MIRA
INFORM REPORT
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Report Date : |
16th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
SPENCER
VENEER, LLC |
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Registered Office : |
270 General Woods Drive, Spencer , West Virginia 25276, United States |
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Country : |
United
States |
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Date of Incorporation : |
27/01/2000 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturer of soft and hard veneer lumber. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
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 :SPENCER
VENEER, LLC
Address :270 GENERAL
WOODS DRIVE
City :SPENCER
State/Province :WEST VIRGINIA
Zip
Code :25276
Country :UNITED
STATES
Telephone :304 927-5815
Facsimile :304
927-5825
Legal
Form :Limited
Liability Company
Website :www.gwv.com
@rating
Opinion :
Business
Activity :The Company
is a manufacturer of soft and hard veneer lumber.
Founded
(D/M/Y) : /
/2000
In
KUSD As of :31/12/2005
Sales
/ Revenue :13,000
Net
Income :- 500
Total
Equity :2,000
Number
of Employees :175
NOTE TO CLIENT
NOTE::
LEGAL NAME: SPENCER VENEER, LLC
Person
Contacted: Mr. Uli Heger,
Controller. Mr. Heger verified and
updated the information presented to him.
LEGAL
Legal
Form : Limited
Liability Company Since
(D/M/Y): 27/01/2000
State/Province
of Incorporation : WV
Status : INACTIVE
Previous
Legal Form:
Company
is NOT required to publish an annual financial report.
The
Company registered in West Virginia under the following registration:
Name : SPENCER VENEER, LLC
Type : LLC
Eff
Date : 1/27/2000
Ch
Type : D
Termination
Date : 8/3/2005
File
Date : 1/27/2000
Class : P
Please
note that it is not uncommon, nor necessarily detrimental to find an
incorporation status as terminated. This term may result from a failure to send
updated information to the Offices of the Secretary of State, or taxes that
have not been brought to current. The company may have outsourced these
responsibilities and may not be aware of the situation. A company can, most
certainly, still operate under these conditions. The status can be easily
reinstated to active once the problem is remedied.
Managers/Key Personnel
Mr.
Steven Elefant President
Mr.
Nathan Couch General Manager
Mr.
Uli Heger Controller
Ms.
Pauletta Longfellow Accounts Manager
AFFILIATED ENTITIES
The
following are affiliated entities:
BERNHARD
ISELI AG FURNIERE
Rue
de Morat 22
CH-1700
Fribourg, Switzerland
BOIS
TRANCHES S.A.
B.P.
20249 Zone Industrielle Owendo
Libreville,
Gabon
BUDAPEST
FURNÉR MÜVEK KFT.
1222
Budapest XXII, Haros U.7, Hungary
GENERAL
WOODS & VENEERS CONSULTANTS
INTERNATIONAL LTD.
General
Woods & Veneers Ltd.
1220
Marie Victorin Blvd.
Longueuil,
Québec, CANADA J4G 2H9
GENERAL
WOODS & VENEERS INC.
7709
Industry Avenue
Pico
Rivera, California 90660 USA
GENWOVE
U.S. LTD.
100
Plyler Road
Indian
Trail, North Carolina 28079
SWORDS
VENEER & LUMBER CO.
270
General Woods Drive
Spencer,
West Virginia 25276, USA
Parent Companies
Parent
Company: General Woods & Veneers
Ltd.
Longueuil
1220
Marie Victorin Blvd. PQ J4G 2H9
CANADA
Telephone : (450) 674-4957
The
Company has no subsidiaries.
BANKS
B
B & T
300
Summers Street
Charleston WV 25301
Telephone : 304-341-1043
Facsimile : 304-341-1037
Account
Number :
Account
Manager : Mr. Robert Boder
A
fax was sent to the bank for credit information.
