Equity:
Number
of Employees: 50
Business
Activity:
The
Company is a distributor and trader of specialty petro-chemicals, plastics and
pharmaceuticals.
NOTE TO CLIENT
Credit
Manager, Mr. Howard Newman provided very general information and the abruptly
terminated a telephone interview. The financial controller also declined to
provide any information regarding the subject company.
LEGAL
Legal
Form: Corporation - Private
Since
(D/M/Y): 08/05/1985
State/Province
of Incorporation: New York
Status:
ACTIVE
Previous
Legal Form:
Company
is NOT required to publish an annual financial report.
Legal
Name: ICC CHEMICAL CORPORATION
Initial
DOS Filing Date: MAY 08, 1985
County: NEW YORK
Jurisdiction: NEW YORK
Entity
Type: DOMESTIC BUSINESS CORPORATION
Current
Entity Status: ACTIVE
DOS
Process (Address to which DOS will mail process if accepted on behalf of the
entity)
ICC
CHEMICAL CORPORATION
460
PARK AVE
NEW
YORK, NEW YORK 10022
Registered
Agent NONE
Managers/Key Personnel
Mr.
John Farber Chairman Of The Board Of Directors
Mr.
William Brunger President & Chief Executive Officer
Mr.
James Muller Vice President - Finance
Mr.
Susan Aibinder Treasurer
AFFILIATED ENTITIES
No
Subsidiaries or Divisions.
As
noted, the ultimate parent company is ICC Industries Inc. which reported many
affiliate companies, including:
-J.M.
Shipping & Trading
-ICC
Chemical SRO
-Interlube
S.L.
-ICC
Handels AG
-Fallek
Chemical
-Prior
Chemical
-Rossi
Comercial Imp. Exp. Ltda.
-ICC
(Hong Kong) Ltd.
-ICC
Italia S.R.L.
-FALLEK
CHEMICAL COMPANY
-PRIOR
CHEMICAL CORPORATIO
-PRIOR
ENERGY CORPORATION
-ICC
ISREAL CHEMICALS LTD.
Parent Companies
Ultimate
Parent: ICC INDUSTRIES INC.
460 Park Avenue
NEW YORK NY10019
UNITED STATES
The
Company declined to disclose any financial information pertaining to the Parent
Company.
The
Parent company is a manufacturer of chemicals, plastics and pharmaceuticals.
BANKS
State
Bank of India
460
Park Ave # 2
New
York NY 10022
Telephone:
(212) 521-3200
Facsimile:
Account
Number:
Account
Manager:
Requires
an account number which was declined.
PAYMENT HISTORY
BUSINESS DATE LAST PAYMENT CREDIT BALANCE CUR 1- 31- 61-
CATEGORY REPTD SALE TERMS $
$ % 30
60 90 91+ COMMENTS
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
AIR TRANS 05-12 00-00 NET 30
100 0 0
0 0 0 0 CUST
2 YR
COMPUTERS 06-04 05-12 0000000 600
0 0 0
0 0 0
FACTOR 06-03 05-11 NET
1900 0 0
0 0 0 0 CUST
6 YR
FRGHT FWRD 06-04 99-01 NET 30 0
0 0 0
0 0 0
OIL REFNG 05-12 00-00 UNK
962700 879500 100 0
0 0 0
SAFTY PROD 06-03 00-00 NET 30 600
0 0 0
0 0 0 CUST 2 YR
COMPUTERS 05-05 00-00 CREDIT 0 0 0 0 0
0 0 CUST 37 YR
MANUFCTRNG 03-05 02-04 VARIED 27700
27700 0 0
0 0 100
TRANSPORTN 05-07 00-00 NET 15 0
0 0 0
0 0 0 ACCTCLOSED
CURRENT QUARTER 965900 879500
100 0 0 0
0
Payment Trends
INDUSTRY
BUSINESS BALANCE CUR 1-
31- 61-
DATE CUR DBT DBT $ % 30
60 90 91+
-------- --- --- --- -------- --- --- --- --- ---
20060400 0 7 0
879500 100 0 0
0 0
20060300 0 7 0 879500 100 0 0
0 0
20060200 0 7 0 880400 100 0 0
0 0
20060100 0 6 0 880100 100 0 0
0 0
20051200 0 7 0 0 0 0
0 0 0
20051100 0 6 0 0 0 0
0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1-
31- 61-
QUARTER
YEAR DBT $ % 30 60
90 91+
-------- ------ --- -------- --- --- --- --- ---
First
2006 0 0 0 0 0
0 0
Fourth
2005 0 0 0 0 0
0 0
Third
2005 0 0 0 0 0
0 0
Second
2005 8 1300 74 11 15
0 0
First
2005 0 600 100 0 0 0
0
FINANCIAL INFORMATION
No
financial figures regarding the subject company could be obtained at the time
of this report.
