MIRA INFORM REPORT
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Report Date : |
2nd May 2006 |
IDENTIFICATION DETAILS
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Name : |
CRC
EVANS PIPELINE INTERNATIONAL, INC |
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Registered Office : |
11601 North Houston Rosslyn
Road Houston, Texas 77086,
United States |
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Date of Incorporation : |
1933 |
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Legal Form : |
Corporation
- Private |
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Line of Business : |
Manufacturer
of equipment used in the pipeline construction industry |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: CRC
EVANS PIPELINE INTERNATIONAL, INC.
Trade Name(s): CRC-EVANS
Address: 11601
NORTH HOUSTON ROSSLYN ROAD
City: HOUSTON
State/Province: TEXAS
Zip Code: 77086
Country: UNITED
STATES
Telephone: 281-999-8920
Facsimile: 281-999-8724
Legal Form: Corporation
- Private
Website: www.crc-evans.com
Founded (D/M/Y): /
/1933
In KUSD As of:
31/12/2005
Sales / Revenue: 90,000
Net Income:
Total Equity: 37,547
Number of Employees: 700
Business Activity:
The Company is a manufacturer
of equipment used in the pipeline construction industry.
NOTE TO CLIENT
UPDATED 3/31/2006
PLEASE SEE FULL REPORT FOR
UPDATED INFORMATION
NOTE:: LEGAL NAME: CRC-EVANS PIPELINE INTERNATIONAL, INC.
ORDERED NAME: CRC EVANS
PIPELINE INTERNATIONAL INC.
Person Contacted: Mr. Greg Laake, CFO. Mr. Laake verified and updated the
information presented to him.
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 20/12/1996
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: 2697808
Incorporation Date /
Formation Date: 12/20/1996
Entity Name: CRC-EVANS
PIPELINE INTERNATIONAL, 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
----------------------------------------------------------------------
The Company qualified in
Texas under the following registration:
Company Information: CRC-EVANS PIPELINE INTERNATIONAL INC
11601 W HOUSTON ROSSLYN RD
HOUSTON, TX 77086-
Status: IN GOOD STANDING NOT
FOR DISSOLUTION OR WITHDRAWAL through May
15, 2006
Registered Agent: CT
CORPORATION SYSTEM
350 N. ST. PAUL
DALLAS, TX 75201
Registered Agent Resignation
Date:
State of Incorporation: DE
File Number: 0011496806
Charter/COA Date: April 25,
1997
Charter/COA Type: COA
Taxpayer Number: 17605291008
Managers/Key Personnel
Mr. Paul Evans President & CEO
Mr. Tim Carey Chairman Of The Board Of Directors
Mr. Mike Smith Chief Operating Officer
Mr. Greg Laake Chief Financial Officer
AFFILIATED ENTITIES
The Company has no known
affiliates.
The Subject is owned by a
private equity firm that Mr. Laake could not disclose
for this report.
The Company has the following
subsidiaries
CRC-Evans Weighting Systems,
Inc.
Pipeline Induction Heat Ltd.
CRC-Evans Welding Services
Inc.
SOMICO S.A.
CRC-Evans Canada Inc.
CRC-Evans B.V.
PIH Services ME Ltd.
PIH Kazakhstan Ltd.
BANKS
Bank of America
Houston TX
Telephone:
Facsimile:
Account Number: 004796157328
Account Manager:
A fax was sent to obtain bank
credit information, however, as of this update, we have not received a
response. Mr. Laake provided that his Company has a credit line of US$30
Million with Bank of America. US$18
Million is a revolving
credit line and US$12 Million
has 3-year credit terms.