PAYMENT HISTORY
BUSINESS DATE LAST
PAYMENT CREDIT BALANCE CUR 1-
31- 61-
CATEGORY REPTD SALE TERMS
$ $ %
30 60 90 91+ COMMENTS
---------- ----- ----- ------- -------- -------- --- --- --- ---
--- --------
COMMUN SVC 06-08 00-00 NET 20
0 0 0 0 0
0 0 WRITE-OFF
FINCL SVCS 06-10 06-09 CONTRCT 26400 18700 100 0 0
0 0 CUST 1 YR
FINCL SVCS 06-10 00-00 NET
0 0 0
0 0 0 0 CUST
2 YR
MACH DISTR 06-09 00-00 VARIED
100 0 0
0 0 0 0
PACKAGING 06-10 00-00 NET
30 100 0 0 0
0 0 0 CUST 1 YR
TEMP HELP 06-10 00-00 NET
10 0 0 0 0
0 0 0 CUST 6 YR
WAREHOUSE 06-10 98-04
VARIED 0 0 0 0
0 0 0 ACCTCLOSED
AIR TRANS 05-04 05-01 200 0 0 0
0 0 0
BLDG MATRL 04-09 04-07 VARIED
4500 4500 0
0 72 28 0
COMPUTERS 04-02 00-00 NET
30 0 0 0 0
0 0 0
ELEC MFG 04-03 03-01 NET
30 100 0 0 0 0 0 0
ELEC SUPLR 05-04 00-00 VARIED
0 0 0
0 0 0 0
GENERAL 05-02 04-10 NET
30 1700 1300 24 0
58 18 0 CUST 2 YR
INDUS SUPL 05-04 03-08 COD
7800 0 0
0 0 0 0 CUST
5 YR
LEASING 06-11 00-00 NET
30 1700 1100 50 50 0 0
0 CUST 1 YR
NEWSPAPERS 04-02 04-02 NET
0 0 0
0 0 0 0
PAINTS 05-01 04-11
1/10PRX 200 0 0
0 0 0 0 CUST
1 YR
SAFTY PROD 06-03 00-00 NET 30
400 400
100 0 0 0
0
TELECOM 05-06 00-00 NET
30 0 0 0 0
0 0 0
TRANSPORTN 04-11 00-00 VARIED
2400 0 0
0 0 0 0
TRANSPORTN 04-02 01-04 VARIED
0 0 0
0 0 0 0 CUST
4 YR
CURRENT QUARTER
26600 18700 100 0
0 0 0
Payment Trends
INDUSTRY
BUSINESS BALANCE CUR 1-
31- 61-
DATE CUR DBT
DBT $ %
30 60 90 91+
-------- --- ---
--- -------- --- --- ---
--- ---
20061000 0 7 0 19500 100 0
0 0 0
20060900 0 7 0 19500 100 0
0 0 0
20060800 0 8 1 20500 98
1 1 0 0
20060700 0 7
0 20400 100
0 0
0 0
20060600 0 7 0 20800 100 0
0 0 0
20060500 0 6 0 21600 100 0
0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER YEAR DBT $ % 30
60 90 91+
-------- ------
--- -------- --- --- ---
--- ---
Third 2006 0 19800 100 0 0
0 0
Second 2006 0
20900 100 0 0
0 0
First 2006 0 22100 100 0 0
0 0
Fourth 2005 0 12000 100 0 0
0 0
Third 2005 0 31600 100 0 0
0 0
FINANCIAL INFORMATION
FINANCIAL FIGURES
Year-End (D/M/Y):
31/12/2006
31/12/2005 31/12/2005
Projected Consolidated
Sales / Revenues
11,000 13,000 -
RESULTS
Net Income - -500
-
ASSETS
Total Current Assets -
5,200 -
Total Fixed Assets -
7,500 -
Total Assets - 12,700
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LIABILITIES
Total Current Liab -
7,000 -
Total Long Term Liab -
3,700 -
Total Liabilities -
10,700 -
EQUITY
Total Equity - 2,000
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FINANCIAL ANALYSIS
Actual Previous
Percentage of total assets
31/12/2005 31/12/ 31/12/2005
Total Current Assets
0 5,200 40.94
Total Assets
0 12,700 100.00
Total Current Liab
0 7,000 55.12
Total Liabilities
0 10,700 84.25
Total Equity
0 2,000 15.75
The
above information is listed in thousands of US Dollars.
CURRENT OPERATIONS
NAICS Code :
32121 Veneer, Plywood, and
Engineered Wood Product Manuf
Number of Employees : 175
Business Activity
The
Company is a manufacturer of soft and hard veneer lumber.
