MIRA
INFORM REPORT
|
Report Date : |
30.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
SHORE CHEM LLC |
|
|
|
|
Registered Office : |
12 Route 17 North
Suite 203, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
03/08/2004 |
|
|
|
|
Legal Form : |
Corporation –
Private |
|
|
|
|
Line of Business : |
Distributor and
wholesaler of inorganic and organic chemicals. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: SHORE
CHEM LLC
Address: 12
ROUTE 17 NORTH
City:
State/Province: NEW
Zip Code: 07652
Country: UNITED
STATES
Telephone: 201
845 4666
Facsimile: 201
845 0719
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees:
9
Legal Form: Corporation
- Private
Website: www.shorechem.com
Business Activity: The Company is a distributor and wholesaler
of inorganic and organic chemicals.
NOTE TO CLIENT
Person Contacted:
Mr. Lindsay Logue, President
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 03/08/2004
State/Province of
Incorporation: NJ
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
Business Name: Shore
Chem, LLC
Business ID: 0600209761
Incorporation
Date: 08/03/2004
Status: Active
Home
Juridstiction: NJ
Resident Agent: Lindsay
Logue
12 Route 17 North
Managers/Key
Personnel
Mr. Lindsay
Logue President
Mr. Don Logue Vice President - Sales
AFFILIATED ENTITIES
There are no other
known affiliated companies.
Parent Companies
Parent Company: Royale Pigments and Chemicals, Inc,
12 Route 17 N,
UNITED STATES
Ultimate
Parent: Royal Group, Inc.
12 Route 17 N,
UNITED STATES
Telephone: 201-845-4666
The parent company
is private, however outside sources report annual revenue in the $1.45 billion
range.
BANKS
Commerce Bank
Telephone: 314 726
2255
Facsimile: 856 380
6066
Account Number:
Account Manager:
The bank requires written
authorization which was declined by management.
PAYMENT HISTORY
The Company is not a
seeker of local trade credit and as such a significant payment record could not
be developed.
FINANCIAL INFORMATION
Management declined
financial information and outside sources provided no insight into the
financial condition of the Company.
CURRENT OPERATIONS
NAICS Code: 4226
Chemical and Allied Products Wholesalers
Number of Employees
: 9
Business Activity:
The Company is a distributor
and wholesaler of inorganic and organic chemicals.
The Company
distributes chemicals throughout the
The heading address
is the company's sole location. We could not ascertain whether the facility is
owned or rented nor the square footage of the building.
TRADE REFERENCES
Supplier references
could not be obtained.
PUBLIC RECORD
Name Searched: SHORE CHEM LLC
Debtor Address: SHORE CHEM, LLC
12 ROUTE 17 NORTH,
Secured
Parties: COMMERCE BANK, N.A.
Filing Date: 7/27/2006
Filing Number: 23738942
Filing Type: INITIAL FILING
No legal issues, liens
or bankruptcy petitions were filed in the Subject's name.
GENERAL COMMENTS
The Company was
organized in 2004, engaged as a wholesaler and distributor or inorganic and
organic chemicals. No payment history was found for the Company. A search of
public and bankruptcy courts revealed no derogatory information or bankruptcy
petitions in the Company's name.
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%)