MIRA
INFORM REPORT
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Report Date : |
31.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
TEKNI-PLEX, INC. |
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Registered Office : |
201 Industrial Parkway, Somerville, New Jersey, 08876 |
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Country : |
United States |
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Date of Incorporation : |
15/03/1994 |
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Legal Form : |
Corporation Private |
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Line of Business : |
Manufacturer and wholesaler of packaging, products, and materials for the
healthcare, consumer, and food packaging industries. |
RATING &
COMMENTS
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MIRAs 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 : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name : TEKNI-PLEX, INC.
Trade Name(s) : DOLCO
PACKAGING CORP
Address :
201 INDUSTRIAL PARKWAY
City :
SOMERVILLE
State/Province : NEW
JERSEY
Zip Code :
08876
Country :
UNITED STATES
Telephone : 908
722-4800
Facsimile :
908 722-4967
As of :
Sales / Revenue :
Net Income :
Total Equity :
Number of Employees : 3,100
Legal Form :
Corporation - Private
Website :
www.tekni-plex.com
Business Activity :
TEKNI-PLEX, INC., is a manufacturer and wholesaler of packaging, products, and
materials for the healthcare, consumer, and
food packaging industries.
NOTE TO CLIENT
Contact Person: Ms. Dawn
Position : Financial Controller
Attempts to reach Ms. Dawn were unsuccessful as she was unavailable
after many attempts. As a result, voice messages were left and a written
request was sent. If she responds the
report will be amended. The information
in the report was retrieved from the Company's website and outside sources and
has not been confirmed with management.
LEGAL
Legal Form: Corporation
- Private
Since (D/M/Y): 15/03/1994
State/Province of Incorporation:
DE
Status:
ACTIVE
Previous Legal Form:
Company is NOT required to publish an annual financial report.
The Company is incorporated in Delaware under the following
registration:
THIS IS NOT A STATEMENT OF GOOD STANDING
File Number: 2383965
Incorporation Date
/ Formation Date: 03/15/1994
(mm/dd/yyyy)
Entity Name: TEKNI-PLEX, INC.
Entity Kind: CORPORATION
Entity Type: GENERAL
Residency: DOMESTIC
State: DE
REGISTERED AGENT
INFORMATION
Name: THE COMPANY CORPORATION
Address: 2711 CENTERVILLE ROAD SUITE 400
City: WILMINGTON
County: NEW CASTLE
State: DE
Postal Code: 19808
Phone: (302)636-5440
Managers/Key
Personnel
Mr. Patrick Smith
Chairman, President
& CEO
Mr. James E. Condon
Vice Pres. & Chief
Financial Officer
Mr. Edward Goldberg
Senior Vice President
Mr. Joe Bruno/Human Resource
Vice President
Mr. William Kaplan
Controller
Mr. Stanley Mozade / Engeneering
Director
AFFILIATED ENTITIES
The following companies are affiliated to TEKNI-PLEX:
Elm Packaging
Swan Hose
Super Plastics Division
Tri-Seal International
NATVAR
PureTec
Cambridge
Dolco Packaging Corporation
Flemington
Tekni-Films
Tekni-Plex Europe
Tekni-Plex Liners
Tekni-Plex Trays
BANKS
NJ
Telephone:
Facsimile:
Account Number:
Account Manager:
The name of the primary bank could not be obtained directly from
management.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE CUR 1- 31- 61-
CATEGORY
REPTD SALE TERMS $
$ % 30
60 90 91+ COMMENTS
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
AIR TRANS
06-12 00-00 0000000 6300
2300 100 0 0
0 0 CUST 25 YR
AIR TRANS
06-11 00-00 NET 30 300 300
0 0 100 0 0 COLLECTION
BUS SERVCS 07-02 00-00 NET 7 12100
3100 100 0 0
0 0
COMPUTERS