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
1000 100 100 0
0 0 0 CUST 18 YR
BANK 06-02 06-02 CONTRCT 100000
1600 100 0 0
0 0 CUST 3 YR
CHEMICALS 06-02 00-00 NET 30
200 200 0
100 0 0 0
CHEMICALS 05-12 00-00 NET 30
100 100 0
0 100 0 0
COMPUTERS 06-03 00-00 UNK
400 0 0
0 0 0 0 CUST
1 YR
COMPUTERS 05-12 01-10 CREDIT
75000 0 0
0 0 0 0
ELEC DISTR 06-03 00-00 VARIED 0
0 0 0
0 0 0
ELEC EQUIP 06-02 00-00 NET 30 0
0 0 0
0 0 0
ELEC EQUIP 06-02 06-02 NET 30 1100
100 100 0 0
0 0 CUST 6 YR
EQUIPMENT 06-02 00-00 NET 30 143700 0
0 0 0 0 0
FACTOR 06-02 03-11 NET 30
0 0 0
0 0 0 0 CUST
4 YR
FACTOR 06-01 03-12 VARIED
400 0 0
0 0 0 0
FACTOR 06-03 05-10 NET 30
3800 0 0
0 0 0 0
GENERAL
06-02 00-00 NET 13500
0 0 0
0 0 0
INDUS MACH 06-02 00-00 NET 30 13500
0 0 0
0 0 0
INDUS SUPL 06-03 03-05 NET 30 700
0 0 0
0 0 0 CUST 8 YR
INDUS SUPL 06-03 02-11 NET 30 51100
0 0 0
0 0 0 CUST 5 YR
AIR TRANS 05-09 05-09 NET 30
2600 0 0
0 0 0 0
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
ELEC DISTR 03-07 03-07 NET 30 12300
900 55 0 0 45
0 CUST 14 YR
ELEC MFG 04-03 03-12 NET 30
3300 1900 100 0
0 0 0
ELEC SUPLR 04-07 00-00 NET30 5100
800 100 0 0
0 0
EQUIPMENT 03-11 00-00 CONTRCT 0
0 0 0 0 0 0
CUST 2 YR
FACTOR 04-06 00-00 NET 30
0 0 0
0 0 0 0
FASTNR MFG 05-09 05-03 COD 0
0 0 0
0 0 0
FRGHT FWRD 03-04 00-00 NET 30 1500
1500 100 0 0
0 0
GENERAL 03-04 00-00 VARIED 0 0 0
0 0 0 0 CUST
3 YR
INDUS MACH 04-12 00-00 NET 30 4400
600 0 100 0
0 0
LEASING 06-02 00-00 CONTRCT 200
100 100 0 0
0 0
OFFC EQUIP 03-04 01-08 NET 30 0
0 0 0
0 0 0 CUST 12 YR
SAFTY PROD 04-06 00-00 NET 30 0
0 0 0
0 0 0 CUST 6 YR
CURRENT QUARTER 404500 2100
84 11 5 0 0
Payment Trends
INDUSTRY BUSINESS
BALANCE CUR 1- 31- 61-
DATE CUR DBT DBT $ % 30
60 90 91+
-------- --- --- --- -------- --- --- --- --- ---
20060300 0 9 4 2100 84 11
5 0 0
20060200 0 9 0 101000 100 0 0
0 0
20060100 0 9 9 600 81 0
19 0 0
20051200 0 9 0 5300 100 0 0
0 0
20051100 0 11 0 8200 100 0 0
0 0
20051000 0 6 0 8000 100 0 0
0 0
Payment History - Quarterly Averages
BALANCE CUR 1-
31- 61-
QUARTER
YEAR DBT $ % 30 60
90 91+
-------- ------ --- -------- --- --- --- --- ---
Fourth
2005 0 4600 99 0 1
0 0
Third
2005 0 69700 100 0 0 0
0
Second
2005 2 800 85 15 0
0 0
First
2005 1 1300 94 6 0
0 0
Fourth
2004 5 61000 69 31
0 0 0
FINANCIAL INFORMATION
FINANCIAL FIGURES
Year-End (D/M/Y):
31/12/2005
31/12/2005 31/12/2005
Consolidated
Sales / Revenues
90,000 - -
ASSETS
Total Current Assets
65,533 - -
Total Fixed Assets
23,343 - -
Total Assets
88,876 - -
LIABILITIES
Total Current Liab
38,940 - -
Other Long Term Liab
12,389 - -
Total Long Term Liab
12,389 - -
Total Liabilities
51,329 - -
EQUITY
Total Equity
37,547 - -
FINANCIAL ANALYSIS
Actual Previous Percentage of total assets
31/12/2005 31/12/2005
31/12/2005 31/12/2005
Total Current Assets
65,533 0 73.74
73.74
Total Assets
88,876 0 100.00 100.00
Total Current Liab
38,940 0 43.81
43.81
Other Long Term Liab
12,389 0 13.94
13.94
Total Liabilities
51,329 0 57.75
57.75
Total Equity
37,547 0 42.25 42.25
The
above financial statement information is in Thousands of US Dollars.
