MIRA
INFORM REPORT
|
Report Date : |
19.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
SYPRIS
TECHNOLOGIES, INC. |
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Registered Office : |
2820 West
Broadway, Louisville, Kentucky - 40211 |
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Country : |
United States |
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Date of Incorporation : |
09/05/2001 |
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Legal Form : |
Corporation –
Private |
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Line of Business : |
Manufactures
forged and machined components for the aerospace, transportation and energy
industries. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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: SYPRIS
TECHNOLOGIES, INC.
Address: 2820
West Broadway
City: Louisville
State/Province: KENTUCKY
Zip Code: 40211
Country: UNITED
STATES
Telephone: 502
774-6011
Facsimile: 502
774-6300
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of
Employees: 400
Legal Form: Corporation
- Private
Website: www.sypristechnologies.co
Business Activity: The Subject manufactures forged and
machined components for the aerospace,
transportation
and energy industries.
NOTE TO CLIENT
Contacted person:
Ms. Melissa Renfrow, Accounts Payable.
The provided
address:
2612 HOWARD ST
PO BOX 32160
Louisville, KY
corresponds to plant
location.
The provided name;
Tube Turns Division corresponds to a division of SYPRIS TECHNOLOGIES, INC.
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 09/05/2001
State/Province of
Incorporation: KY
Status: ACTIVE
Previous Legal Form:
Company is NOT required
to publish an annual financial report.
The Subject
incorporated in Delaware:
File Number: 3390237
Incorporation Date /
Formation Date: 05/09/2001
Entity Name: SYPRIS
TECHNOLOGIES, 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
The Company
qualified in Kentucky:
Organization Number
0527591
Name SYPRIS
TECHNOLOGIES, INC.
Profit or Non-Profit
P - Profit
Company Type FCO -
Foreign Corporation
Status A - Active
Standing G - Good
State DE
File Date 12/21/2001
Authority Date
12/21/2001
Last Annual Report
3/2/2007
Principal Office 2820
WEST BROADWAY
LOUISVILLE, KY 40211
Registered Agent CT
CORPORATION SYSTEM
1511 KENTUCKY HOME
LIFE BUILDING
LOUISVILLE, KY 40202
Managers/Key
Personnel
MR. JOHN M.
KRAMER President
MR. NORMAN E.
ZELESKY Secretary
MR. TONY ALLEN Treasurer
AFFILIATED ENTITIES
Sypris Test
& Measurement, Inc.,
Sypris Electronics,
LLC
Sypris Data Systems,
Inc.
Sypris Technologies
Marion, LLC
Sypris Technologies
Kenton, Inc.
Sypris Technologies Mexican
Holdings, LLC
Sypris Technologies
Mexico, S. de R.L. de C.V.
Sypris Technologies
Toluca, S.A. de C.V.
Parent Companies
Parent Company: Sypris Solutions, Inc.
101 BULLITT
LANE
KY 40222
UNITED STATES
The parent company
is publicly traded on NASDAQ under the ticker symbol SYPR.
(in thousands of US
Dollars) 31-Dec-2006 31-Dec-2005
Total Current Assets
$201,438 $213,236
Total Assets $379,033 $417,624
Total Current Liabilities
$100,721 $101,471
Total Liabilities $169,147
$203,890
Total Equity $209,886 $213,734
Global Net Sales $497,664 $522,766
Cost Of Goods Sold $456,574 $471,428
Gross Result $41,090 $51,338
Net Incomes/Loss Of
The Year $(1,362) $5,321
BANKS
Telephone:
Facsimile:
Account Number:
Account Manager:
Banking information
could not be obtained.
PAYMENT HISTORY
All the Subject
purchasing is done through its parent company.