The
Company exports worldwide.
The
heading address is the sole location for the Subject. The facility consists of more than 100,000 square feet of office,
manufacturing, and warehouse space.
PUBLIC RECORD
A
search of public revealed the following information, and no bankruptcy
petitions.
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC.
270 INDUSTRIAL PARK ROAD PO BOX 85 SPENCER,
WV 25276
Secured
Parties : CECIL I.
WALKER MACHINERY CO.
Filing
Date : 8/29/2000
Filing
Number : 0546128
Filing
Type :
INITIAL FILING
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC
PO BOX 85 SPENCER, WV 25276
Secured
Parties : LYONS
SAWMILL & LOGGING EQUIPMENT
& SUPPLIES, INC.
Filing
Date :
8/7/2000
Filing
Number : 0544850
Filing
Type :
INITIAL FILING
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC
Secured
Parties : BRANCH
BANKING & TRUST COMPANY
Filing
Date :
7/16/2004
Filing
Number : 0547857
Filing
Type : PARTIAL
RELEASE
Original
Filing Number : 0547857
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER LLC
Secured
Parties : MID-OHIO
VALLEY REGIONAL PLANNING &
DEVELOPMENT
COUNCIL
Filing
Date :
3/22/2006
Filing
Number : 0556516
Filing
Type :
AMENDMENT
Original
Filing Number : 0556516
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC
Secured
Parties : BRANCH
BANKING & TRUST COMPANY
Filing
Date :
7/15/2004
Filing
Number : 0547857
Filing
Type :
PARTIAL RELEASE
Original
Filing Number : 0547857
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC
Secured
Parties : WV
ECONOMIC DEVELOPMENT AUTHORITY
Filing
Date :
12/19/2005
Filing
Number : 0553575
Filing
Type :
CONTINUATION
Original
Filing Number : 0553575
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC
270 INDUSTRIAL PARK RD.
SPENCER, WV 25276
Secured
Parties : ORIX
CREDIT ALLIANCE, INC.
Filing
Date :
6/27/2000
Filing
Number : 0542400
Filing
Type :
INITIAL FILING
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC
Secured
Parties : ORIX
CREDIT ALLIANCE, INC.
Filing
Date :
5/2/2005
Filing
Number : 0542400
Filing
Type :
CONTINUATION
Original
Filing Number : 0542400
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC
Secured
Parties : ORIX
CREDIT ALLIANCE, INC.
Filing
Date :
5/20/2005
Filing
Number : 0543668
Filing
Type :
CONTINUATION
Original
Filing Number : 0543668
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC
Secured
Parties : MID-OHIO
VALLEY REGIONAL PLANNING &
DEVELOPMENT
COUNCIL
Filing
Date :
8/29/2005
Filing
Number : 0548622
Filing
Type :
AMENDMENT
Original
Filing Number : 0548622
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC
Secured
Parties : MID-OHIO
VALLEY REGIONAL PLANNING &
DEVELOPMENT
COUNCIL
Filing
Date :
8/29/2005
Filing
Number : 0548622
Filing
Type :
CONTINUATION
Original
Filing Number : 0548622
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC
Secured
Parties : MID-OHIO
VALLEY REGIONAL PLANNING &
DEVELOPMENT
COUNCIL
Filing
Date :
8/29/2005
Filing
Number : 0548622
Filing
Type :
CONTINUATION
Original
Filing Number : 0548622
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC
270 INDUSTRIAL PARKWAY
SPENCER, WV 25276
Secured
Parties : ORIX
CREDIT ALLIANCE, INC.