CURRENT OPERATIONS
NAICS
Code: 3332 Industrial Machinery Manufacturing
Number
of Employees: 700
Business
Activity:
The
Company is a manufacturer of equipment used in the pipeline
construction
industry.
The
Subject is involved in virtually every aspect of pipeline construction. The
Company
manufacture equipment, sell and rent equipment, and subcontract pipeline
construction services.
The
heading address is the headquarters for the Subject. The facility consists
of
office, manufacturing, and warehouse space.
The
Company has branch offices in Tulsa, Oklahoma, Toms River, New Jersey,
Qatar,
Oman, and Norway.
PUBLIC RECORD
A search
of public revealed no derogatory information, Uniform
Commercial
Codes, or bankruptcy petitions.
GENERAL COMMENTS
The
Subject, incorporated in Delaware in 1996, is engaged as a manufacturer of
equipment used in the pipeline construction industry. 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.
IDENTIFICATION &
EXECUTIVE SUMMARY
|
Company Name |
CRC EVANS PIPELINE INTERNATIONAL, INC. |
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Trade Name(s) |
CRC-EVANS |
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Address |
11601 NORTH HOUSTON ROSSLYN ROAD |
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City |
HOUSTON |
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State/Province |
TEXAS |
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Zip Code |
77086 |
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Country |
UNITED STATES |
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Telephone |
281-999-8920 |
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Facsimile |
281-999-8724 |
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Legal Form |
Corporation - Private |
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Founded (D/M/Y) |
/
/1933 |
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In KUSD
As of |
31/12/2005 |
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Sales / Revenue |
90,000
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Net Income |
- |
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Total Equity |
- |
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Number of Employees |
700 |
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Website |
www.crc-evans.com |
|
Business Activity |
The Company is a manufacturer of
equipment used in the pipeline construction industry. |
NOTE TO CLIENT
NOTE:: LEGAL NAME: CRC-EVANS PIPELINE INTERNATIONAL, INC.
ORDERED NAME:
CRC EVANS PIPELINE INTERNATIONAL INC.
Person
Attempted Contact: Mr. Greg Laake,
CFO. We made several attempts to reach
Mr. Laake, however, we were unable to reach him. We left a message and sent a fax to verify
information for this report.
The receptionist did verify
the legal name and address for the Company.
Ownership of the Company
could not be determined.
No other information in this
report was confirmed by management.
LEGAL
Legal Form : Corporation -
Private
Since (D/M/Y) : 20/12/1996
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: 2697808
Incorporation Date /
Formation Date: 12/20/1996
Entity Name: CRC-EVANS
PIPELINE INTERNATIONAL, 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
----------------------------------------------------------------------
The Company qualified in
Texas under the following registration:
Company Information: CRC-EVANS PIPELINE INTERNATIONAL INC
11601 W HOUSTON ROSSLYN RD
HOUSTON, TX 77086-
Status: IN GOOD STANDING NOT
FOR DISSOLUTION OR WITHDRAWAL through May 15, 2006
Registered Agent: CT
CORPORATION SYSTEM
350 N. ST. PAUL
DALLAS, TX 75201
Registered Agent Resignation
Date:
State of Incorporation: DE
File Number: 0011496806
Charter/COA Date: April 25,
1997
Charter/COA Type: COA
Taxpayer Number: 17605291008
Managers/Key Personnel
Mr. Paul Evans President & CEO
Mr. Tim Carey Chairman Of The Board Of Directors
Mr. Mike Smith Chief Operating Officer
Mr. Greg Laake Chief Financial Officer
AFFILIATED ENTITIES
The Company has no known
affiliates or parents.
The Company has the following
subsidiaries
CRC-Evans Weighting Systems,
Inc.
Pipeline Induction Heat Ltd.
CRC-Evans Welding Services
Inc.
SOMICO S.A.
CRC-Evans Canada Inc.