Follows is the
payment history for the parent company; Sypris Solutions, Inc.:
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE CUR 1- 31- 61-
CATEGORY
REPTD SALE TERMS $
$ % 30
60 90 91+ COMMENTS
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
CHEMICALS
07-03 00-00 NET 30 200 200
0 50 50 0 0
ELEC DISTR 07-02 00-00 0000000 96300 0
0 0 0 0 0
PROMPT
ELEC EQUIP 07-03 00-00 NET 30 0
0 0 0
0 0 0 CUST 10 YR
ELEC EQUIP 07-03 06-12 N10PROX 2100 0
0 0 0 0 0
CUST 18 YR
EQUIPMENT
07-04 00-00 NET 30 800 0
0 0 0 0 0
CUST 19 YR
FACTOR
07-02 04-02 NET 30 0 0 0 0 0
0 0
FACTOR
07-01 05-03 NET 0 0 0 0 0
0 0 CUST 7 YR
FREIGHT
07-04 07-03 VARIED 176600 11900
54 46 0 0 0
MACH DISTR 07-03 00-00 VARIED 300
0 0 0
0 0 0
MACH DISTR 07-01 06-05 1/10N30 1500 0
0 0 0 0 0
CUST 2 YR
MACH DISTR 07-03 07-03 VARIED 12200
5000 77 23
0 0 0
OFFC SUPPL 07-03 07-03 NET 10800
6600 81 19 0 0
0 CUST 11 YR
OPTIC SUPL 07-01 00-00 CS DIS 100
100 100 0 0
0 0
PACKAGING
07-04 06-12 NET 30 2800 1500
48 52 0 0 0
CUST 14 YR
TELECOM
07-03 00-00 NET 30 10100 6200
100 0 0 0
0
TRUCK DLR
07-04 00-00 CONTRCT 12700
1400 0 100 0
0 0
AIR TRANS
05-04 00-00 200 0
0 0 0 0 0
AIR TRANS
06-11 00-00 NET 30 100 0
0 0 0 0 0
CUST 4 YR
BLDG MATRL 06-05 04-09 VARIED 4300
1300 100 0 0
0 0
COMPUTERS
05-05 00-00 CREDIT 0 0 0 0 0
0 0 CUST 37 YR
COMPUTERS
06-06 06-04 0000000 1800
0 0 0
0 0 0
CONTAINERS 04-07 00-00 VARIED 0 0
0 0 0 0 0
CUST 1 YR
ELEC DISTR 06-05 00-00 NET 30 86300
7400 15 0
0 85 0
ELEC SUPLR 04-08 03-10 2/10N30 0 0 0 0 0
0 0
ELEC SUPLR 06-04 00-00 0000000 8500 0
0 0 0 0 0
FACTOR 05-04 00-00 NET 30
2200 2200 100 0
0 0 0
FINCL SVCS 05-01 00-00 VARIED 400
100 100 0 0
0 0 CUST 4 YR
FREIGHT
06-09 06-08 VARIED 14100 1100
100 0 0 0
0
FRGHT FWRD 06-01 00-00 NET 30 6600
600 100 0 0 0
0
FRGHT FWRD 06-08 06-06 CASH 100
100 100 0 0
0 0 SATSFTRY
INDUS SUPL 05-10 00-00 1/10N30 204300 7000
0 36 64 0 0
IRON& STEEL 04-09 00-00 NET 30 130900
0 0 0
0 0 0
LEASING
05-06 00-00 CONTRCT 800
0 0 0
0 0 0
LUMBR& WOOD 05-01 04-12 NET 10 2300
1900 100 0 0
0 0
MANUFCTRNG 05-02 05-01 NET 30 12400
12400 100 0 0
0 0 CUST 1 YR
METAL DIST 04-10 04-04 5/10N30 17000 0
0 0 0 0
0
MISC MANUF 06-03 06-01 VARIED 6900
0 0 0
0 0 0
PAINTS
04-09 00-00 VARIED 2100 2100
100 0 0 0
0
PLBG SUPLR 06-02 00-00 VARIED 1800
300 100 0 0
0 0
SAFTY PROD 06-03 00-00 NET 30 0
0 0 0
0 0 0 CUST 6 YR
TELECOM
06-10 00-00 ROI 4100 600
100 0 0 0
0 CUST 3 YR
TRANSPORTN 04-09 04-08 VARIED 100
0 0 0
0 0 0
CURRENT QUARTER 325600
32800 69 31
0 0 0
Payment Trends
INDUSTRY BUSINESS
BALANCE CUR 1- 31- 61-
DATE
CUR DBT DBT $ % 30
60 90 91+
--------
--- --- --- -------- --- --- --- --- ---
20070400
0 27 47
40100 45
8 0 11 36
20070300
0 20 23 36500 38 21
37 4 0
20070200
0 19 21 36900 44 17
35 4 0
20070100
0 14 9 157700 40 60
0 0 0
20061200
0 14 10 148400 35 65 0
0 0
20061100
0 14 10 156000 36 64
0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ % 30 60
90 91+
-------- ------ ---
-------- --- --- --- --- ---
First
2007 32 37800 42 15 23
7 13
Fourth
2006 9 153900 37 63 0
0 0
Third
2006 11
170500 31 67
2 0 0
Second
2006 12 84200 27 71 1
1 0
First
2006 12 81300 30 65 5
0 0
FINANCIAL INFORMATION
Financial information
for the Subject could not be obtained. Other outside sources could not provide
any further insight into the financial condition of this firm.
Please PARENT
COMPANY section for the parent company's financials.
CURRENT OPERATIONS
NAICS Code: 332112
Nonferrous Forging
SIC Code: 3463
Number of
Employees: 400
Business Activity:
The Subject
manufactures forged and machined components for the aerospace, transportation
and energy industries.