Filing
Date :
7/18/2000
Filing
Number : 0543668
Filing
Type :
INITIAL FILING
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC 270 INDUSTRIAL PARK ROAD P. O. BOX 85
SPENCER, WV 25276
Secured
Parties : FIRST
NATIONAL BANK
Filing
Date :
7/10/2001
Filing
Number : 0563808
Filing
Type : AMENDMENT
Original
Filing Number : 0554575
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC
Secured
Parties : MID-OHIO
VALLEY REGIONAL PLANNING &
DEVELOPMENT
COUNCIL
Filing
Date :
8/29/2005
Filing
Number : 0548622
Filing
Type :
AMENDMENT
Original
Filing Number : 0548622
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC 270 INDUSTRIAL PARK ROAD POST
OFFICE BOX 85 SPENCER, WV 25276s
Secured
Parties : MID-OHIO
VALLEY REGIONAL PLANNING AND DEVELOPMENT
COUNCIL
Filing
Date :
10/12/2000
Filing
Number : 0548622
Filing
Type :
INITIAL FILING
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC 270 INDUSTRIAL PARK ROAD P. O. BOX 85
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC POST OFFICE BOX 85 SPENCER, WV
25276-0085
Secured
Parties : MID-OHIO
VALLEY AREA DEVELOPMENT CORPORATION
Filing
Date :
3/15/2001
Filing
Number : 0556516
Filing
Type :
INITIAL FILING
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER LLC
Secured
Parties : MID-OHIO
VALLEY REGIONAL PLANNING &
DEVELOPMENT
COUNCIL
Filing
Date :
3/22/2006
Filing
Number : 0556516
Filing
Type :
CONTINUATION
Original
Filing Number : 0556516
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC P. O. BOX 85 SPENCER, WV 25276
Secured
Parties : WEST
VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY
Filing
Date :
1/16/2001
Filing
Number : 0553575
Filing
Type :
INITIAL FILING
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC P O BOX 85 SPENCER, WV 25276
Secured
Parties : FIRST
NATIONAL BANK
Filing
Date :
6/15/2006
Filing
Number :
200600906406
Filing
Type :
INITIAL FILING
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER VENEER, LLC
POST OFFICE BOX 85 SPENCER, WV 25276-0085
Secured
Parties : MID-OHIO
VALLEY AREA DEVELOPMENT CORPORATION
Filing
Date :
3/15/2001
Filing
Number : 0556514
Filing
Type :
INITIAL FILING
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC
270 INDUSTRIAL PARK ROAD P. O. BOX 85
SPENCER, WV 25276
Secured
Parties : WEST
VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY
Filing
Date :
7/10/2001
Filing
Number : 0563810
Filing
Type :
AMENDMENT
Original
Filing Number : 0553575
Name
Searched : SPENCER
VENEER LLC
Amount : $ 1,229.27
Case
Type : INCOME
TAX
Creditor : STATE OF
WEST VIRGINIA
Date :
9/21/2005
Debtor
Address : SPENCER
VENEER LLC
270 INDUSTRIAL PARK SPENCER, WV 25276
SSN/EIN : 362-48-3081
Debtors : SPENCER
VENEER LLC
Filing
Type : STATE
TAX LIEN
Number : BK263 PG376
Status : OPEN
SPENCER, WV 25276
Secured
Parties : BRANCH
BANKING & TRUST COMPANY
Filing
Date :
7/10/2001
Filing
Number : 0563809
Filing
Type :
AMENDMENT
Original
Filing Number : 0547857
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC
270 INDUSTRIAL PARK ROAD P. O. BOX 85
SPENCER, WV 25276
Secured
Parties : MID-OHIO
VALLEY REGIONAL PLANNING AND DEVELOPMENT
COUNCIL
Filing
Date : 7/10/2001
Filing
Number : 0548622
Filing
Type :
AMENDMENT
Original
Filing Number : 0548622
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC
270 INDUSTRIAL PARK RD. P.O. BOX 85 SPENCER,
WV 25276
Secured
Parties : ONE VALLEY
BANK, N.A.
Filing
Date :
9/28/2000
Filing
Number : 0547857
Filing
Type :
INITIAL FILING
Name
Searched : SPENCER
VENEER LLC
Debtor
Address : SPENCER
VENEER, LLC
P.O. BOX 85 SPENCER, WV 25276
Secured
Parties : FIRST
NATIONAL BANK
Filing
Date : 2/6/2001
Filing
Number : 0554575
Filing
Type :
INITIAL FILING
GENERAL COMMENTS
The
Subject, founded in 2000 in West Virginia, is engaged as a manufacturer of
veneer lumber products. 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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|