07-01 03-05 CREDIT 15000 0
0 0 0 0 0
ELEC SUPLR 07-02 00-00 NET 30 0
0 0 0
0 0 0 CUST 1 YR
ELEC SUPLR 07-03 00-00 COD 0
0 0 0
0 0 0 CUST 7 YR
FACTOR
07-03 06-05 NET 30 2100 0
0 0 0 0 0
CUST 8 YR
FREIGHT
07-03 06-05 VARIED 14900 0
0 0 0 0 0
GENERAL
07-02 00-00 CONTRCT 0
0 0 0
0 0 0
MISC MANUF 07-02 07-02 NET 30 5300
5300 100 0 0
0 0
PACKAGING
07-01 06-12 NET 30 4300 2000
100 0 0 0
0 CUST 10 YR
SAFTY PROD 07-02 07-01 NET 30 300
100 27 73
0 0 0 CUST 15 YR
TRUCK DLR
06-12 00-00 CONTRCT 2600
200 100 0 0 0
0
BLDG MATRL 04-10 00-00 VARIED 100
0 0 0
0 0 0
COMPUTERS
05-05 00-00 CREDIT 0 0 0 0 0
0 0 CUST 37 YR
COMPUTERS
05-10 05-09 12500 0
0 0 0 0 0
ELEC MFG
04-03 03-12 NET 30 3800 700
100 0 0 0
0
ELEC MFG
06-09 00-00 NET 30 900 0
0 0 0 0 0
CUST 12 YR
FACTOR
04-07 03-08 NET 30 0 0 0 0 0
0 0
INDUS SUPL 06-06 06-01 NET 30 400
400 18 15
15 52 0 CUST 6 YR
LUMBR& WOOD 05-03 05-03 VARIED 29600
20900 100 0 0
0 0 CUST 3 YR
MANUFCTRNG 04-09 04-08 VARIED 6200
6200 72 28
0 0 0
PAINTS
04-12 00-00 VARIED 2500 400
100 0 0 0
0
PLUMBING
06-10 06-09 NET 10 1000 200
2 98 0 0 0
SAFTY PROD 06-03 00-00 NET 30 400
100 100 0 0
0 0
TEMP HELP
05-11 00-00 NET 10 16300 1700
62 38 0 0 0
CUST 1 YR
TRANSPORTN 06-07 05-11 NET 15 3900
0 0 0 0
0 0
CURRENT QUARTER 62900
13000 99 1
0 0 0
Payment Trends
INDUSTRY BUSINESS
BALANCE CUR 1- 31- 61-
DATE
CUR DBT DBT $ % 30
60 90 91+
--------
--- --- --- -------- --- --- --- --- ---
20070300
0 11 0 13100 99 1
0 0 0
20070200
0 10 0 10600 100
0 0
0 0
20070100
0 8 1 11000 91 9
0 0 0
20061200
0 8 11 18600 70 7
23 0 0
20061100
0 7 0 17200 100
0 0
0 0
20061000
0 7 0 14500 100
0 0
0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ % 30 60
90 91+
-------- ------ ---
-------- --- --- --- --- ---
Fourth
2006 5 15600 86 5 9 0 0
Third
2006 0 13500 100 0 0 0
0
Second
2006 0 19700 97 3 0
0 0
First
2006 0 10100 100 0 0 0
0
Fourth
2005 0 6700 100 0 0 0
0
FINANCIAL INFORMATION
Management could not be contacted for an informative management
interview. The following financial information was obtained from an outside
source and has not been confirmed with management:
For fiscal year end December 31, 2006:
Sales: $742,683,000
Net Income: 84,311,000
Assets: 663,335,000
Liabilities: 952,286,000
CURRENT OPERATIONS
NAICS Code: 326 Plastics
and Rubber Products Manufacturing
NAICS Code: 339991 Gasket,
Packing, and Sealing Device Manufacturing
Number of Employees:
3,100
Business Activity:
TEKNI-PLEX, INC., is a manufacturer and wholesaler of packaging, products,
and materials for the healthcare, consumer, and food packaging industries. The Company specializes in consumer
packaging and products, and industrial packaging, products and materials. The Company's products include:
Closure Liners
Tri-Seal
Action Technology Europe
Egg Cartons
Dolco
Foam Packaging
Dolco
Tekni-Plex Trays
Garden Hose
Colorite Waterworks
PVC Medical Tubing
Natvar
Action Technology Europe
Pharmaceutical Packaging Films
Tekni-Films
Tekni-Plex Liners
PurePlast
Tri-Seal
Tekni-Films Europe
Processor Trays
Tekni-Plex Trays
Dolco
PVC Industrial Compounds
Cybertech
Colorite Polymers
Colorite Europe
PVC Medical Compounds
Colorite Polymers
PVC Specialty Resins
Colorite Specialty Resins
PET Recycled Materials
PureTech Recycling
Rubber Components
American Gasket & Rubber
AGR Medical Rubber Division
Action Technology Europe
Rubber Seals, Gaskets, Stoppers &
Syringe Plungers
American Gasket & Rubber
AGR Medical Rubber Division
Silicone Replacement Tubing
Natvar
Specialty Packaging
Action Technology USA
Action Technology Europe
American Gasket & Rubber
AGR Medical Rubber Division
Pure Plast
The above address is the headquarters for the Company.