HISTORY
The
Company was founded by Dr. John Farber, who currently holds the office of
Chairman of the Board.
Dr.
John Farber, Chairman of the Board, received an undergraduate degree from the
University of Cluj in Romania. He continued
his education at the
the
University of Cluj in Romania where he received a masters degree. He then continued his education at the
Polytechnic Institute where he received his doctorate.
The
Company states that it has been involved with trading chemicals, plastics and
pharmaceuticals throughout the world for approximately 50 years.
In
November, 1998 " Forbes Magazine"
listed the ultimate parent company, ICC INDUSTRIES, INC. number 173
among the 500 privately owned company's in theUni States.
CURRENT OPERATIONS
NAICS
Code: 42269
Other Chemical and Allied Products Wholesalers
SIC
Code: 5169
Number
of Employees: 50
Business
Activity:
The
Company isa distributor and trader of specialty petro-chemicals, plastics and pharmaceuticals.
The
products offered by ICC CHEMICAL CORPORATION include items such as; Acetone,
Adipic Acid, Benzyl Alcohol, Caprolactam, Itaconic Acid, MDI, Methyl Ethyl
Ketone, N-Butanol (NBA), Fumaric Acid, Hexylene Glycol, Isophorone, Pine Oil,
TDI and Titanium Dioxide.
It
also offers the chemical and plastic products for delivery in trucks, railcars,
isocontainers, drums and other packaged forms as requested by the customer.
The
Subject sells internationally to wholesalers, manufacturers and other trading
companies. The headquarters, is at the above-noted address. The facility is
reported to be 13,000 square feet. The Company also has offices in New York,
New York; Houston, Texas; and Chicago, Illinois. In addition to the office locations, on occasion the Company will
utilize public warehouse space as needed. The Company also has affiliated
regional representatives in Argentina, Brazil, Germany, India, Korea, Poland,
Spain, Taiwan and Turkey.
There
are several independent sales representatives, located in Chicago and Houston,
as well as various other cities across the United States, well as
internationally.
PUBLIC RECORD
No
liens, judgments or bankruptcy filings were found:
Name
Searched: ICC CHEMICAL CORP
Debtor
Address: ICC CHEMICAL CORPORATION
460
PARK AVENUE
NEW
YORK, NY 10022
Secured
Parties: BROWN BROTHERS HARRIMAN &
CO.
Filing
Date: 9/24/2001
Filing
Number: 01181606
Filing
Type: INITIAL FILING
--------------------------------------------------------------------------------
Name
Searched: ICC CHEMICAL CORP
Debtor
Address: ICC CHEMICAL CORP
460
PARK AVENUE
NEW
YORK, NY 10022
Secured
Parties: THE DEVELOPMENT BANK OF SINGAPORE, LOS ANGELES AGENCY
Filing
Date: 1/15/2003
Filing
Number: 0301150107576
Filing
Type: INITIAL FILING
--------------------------------------------------------------------------------
Name
Searched: ICC CHEMICAL CORP
Debtor
Address: ICC CHEMICAL CORPORATION
460
PARK AVENUE
NEW
YORK, NY 10038
Secured
Parties: STANDARD CHARTERED BANK
Filing
Date: 5/2/2003
Filing
Number: 0305020926117
Filing
Type: INITIAL FILING
--------------------------------------------------------------------------------
Name
Searched: ICC CHEMICAL CORP
Debtor
Address: ICC CHEMICAL CORPORATION
460
PARK AVENUE
NEW
YORK, NY 10022
Secured
Parties: BROWN BROTHERS HARRIMAN &
CO.
Filing
Date: 9/27/2001
Filing
Number: 01184770
Filing
Type: INITIAL FILING
--------------------------------------------------------------------------------
Name
Searched: ICC CHEMICAL CORP
Debtor
Address: ICC CHEMICAL CORPORATION
460
PARK AVENUE
NEW
YORK, NY 10022
ICC
TRADING INCORPORATED
460
PARK AVENUE
NEW
YORK, NY 10022
ICC
INDUSTRIES INCORPORATED
460
PARK AVENUE
NEW
YORK, NY 10022
Secured
Part
Filing
Date: 11/20/2002
Filing
Number: 0211202603621
Filing
Type: INITIAL FILING
--------------------------------------------------------------------------------
Name
Searched: ICC CHEMICAL CORP
Debtor
Address: ICC CHEMICAL CORPORATION
460
PARK AVENUE
NEW
YORK, NY 10038
Secured
Parties: STANDARD CHARTERED BANK
Filing
Date: 5/2/2003
Filing
Number: 0305020926066
Filing
Type: INITIAL FILING
GENERAL COMMENTS
ICC
CHEMICAL CORPORATION is well established with operations dating from 1985.
Payments appear to be made on time. The operation history is clear. The firm is
considered to be responsible for normal business transactions at this time.
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 |