Products include;
Axle Shafts, Ring Gears, Pinions, Helical Gears, Input Shafts, Spindles, Jet
Engine Shafts, Piston Cylinders, as well as Hinged Closures (high and
low-pressure), Insulated Joints, Swel-plug Pressure Testers, Transition Joints,
and other specialty piping components.
The heading address
is the headquarters of the Company.
There are 5 branch
and plant locations in the United States and one plant location in Mexico. One of the plant location in the US is at:
2612 HOWARD ST
Louisville, KY
There is one
division; Tube Turns Division.
PUBLIC RECORD
Name Searched:
SYPRIS TECHNOLOGIES
Debtor Address:
SYPRIS TECHNOLOGIES, INC.
2820 WEST BROADWAY
LOUISVILLE, KY
40211
Secured Parties: DUPLICATOR
SALES AND SERVICE, INC.
Filing Date:
11/29/2005
Filing Number:
2005213219792
Filing Type: INITIAL
FILING
--------------------
Name Searched:
SYPRIS TECHNOLOGIES
Debtor Address:
SYPRIS TECHNOLOGIES, INC.
2612 HOWARD STREET
LOUISVILLE, KY
40211
Secured Parties:
DUPLICATOR SALES AND SERVICE, INC.
Filing Date:
9/27/2005
Filing Number:
2005211954867
Filing Type: INITIAL
FILING
---------------
Name Searched:
SYPRIS TECHNOLOGIES
Debtor Address: SYPRIS
TECHNOLOGIES, INC.
2612 HOWARD STREET
LOUISVILLE, KY
40211
Secured Parties:
DUPLICATOR SALES AND SERVICE, INC.
Filing Date:
9/27/2005
Filing Number:
2005211955666
Filing Type: INITIAL
FILING
-------------------
Name Searched:
SYPRIS TECHNOLOGIES
Debtor Address:
SYPRIS TECHNOLOGIES, INC.
718 S. 28TH STREET
LOUISVILLE, KY
40211
Secured Parties:
MEREDITH MACHINERY, LLC
Filing Date:
8/8/2006
Filing Number:
2006216562828
Filing Type:
TERMINATION
Original Filing
Number: 2006216562828
----------------------
Name Searched:
SYPRIS TECHNOLOGIES
Defendant Counsel:
Shoemaker, Amy Elizabeth [COR LD NTC]
Middleton Reutlinger
2500 Brown
& Williamson Tower
Louisville, KY, USA
40202-3410
502-584-1135 Fax:
502-561-0442 Email: Ashoemaker@middreut.com
Cunningham, Bradley
E [COR LD NTC]
Middl
Defendant: Sypris
Technologies, Inc
Filing Date:
3/29/2006
Filing Type: Civil
Plaintiff Counsel:
Sims, Tracy M [COR LD NTC]
Adams, Hayward
& Welsh
4036 Preston Highway
Louisville, KY, USA
40213
502-336-6456 Fax:
502-366-1105
Hayward, Samuel G
[COR LD NTC]
Adams, Hayward
& Welsh
4036 Preston Highway
Louisville, KY, USA
40213
502-366-6456 Fax: 502-366-1105
Email: Samuelghayward@hotmail.com
Plaintiff:
Croushore, William
--------------------
Name Searched:
SYPRIS TECHNOLOGIES
Debtor Address:
SYPRIS TECHNOLOGIES, INC.
2820 WEST BROADWAY
LOUISVILLE, KY
40211
TUBE TURNS
TECHNOLOGIES, INC.
2820 WEST BROADWAY
LOUISVILLE, KY 40211
Secured Parties:
BANK ONE, KENTUCKY, NA, AS AGENT BANK
Filing Date:
4/28/2003
Filing Number:
2002180183328
Filing Type:
TERMINATION
Original Filing
Number: 2002180183328
----------------
Name Searched:
SYPRIS TECHNOLOGIES
Debtor Address:
SYPRIS TECHNOLOGIES, INC.
2820 W BROADWAY
LOUISVILLE, KY
40211
Secured Parties:
DUPLICATOR SALES AND SERVICE, INC
Filing Date:
3/1/2006
Filing Number:
2006215073066
Filing Type: INITIAL
FILING
A search of
bankruptcy courts revealed no record of a Company by this name filing for
bankruptcy.
GENERAL COMMENTS
The Subject appears to
be a well established company, operating since 2001. The operating history
appears to be satisfactory. Public shows a statement of claim against the
Company, however the current status could not be determined. The Company is
considered responsible for normal business transactions.
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 |
|
<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 |
|
This score serves as a reference to assess SC’s 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%)