MIRA INFORM REPORT
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Report Date : |
9th May 2006 |
IDENTIFICATION DETAILS
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Name : |
ICC CHEMICAL CORPORATION |
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Registered Office : |
460 Park Avenue, 7th Floor New York, 10022 United States |
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Date of Incorporation : |
1955 |
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Legal Form : |
Corporation - Private |
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Line of Business : |
Distributor and trader of specialty
petro-chemicals, plastics and pharmaceuticals. |
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 : |
Usually Correct |
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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 |
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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. |
Satisfactory |
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26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
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 |