CRC-Evans B.V.
PIH Services ME Ltd.
PIH Kazakhstan Ltd.
BANKS
TX
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
---------- ----- ----- ------- -------- -------- --- --- --- ---
--- --------
AIR TRANS 05-12 00-00 NET
30 1000 100 100 0 0
0 0 CUST 18 YR
BANK 06-02 06-02
CONTRCT 100000 1600 100 0
0 0 0 CUST 3 YR
CHEMICALS 06-02 00-00 NET
30 200 200 0 100 0
0 0
CHEMICALS 05-12 00-00 NET
30 100
100 0 0 100 0
0
COMPUTERS 06-03 00-00
UNK 400 0 0 0
0 0 0 CUST 1 YR
COMPUTERS 05-12 01-10
CREDIT 75000 0 0 0
0 0 0
ELEC DISTR 06-03 00-00 VARIED
0 0 0
0 0 0 0
ELEC EQUIP 06-02 00-00 NET 30
0 0 0
0 0 0 0
ELEC EQUIP 06-02 06-02 NET 30
1100 100 100 0
0 0 0 CUST 6 YR
EQUIPMENT 06-02 00-00 NET
30 143700 0 0 0
0 0 0
FACTOR 06-02 03-11 NET
30 0 0 0
0 0 0 0 CUST
4 YR
FACTOR 06-01 03-12
VARIED 400 0 0 0
0 0 0
FACTOR 06-03 05-10 NET
30 3800 0 0 0
0 0 0
GENERAL 06-02 00-00
NET 13500 0 0 0
0 0 0
INDUS MACH 06-02 00-00 NET 30
13500 0 0
0 0 0 0
INDUS SUPL 06-03 03-05 NET 30
700 0 0
0 0 0 0 CUST
8 YR
INDUS SUPL 06-03 02-11 NET 30
51100 0 0
0 0 0 0 CUST
5 YR
AIR TRANS 05-09 05-09 NET
30 2600 0 0
0 0 0 0
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
ELEC DISTR 03-07 03-07 NET 30
12300 900 55
0 0 45 0 CUST 14 YR
ELEC MFG 04-03 03-12 NET
30 3300 1900 100 0 0
0 0
ELEC SUPLR 04-07 00-00 NET30
5100 800 100 0
0 0 0
EQUIPMENT 03-11 00-00
CONTRCT 0 0 0
0 0 0 0 CUST
2 YR
FACTOR 04-06 00-00 NET
30 0 0 0 0
0 0 0
FASTNR MFG 05-09 05-03 COD
0 0 0
0 0 0 0
FRGHT FWRD 03-04 00-00 NET 30
1500 1500 100 0
0 0 0
GENERAL 03-04 00-00
VARIED 0 0 0 0
0 0 0 CUST 3 YR
INDUS MACH 04-12 00-00 NET 30
4400 600 0
100 0 0 0
LEASING 06-02 00-00
CONTRCT 200 100 100 0
0 0 0
OFFC EQUIP 03-04 01-08 NET 30
0 0 0
0 0 0 0 CUST 12 YR
SAFTY PROD 04-06 00-00 NET 30
0 0 0
0 0 0 0 CUST
6 YR
CURRENT QUARTER
404500 2100 84
11 5 0 0
Payment Trends
INDUSTRY
BUSINESS BALANCE CUR 1-
31- 61-
DATE CUR DBT
DBT $ %
30 60 90 91+
-------- --- ---
--- -------- --- --- ---
--- ---
20060300 0 9 4 2100 84
11 5 0 0
20060200 0 9 0 101000 100 0
0 0 0
20060100 0 9 9 600 81 0 19 0 0
20051200 0 9 0 5300 100 0
0 0 0
20051100 0 11 0 8200 100 0
0 0 0
20051000 0 6 0 8000 100 0
0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1-
31- 61-
QUARTER YEAR DBT $ % 30
60 90 91+
-------- ------
--- -------- --- --- ---
--- ---
Fourth 2005 0 4600 99
0 1 0 0
Third 2005 0 69700 100 0 0
0 0
Second 2005 2 800 85 15
0 0 0
First 2005 1 1300 94 6
0 0 0
Fourth 2004 5 61000 69
31 0 0 0
FINANCIAL INFORMATION
FINANCIAL FIGURES
Year-End (D/M/Y):
31/12/2005
31/12/2005 31/12/2005
Consolidated
Sales / Revenues
90,000 - -
If we receive a response to
our fax request from Mr. Laake, we will amend the report accordingly.