PUBLIC RECORD
FILING INFORMATION
Filing Number: 06JG12115
Filing Type: STATE TAX LIEN
Filing Office: FRANKLIN COUNTY COMMON PLEAS COURT
Filing County: FRANKLIN
Filing Date: 05/17/2006
DEBTOR INFORMATION
Debtor: TEKNI PLEX INC
201 INDUSTRIAL PKWY
BRANCHBURG, NJ 08876
Debtor Type: BUSINESS
Tax Payer ID Number: XX-XXXXXXX
CREDITOR INFORMATION
Creditor: STATE OF OH
LIEN INFORMATION
Total Amount: 58640
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FILING INFORMATION
Filing Number: 2006JG012115
Filing Type: TAX LIEN - STATE
Filing Office: COMMON PLEAS
COURT
Filing County: FRANKLIN
Filing Date: 05/17/2006
DEBTOR INFORMATION
Debtor: TEKNI PLEX INC
201 INDUSTRIAL
SOMERVILLE, NJ 08876
CREDITOR INFORMATION
Creditor: STATE OF OHIO
LIEN INFORMATION
Status: OPEN
Status Date: 05/17/2006
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FILING INFORMATION
Filing Number: 51791871
Filing Date: 06/10/2005
Filing Time: 1:49PM
Filing Type: ORIGINAL
Filing Office: SECRETARY OF
STATE/UCC DIVISION
FEDERAL
& DUKE OF YORK STS
DOVER, DE
19901
DEBTOR INFORMATION
Debtor(s): TEKNI-PLEX, INC.
260 NORTH
DENTON TAP RD., SUITE 150
COPPELL, TX
75019
SECURED PARTY OR CREDITOR INFORMATION
Secured Party(s): CITICORP USA,
INC., AS ADMINISTRATIVE AGENT
388
GREENWICH STREET, 19TH FLOOR
NEW
YORK, NY 10013
COLLATERAL INFORMATION
Collateral Type: ACCOUNT(S)
INCLUDING PROCEEDS AND PRODUCTS
Collateral Type: CHATTEL PAPER
INCLUDING PROCEEDS AND PRODUCTS
Collateral Type: GENERAL
INTANGIBLE(S) INCLUDING PROCEEDS AND PRODUCTS
Collateral Type: INVENTORY
INCLUDING PROCEEDS AND PRODUCTS
Collateral Type: COMPUTER
EQUIPMENT INCLUDING PROCEEDS AND PRODUCTS
Collateral Type: EQUIPMENT
INCLUDING PROCEEDS AND PRODUCTS
Collateral Type: MACHINERY
INCLUDING PROCEEDS AND PRODUCTS
Collateral Type: FIXTURES INCLUDING
PROCEEDS AND PRODUCTS
Collateral Type: VEHICLES
INCLUDING PROCEEDS AND PRODUCTS
Collateral Type: NEGOTIABLE
INSTRUMENTS INCLUDING PROCEEDS AND PRODUCTS
Collateral Type: PARTNERSHIP
INTEREST INCLUDING
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FILING INFORMATION
Filing Number: 51816462
Filing Date: 06/13/2005
Filing Time: 4:53PM
Filing Type: ORIGINAL
Filing Office: SECRETARY OF STATE/UCC DIVISION
FEDERAL & DUKE OF YORK STS
DOVER,
DE 19901
DEBTOR INFORMATION
Debtor(s): TEKNI-PLEX, INC.
260 NORTH DENTON TAP RD., SUITE 150
COPPELL, TX 75019
SECURED PARTY OR CREDITOR INFORMATION
Secured Party(s): HSBC BANK USA,
NATIONAL ASSOCIATION, AS COLLATERAL AGENT
ATTENTION: ISSUER SERVICES
452 FIFTH AVENUE
NEW YORK, NY 10018
COLLATERAL INFORMATION
Collateral Type: ALL ASSETS AND
PROCEEDS
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A nationwide search of bankruptcy files revealed no bankruptcy petition
under the Subject's name.
GENERAL COMMENTS
Tekni-Plex manufactures packaging, packaging products, and tubing
products for the food, health care, and consumer industries. The payment history is satisfactory, and
there are no legal actions taken against the Firm. In addition, a nationwide search of bankruptcy courts revealed no
bankruptcy under the subject's name.
RATING
EXPLANATIONS
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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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SCs credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)