Attachment 1
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Report Update On |
5th January, 1999 |
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Report on |
PUMP DRIVES INC |
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Registered Office |
95 W Deere Road, Elkhorn, WI 53121, U.S.A. |
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Tel. No. |
414-723 2944 |
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Fax No. |
414-723 2785 |
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E-Mail |
-- |
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Telex |
-- |
Attachment 2
S U M M A R Y
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Incorporated |
1970 |
Status |
-- |
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Registration No. |
1p07662 |
Chief Executive |
Jerry Bost |
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Capital |
-- |
Payments |
Not known |
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Sales (USD) |
Estimated to be 1,740,000 – 2,150,000 |
Litigation |
-- |
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Net Worth |
-- |
Banking Reputation |
-- |
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No. of Employees |
20 estimated |
Auditors |
-- |
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Credit Rating |
B (See attachment 3) |
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------IDENTIFICATION--------------------------------------RATING----------
Company Name : PUMP DRIVES, INC.
Address : 95 W. Deere Road
Elkhorn, WI 53121
Telephone : 414 723-2944
Facsimile : 414 723-2785
------ANSWERS TO YOUR SPECIFIC
QUESTIONS------------------------
Please note the
correct legal name.
We believe, that for
the high amount of credit required (US 150,000), it may be advisable to obtain an
irrevocable letter of credit or some other form of bank guaranty.
As the Company
declined to release financial information we cannot provide a maximum credit
recommendation.
------EXECUTIVE
SUMMARY---------------------------------------------------
Legal Form : Corporation -
Private
Date Founded : 1970
Major Shareholder : CERTIFIED POWER
Employees : 20
Suits/Judgements/Liens : Exist
Highest Credit
Reported : Not Available
Person Contacted : Mr. Jim Hodis -
Controller / Parent Co.
------LEGAL--------------------------------------------------------------------------------
Legal Form : Corporation - Private
State of Incorporation : WI
Date of Incorporation : 07/16/70
Date of Founding : 1970
Status : Reinstated To Good
Standing As Of: 08/02/1989
Corporate Number : 1p07662
Registered Agent : C T Corporation System
44 E
Mifflin St
Madison, Wi 53703
The registered agent,
whether an individual or corporation, performs the functions associated with incorporating
the Company such as preparing the documentation required by the state. The registered agent also acts for the
Company in the function of accepting service of process, e.g, receiving any
legal communications affecting the Company and transmitting these to the
officers of the Company.
Annual-Report:
Current Report : 1998
Microfilm No : 980210691
The Secretary of the
State reported no name changes as of the date of this report.
Managers : Mr. Jerry Bost / President
Mr.
Jim Beierle / General Manager / PUMP DRIVES, INC.
Owners : CERTIFIED POWER . . . . . . .
. . . .100%
------RELATED
COMPANIES--------------------------------------------------------------
Parent Company : CERTIFIED POWER
Mudeleim, IL
Tel:
847 573-3800
The Company declined
to comment on the existence of any additional Related Companies.
The Company declined
to disclose any financial information pertaining to the Parent Company.
------HISTORY-----------------------------------------------------------------------------------
The Company did not
provide any information pertaining to its history or the background of its
officers.
------CURRENT
OPERATIONS-----------------------------------------------------------
NAICS Code : 333613
Primary SIC : 3568
Secondary SIC(s) : 3699
Business The
Company is a manufacturer and distributor of drive shafts for industrial
machinery and applications.
Total number of
employees 20 estimated.
Facility size unknown
The sole location is
at the above noted address.
------YEAR 2000
COMPLIANCE----------------------------------------------------------
1. Q: Whose responsibility is Year 2000 compliance?
A: The Company declined to identify the responsible party.
2. Q: When do you expect to be Year 2000 compliant?
A: The Company declined
to provide a time frame for when it expects to become Year 2000 compliant.
3. Q: Does your Company have a
budget, deemed sufficient, to make you Year 2000 compliant before 12/31/99?
A: The Company did not comment on this issue.
4. Q: Have you sought
information regarding Year 2000 compliance among your suppliers and your
customers?
A: The Company did not comment on this issue.
------FINANCIAL
FIGURES------------------------------------------------------------------
All figures are
reported in USD.
The Company would not
disclose any financial information when contacted.
From an industry
analysis of 7 companies in the same SIC code as the subject (3568), we have
estimated the sales of subject to be in the range $1,740,000 to $2,150,000.
------INDUSTRY
ANALYSIS-----------------------------------------------------------------
The following chart
compares the Subject Company to other companies within its industry (3568 -
POWER TRANSMISSION EQUIPMENT NEC) and within its size range (1-20 employees).
Industry Based on
Industry Subject's
Size Subject
Number of Companies: 57 7
Avg No of Employees: 232 17 20
Avg Sales (in '000): $28,381 $1,714 $N/A
Revenue per Employee $122,525 $102,564 $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--------------------------------------------------------------------------------------
BANK OF AMERICA
231 S. LaSalle Street
Chicago, IL
Tel: 312 828-2345
We have contacted the
bank which stated that an account number is required in order to release account information, however the
Company did not wish to release
that information.
------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-----------------------------------------------------------
*
We have sent a fax to
the Company for the names of the references as
requested, however we
have not received a response.
------PUBLIC
RECORD-------------------------------------------------------------------
We have found the
following public record filings against the Company; other filings may exist in
other court jurisdictions.
Judgments And Liens
State Of Wisconsin
Creditor : State Of Wisconsin
Amount : $ 1,364
Number : 6400168638
Type : State Tax Warrant Release
Entered : 08/28/1996
Released : 10/03/1996
A nationwide search of
bankruptcy courts revealed no record of a Company by this name filing for
bankruptcy.
Attachment 3
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SCORE SHEET |
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SCORE |
CREDIT 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 |
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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 |
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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 |
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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 |
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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 |