According to the Company's
website, the Subject has net sales of approximately US$90 Million, however, an
exact figure could not be confirmed directly with the Company.
CURRENT OPERATIONS
NAICS Code: 3332
Industrial Machinery Manufacturing
Number of Employees: 700
Business Activity:
The Company is a manufacturer
of equipment used in the pipeline construction industry.
The Subject is involved in
virtually every aspect of pipeline construction. The Company manufacture
equipment, sell and rent equipment, and subcontract pipeline construction
services.
The heading address is the
headquarters for the Subject. The
facility is believed to consist of office, manufacturing, and warehouse space.
The Company has branch
offices in Tulsa, Oklahoma, Toms River, New Jersey, and Dubai, United Arab
Emirates,
PUBLIC RECORD
A search of public records
revealed no derogatory information, Uniform Commercial Codes, or bankruptcy
petitions.
GENERAL COMMENTS
The Subject, incorporated in
Delaware in 1996, is engaged as a manufacturer of equipment used in the
pipeline construction industry. 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.
WEB DETAILS ATTACHED
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CRC-Evans is
involved in virtually every aspect of pipeline construction. We manufacture
equipment, sell and rent equipment, and subcontract pipeline construction
services. |
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CRC-Evans Pipeline Equipment |
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CRC-Evans builds the most complete line of pipeline construction
equipment in the world today. It ranges from pipe bending machines to
ditchpadding equipment, from pipe handling and support equipment to pipe
facing and beveling machines, and internal line up clamps, among many other
specialist items. |
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CRC-Evans Automatic Welding |
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We design and build the world’s most widely used automatic welding
systems for land and offshore pipeline construction. Our equipment line
includes single or dual torch welding systems, internal welding machines,
copper back up clamps, and precision pipe facing machine. |
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CRC-Evans Weighting Systems |
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CRC-Evans offers complete buoyancy control capabilities including
conventional concrete weights, saddle bag weights, form and machine applied
concrete coating, screw anchors and pipe mechanical protection coating. |
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PIH Field Joint Coating |
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PIH contract services include pipe surface preparation application of
all anti corrosion coating systems, thermal insulation and other specialty coatings.
Also offered is induction heating for pipeline welding and polyurethane
infill coating systems, and foam breaker systems. |
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PIH Services-Non Destructive Testing |
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The range of services available is manual and automated Ultrasonic
Scanning system including TOFD. Also, provided is Pipeline Weld Inspection
using Digital x-ray and gamma ray techniques in conjunction with battery
powered self-propelled crawlers. PIH Services also provides
various methods of testing including Digitisation of Radiographs, Automated
Ultrasonic Testing, Magnetic Particle Inspection, Penetrant Examination, Leak
Detection, and Hardness Testing. Also available is conventional heat
treatment equipment and services. |
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SOMICO- Pipeline Equipment and Services |
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SOMICO supplies pipeline construction equipment including crushing and
padding equipment. It also represents automatic welding equipment, field
joint coating and equipment in specific areas of the world. |
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In addition, our global
presence makes possible Total Project Support worldwide. It includes our
qualified engineering and support staffs, trained operating technicians,
on-site advisors, technical support and training programs, international
service teams and full spare parts inventory. Their truly worldwide support
infrastructure is unequaled in the industry. This combined with our
financially solid companies, it is your assurance that CRC-Evans is with you
from start to finish, including having CRC-Evans personnel at your project
site within 24 hours, anywhere in the world, should the need arrive. |
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CRC-Evans is the worldwide market leader in each
of its core businesses. CRC-Evans has over 14 offices and field offices
around the world, providing our customers with the most extensive support
infrastructure in the industry. |
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Since its founding in 1933, CRC-Evans has been an innovator in the
development of equipment to help contractors successfully build pipelines. |
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RATING EXPLANATIONS
RATING
|
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
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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 |
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<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |