MIRA
INFORM REPORT
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Report Date : |
16.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
TRANE INDIA LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
06/08/1993 |
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Legal Form : |
Corporation –
Private |
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Line of Business : |
Engaged in the
marketing and sales of Trane heating, air conditioning, refrigeration
equipment and systems. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: TRANE
INDIA LTD.
Trade Name(s): Trane
Address:
City:
State/Province:
Zip Code: 54601
Country: UNITED
STATES
Telephone: 608
787-2000
Facsimile: 608
787-4393
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees:
1,000
Legal Form: Corporation
- Private
Website: www.trane.com
Business Activity: The Subject is engaged in the marketing
and sales of Trane heating, air conditioning,
refrigeration
equipment and systems.
NOTE TO CLIENT
Please note that
several detailed messages were left via telephone for Management. In addition
Management was sent a written request for company information via
facsimile. Unfortunately, we did not
receive a response to our inquiries and thus, cannot substantiate general
information contained in this report. If however, Management responds to our
inquiries at a later time, this report will be appropriately amended.
Information in this
report has been obtained from outside sources and has not been confirmed by
management.
-------
The name of the
highest ranking officer could not be determined.
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 06/08/1993
State/Province of
Incorporation: DE
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
The Company is
registered in the State of
File Number: 2346623
Incorporation Date,
Formation Date: 08/06/1993
Entity Name: TRANE INDIA LTD.
Entity Kind: CORPORATION
Entity Type: GENERAL
Residency: DOMESTIC
State: DE
REGISTERED AGENT INFORMATION
Name: THE
CORPORATION TRUST COMPANY
Address:
City:
County: NEW
CASTLE
State: DE
Postal Code: 19801
Phone: (302)658-7581
AFFILIATED ENTITIES
Entity Name Jurisdiction
-----------------------------------------------------------------------------------------------------------------
A-S (
Air Conditioning
Service (Midlands) Limited
Airco Limited
Alimenterics B.
V. The
Alimenterics
Inc.
Alimenterics
International Inc.
Alliance Compressors
Inc.
Amair Limited
American Standard (
American Standard
Bermuda Ltd.
American Standard
Companies Inc.
American Standard
Credit Inc.
American Standard
Europe BVBA
American Standard
Europe Holdings Inc.
American Standard
American Standard
Foreign Trading Limited
American Standard
Inc.
American Standard
International Inc.
American Standard
International L.L.C.
American Standard
Italia
American Standard
Korea, Inc.
American Standard
Leasing Inc.
American Standard
Philippine Holdings, Inc.
American Standard
American Standard
American Standard
Philippines Limited, Co.
American Standard
Sanitaryware (
Public Co.,
Ltd.
American Standard
Trane Brands, Inc.
American Standard
Trane Japan, Ltd.
American Standard
Trane LLC
American Standard Vietnam
Inc.(Cong Ty
Lien Doanh Su Ve
Sinh My Phu)
American Standard
Warranty Company
American Standards
Inc.
Amstan Air Inc.
Amstan
Corporation
Amstan Hotels
AD
Amstan Logistica, S.
A. de C. V.
Amstan Logistics
Inc.
Armitage Shanks (
Armitage Shanks
International Limited
Armitage Shanks
Limited
Armitage Venesta
Washroom Systems Limited
A-S (
A-S (
A-S (Jiangmen)
Fittings Co. Ltd.
A-S (
A-S (
A-S Air Conditioning
Products Limited
A-S Air Conditioning
System (
A-S Air-Conditioning
System (
A-S China Plumbing
Products Limited
A-S China Plumbing
Products Servco Limited
AS Deutschland
GmbH
A-S Energy,
Inc.
AS Foreign Trading
Limited
AS Rheinland
Ventures Gmbh
A-S Thai Holdings
Ltd.
AS Vidalia, LLC
ASE Finance
Ltd.
ASE Finance
SPRL
ASE
ASI China Holdings
Limited
ASI Receivables
Funding LLC
BMM, Inc.
CAPP Holdings
Limited
Capsule Trane
Connecticut Inc.
Cardwell Trane
Greenville Inc.
Central Hope (
Ceramic Export
Trading Company Inc.
Ceramic Sanitaryware
Pte. Ltd.
Clayton Dewandre
Company Limited
Clayton Dewandre
Holdings Limited
Cooling Equipment
Services Limited
DFM Trane Oklahoma
Corp.
DiaSorin
International B. V.
The
Netherland
DiaSorin
International Inc.
Dradnats Inc.
EBB Holdings
Limited
Edwards Logistics (
Edwards Logistics
Limited
Egyptian American
Industrial Plastics Company S.A.E.
Egyptian American
Sanitary Wares Co. S.A.E.
Environmental
Technologies Australia Pty Ltd.
FACServices, Inc.
Filairco Technical
Services Co., Inc.
Filairco, Inc.
FWJ Inc.
Hang Zhou A-S Air
Conditioning Technical
Services Co.,
Ltd.
Hepren Limited
Hermann Trane
Harrisburg Inc.
Houston Trane,
Inc.
Hua Mei Sanitary
Ware Company Ltd.
Ideal Standard (
Ideal Standard (
Ideal Standard (
Ideal Standard
Ideal Standard
Ideal Standard
Equipamentos Sanitarios LDA.
Ideal Standard
Ideal Standard
France S.A.
Ideal Standard
GmbH
Ideal Standard GmbH
& amp; Co. OHG
Ideal Standard
Holding Italia S.r.l.
Ideal Standard IBV
Ltd.
Ideal Standard
Industrial S.L.U.
Ideal Standard
Industriale S.r.l.
Ideal Standard
Industries
Ideal Standard
Italia S.r.l.
Ideal Standard
Manufacturing (
Ideal Standard
Ideal Standard
Polska Sp. Z.o.o.
Ideal Standard
Porcher (
Ideal Standard S. L.
U.
Ideal Standard
S.A.I.
Ideal Standard
Scandinavia A/S
Ideal Standard
s.r.o.
Ideal Standard
Verwaltungs GmbH
Ideal Standard Wabco
Trane Industria e
Comercio Ltda.
Ideal Standard, S.A.
de C.V.
Ideal
Standard-Vidima AD
Ideal-Standard
Limited
Ideal-Standard Trane
Inc.
Ideal-Standard
Trustees Limited
Industria
Centroamericana de Sanitarios,
Sociedad Anonima
(“Incesa -
Industria Ceramica
Centroamericana, S.A.
(“Incesa-Nicaragua”)
Industria Ceramica
Costarricense S.A.
(“INCESA- Costa
Rica”)
Industria Ceramica
Del Centro, S. A. de C. V.
Industrial Chill
Servicing Private Ltd.
Industrial Y Minera
Nortena S. A.
Internacional de
Inversiones Diversas S. A.
(“New
Inversiones
Intercentroamericanas
Investcorp Private
Limited
Islamic Acrylic
Company For Acrylic Products S.A.E.
Itargila Mineracao
Ltda.
Ives Trane NY,
Inc.
Jado Bathroom And
Hardware
Manufacturing
Corporation
Jado GmbH
Jado Iberia-Produtos
Metalurgicos, S. A.
Jado Italia
S.r.l.
John Steventon &
amp; Sons Limited
JTA China Import
Limited
Materias Primas
Dominicanas, S. A. (MAPRIDOSA)
Meritor Wabco
Vehicle Control Systems
Minera Industrial
Regiomontana, S.A.
MJM Hong Kong
Ltd.
Mongrue Trane
Massachusetts, Inc.
Pareo S.A.S.
PARTSLIFE Recycling
System GmbH
Perfect Pitch,
L.P.
Perrot Brakes (
Perrot North
America, Inc.
Pinko Palino
Inc.
Prime Air
Limited
PT American Standard
PT Trane
Qualitas Bathrooms
Limited
Rand Trane Dallas
Inc.
Ronald Marley
Associates Limited
Sanistan B.V. The
Sanitaire
Benchekroun - Slaoui
Sanitarios Dominicanos,
S. A. (SADOSA)
Sanitary Wares
Manufacturing Corporation
SAU Corp.
Servicefirst Aircon
Private Ltd.
Sevlievogas - 2000
AD
Shangdong Weiming
Automotive Products Ltd.
]Societe Trane
SAS
Sophista
Limited
Sottini Bathrooms
Ltd.
Standard Centennial
Property, LLC
Standard Compressors
Inc.
Standard Industrial
Mineral Products Corp.
Standard Resources
And Development Corporation
Standard Trane
Insurance Company
Standard Trane
Insurance Ireland Limited
Standex
Sundaram-Clayton
Limited
T.I. Solutions (
Tac Distribution
Pte. Ltd.
Tantofex (Engineers)
Limited United
Kingdom
Tantofex
Limited
Tast Limited
TDU Pty Limited
Tecniceramica de
Costa Rica,
Teling Air
Conditioner Company Limited
Teling Air
Conditioning Systems (
The Trane Company (
The Trane Company (
Thorthol Holdings B.
V. The
TJ Technical
Services Limited
TM Air Conditioning
Sdn. Bhd.
Trane (
Trane (
Trane (
Trane (Schweiz) GmbH
/ Trane (Suisse) S.a.r.l.
Trane (
Trane (
Trane (
Trane
Airconditioning Pte. Ltd.
Trane Aire
Acondicionado, S. L.
Trane Algérie
SARL
Trane Asia Pacific
Limited
Trane Bahamas
Ltd.
Trane Central
America, Inc.
Trane Central Plant
1, LLC
Trane Comfort
Solutions Inc.
Trane CR Spol
sro.
Trane de Argentina
Trane de Chile
Trane de Colombia S.
A.
Trane Deutschland
GmbH
Trane Export
LLC
Trane General
Corporation
Trane GmbH
Trane Hellas
S.A.
Trane
Trane Italia
S.r.L
Trane Klima Ticaret
AS
Trane
Klimatechisches Buero Nuernberg GmbH
Trane Korea,
Inc.
Trane Kuwait
Airconditioning Co WLL
Trane Limited
Trane
Trane Polska Sp.
Z.O.O.
Trane Pty Ltd.
Trane Puerto Rico
Inc.
Trane Reinetsu
Service Co., Ltd
(Trane Reinetsu
Service Kabushiki Kaisha)
Trane
Trane S.A.E.
Trane Service
Company L.L.C.
Trane Services
Acquisition I Inc.
Trane
Trane Taiwan
Distribution Ltd.
Trane Technologies
LLC
Trane Tunisie
S.a.r.l.
Trevi Showers
Ltd.
Troc Air
Conditioning, Ltd.
TSI Anstalt
TYS Limited
Ultrawide
Engineering Limited
United Partner
General Contracting Co WLL
Venborgh Holding B.
V. The
WABCO (
Wabco (Schweiz) GmbH
/ Wabco (Suisse) S.a.r.l.
Wabco (
Wabco Air Compressor
Holdings Inc.
Wabco
Wabco Automotive
AB
Wabco Automotive
B.V. The Netherland
Wabco Automotive
Control Systems Inc.
Wabco Automotive
Holdings Inc.
Wabco Automotive
Italia S.r.L.
WABCO Automotive
Pension Trustees Limited
Wabco Automotive
Products Inc.
Wabco Automotive
Products Limited
Wabco Automotive
WABCO Automotive
U.K. Limited
Wabco B. V. The
Wabco
WABCO brzdy k
vozidlum spol.s.r.o.
WABCO
Wabco Compressor
Manufacturing Co.
WABCO Development
Wabco Espana S.
L.
Wabco
Fahrzeugsysteme GmbH, Hannover
Wabco
Wabco
Wabco GmbH
Wabco GmbH &
amp; Co. OHG
WABCO GP Inc.
WABCO Holding
Co.
Wabco Japan
Inc.
Wabco Korea
Inc.
Wabco Korea
Ltd.
WABCO Logistics (
WABCO Logistik
GmbH
Wabco North America
Inc.
Wabco Polska Spolka
Z Ograniczona
Odpowiedzialnoscia
Wabco Radbremsen
GmbH
Wabco Sandown B. V.
(
WABCO Shanghai Co.,
Ltd.
Wabco Standard
Export Ltd.
Wabco Standard
French Holdings Sarl
Wabco Standard
GmbH
Wabco Standard Trane
B.V. The
WABCO Standard Trane
C.I.S.
Limited Liability
Company
Wabco Standard Trane
Co.
Wabco Standard Trane
Credit Inc.
WABCO Standard Trane
S.A.
Wabco Standard Trane
Sarl
WABCO Systeme
GmbH
Wabco Wednesbury
Ltd.
Wabco Westinghouse
S.A.S (
Wabco, Inc.
(PA)
Westinghouse Air
Brake International Corporation
World Standard
Ltd.
World Standard Trade
Limited
Joint Design Office
Technical Services Division
Parent Companies
Parent Company: American Standard Companies Inc.
NY
UNITED STATES
Exchange:
Share Price: 37.61
52 Week Range: 44.87-28.01
Shares Outstanding:
204,342,000
---
(in millions USD) 12/31/2006
Total Current Assets 3,436.7
Total Assets 7,413.1
Total Current Liabilities 2,568.1
Total Liabilities 6,489.6
Stockholder Equity 923.5
Global Net Sales 11,208.2
Cost of Goods Sold 10,462.0
Gross Result 746.2
Net Incomes/Loss of the Year 541.0
---
The following
information was extracted from the parent company's 2006 annual report filed
with the Securities and Exchange Commission.
There are no
subsidiaries.
BANKS
WI
Telephone:
Facsimile:
Account Number:
Account Manager:
We were unable to
obtain or identify the primary bank.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE
CUR 1- 31- 61-
CATEGORY
REPTD
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
AIR TRANS
07-06 00-00 0000000 5700
5700 100 0 0
0 0 CUST 17 YR
BLDG MATRL 07-06 00-00 VARIED 9100
0 0 0
0 0 0
COMMUN SVC 07-07 00-00 NET 21 6400
2100 100 0 0
0 0 CUST
6 YR
DP EQUIP
07-06 06-07 NET 30 0 0
0 0 0
0 0
DP SERVCS
07-07 00-00 0000000 0
0 0 0
0 0 0
CUST 5 YR
ELEC DISTR 07-08 00-00 NET 30 0
0 0 0
0 0 0
ELEC DISTR 07-07 06-10 VARIED 700
0 0 0
0 0 0
CUST 15 YR
ELEC SUPLR 07-07 00-00 1/10PRX 0 0
0 0 0
0 0
EQUIPMENT
07-07 00-00 VARIED 0 0
0 0 0
0 0
FACTOR
07-06 00-00 NET 30 0 0
0 0 0
0 0
FINCL SVCS 07-07 00-00 VARIED 0
0 0
0 0 0 0
FREIGHT
07-04 07-03 VARIED 2300 400
100 0 0 0 0
FRGHT FWRD 07-07 07-07 NET 30 100
100 100 0 0
0 0
GLASS
07-07 07-06 0000000 7700
0 0 0
0 0 0
CUST 3 YR
HTNG SUPLR 07-04 07-04 1/10PRX 12800 700
66 34 0 0 0
CUST 15 YR
HEATNG& A/C 07-08 00-00 NET 30 11200
2500 0 0
100 0 0
MACH DISTR 07-07 06-05 1/10N30 300 0
0 0 0 0 0
CUST 16 YR
MACH DISTR 07-07 00-00 NET 20 5400
800 100 0 0
0 0 CUST 93 YR
MACHINERY
07-07 99-10 NET 30 0 0
0 0 0
0 0
MANUFCTRNG 07-06 05-07 NET 30 200
0 0 0
0 0 0
CUST 4 YR
MANUFCTRNG 07-05 07-04 NET 30 34400
1500 100 0 0
0 0
METL FNSHG 07-07 00-00 NET 30 0
0 0 0
0 0 0
OPTIC SUPL 07-08 00-00 NET EOM 24000 16800
53 35 10
2 0 CUST
7 YR
PACKAGING
07-08 01-12 NET 30 0 0
0 0 0
0 0 CUST 12 YR
PLUMBING
07-06 07-06 NET 10 9800 1900
96 4 0
0 0
SAFTY PROD 07-05 00-00 NET 30 8800
0 0 0
0 0 0
CUST 9 YR
SERVICES
07-06 07-05 NET 300 300
0 100 0 0
0 CUST 23 YR
TIRES
07-07 07-07 VARIED 2900 500
100 0 0 0 0
TRANSPORTN 07-07 00-11 VARIED 0
0 0 0
0 0 0
CUST 18 YR
TRANSPORTN 07-06 00-00 NET 30 0
0 0 0
0 0 0
PROMPT
TRNS EQUIP 07-08 00-00 NET 30 0
0 0 0
0 0 0
CUST 8 YR
TRUCK DLR
07-08 00-00 CONTRCT 195100
127200 99 1
0 0 0
AIR TRANS
06-11 00-00 NET 30 56000 56000
98 0 0
2 0 COLLECTION
AUTOMOTIVE 06-09 00-05 COD 0
0 0 0 0 0
0 CUST 25 YR
BLDG MATRL 05-04 00-00 2/10N30 100 0
0 0 0
0 0 CUST 14 YR
BUS SERVCS 05-04 05-04 NET 30 0
0 0 0
0 0 0
CELLUL/PAG 07-07 05-10 NET 30 1100 1100
0 0 0
0 100 WRITE-OFF
COMMUN SVC 05-02 00-00 NET 30 0
0 0 0
0 0 0
COMPUTERS
06-06 06-05 0000000 139600
20700 0 51
49 0 0
CONST MACH 07-01 06-11 N10PRXO 4700 0
0 0 0
0 0 CUST 10 YR
ELEC DISTR 06-06 00-00 NET 30 1300
600 36 64
0 0 0
ELEC EQUIP 06-11 00-00 NET 30 400
100 0 100 0
0 0
ELEC MFG
06-09 00-00 NET 30 11800 0
0 0 0
0 0
ELEC SUPLR 04-08 04-08 2/10N30 0 0
0 0
0 0 0
ELEC SUPLR 05-04 00-00 VARIED 30500
6500 17 51
32 0 0
ELEC SUPLR 05-02 00-00 NET30 1200
300 100 0 0
0 0
EQUIPMENT
04-10 00-00 NET 30 0 0
0 0 0
0 0
EQUIPMENT
06-02 00-00 NET 30 0 0
0 0 0
0 0
EQUIP LEAS 07-05 00-00 NET 30 153900
5500 100 0 0
0 0
FACTOR
05-05 04-12 VARIED 198000 110100
66 34 0
0 0 21 DYS LAT
FACTOR
07-02 02-08 NET 30 0 0
0 0 0
0 0
FINCL SVCS 05-05 00-00 CONTRCT 0 0
0 0 0 0 0
CUST 12 YR
FREIGHT
05-12 03-08 VARIED 0 0
0 0 0
0 0
FRGHT FWRD 06-01 00-00 NET 30 24100
1400 100 0 0
0 0
FRGHT FWRD 05-09 05-09 VARIED 900
400 100 0 0
0 0
HEATNG& A/C 06-05 00-00 CONTRCT 6900 600
100 0 0 0 0
LEASING
07-06 00-00 CONTRCT 300
0 0 0
0 0 0
LUMBR& WOOD 05-02 00-00 NET 30 500
0 0 0
0 0 0
MANUFCTRNG 04-11 04-09 VARIED 2100
600 0 100 0
0 0
MEAT PROD
06-06 00-00 NET 30 0 0
0 0 0
0 0 CUST 10 YR
METAL DIST 06-02 06-03 5/10N30 100000 100000
28 5 4
63 0
PAINTS
04-12 00-00 VARIED 3200 3200
0 100 0 0 0
PAINTS
06-08 06-07 NET30 200 200
100 0 0 0 0
PLBG& HTNG
05-01 04-12 VARIED 22100 3000 93
7 0 0
0 CUST 12 YR
PRNTG SUPL 07-03 98-09 NET 30 900
0 0 0
0 0 0
CUST 9 YR
TEMP HELP
05-03 05-02 NET 30 900 200
0 100 0 0 0
TRANSPORTN 04-09 04-08 VARIED 500
500 0 100 0
0 0
WHLSE TRAD 05-08 00-00 NET 30 2000
200 100 0 0 0 0
CURRENT QUARTER 706000 160500
92 5 3
0 0
Payment Trends
INDUSTRY BUSINESS BALANCE
CUR 1- 31- 61-
DATE
CUR DBT DBT $
% 30 60
90 91+
--------
--- --- --- -------- --- --- --- --- ---
20070700
0 5 4 170000 87
7 6 0 0
20070600
0 4 3 157800 87
10 3 0 0
20070500
0 4 3 144900 87
11 1 1 0
20070400
0 4 2 120500 90
9 1 0 0
20070300
0 4 10 213000 42
57 0 0 1
20070200
0 4 10 231100 44
53 1 1 1
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
Second
2007 3 157000 88
9 3 0 0
First
2007 8 188200 53
45 1 1 0
Fourth
2006 4 221900 85
11 3 1 0
Third
2006 5 263100 85
6 9 0 0
Second
2006 2 216200 88
11 1 0 0
FINANCIAL INFORMATION
We could not obtain
financial statements from management, however outside sources consulted report
annual sales to be US$2.0 million.
CURRENT OPERATIONS
NAICS Code: 42
Wholesale Trade
Number of Employees
: 1,000
Business Activity:
The Subject is
engaged in the marketing and sales of Trane heating, air conditioning,
refrigeration equipment and systems.
The above address is
the headquarters and sole location for the Firm.
PUBLIC RECORD
A nationwide search
of public and bankruptcy courts shows no Uniform Commercial Codes, tax liens,
legal actions or bankruptcy filings under the Subject's name.
GENERAL COMMENTS
Trane India LTD. is
a well established company engaged as an wholesaler of heating and cooling
equipment. Payment record is satisfactory and a search of public records and
bankruptcy courts revealed no derogatory information filed against the Company
nor any bankruptcies filed by the Company.
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. |
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%)