MIRA
INFORM REPORT
|
Report Date : |
10th
February, 2007 |
|
Tel. No.: |
(414)
671 7790 |
|
Fax No.: |
(414)
671 7388 |
IDENTIFICATION
DETAILS
|
Name : |
HARNISCHFEGER CORPORATION |
|
|
|
|
Registered Office : |
4400 West National Avenue, Milwaukee, Wisconsin 53214, United States |
|
|
|
|
Country : |
United States |
|
|
|
|
Date of Incorporation : |
03.11.1971 |
|
|
|
|
Legal Form : |
Corporation - Private |
|
|
|
|
Line of Business : |
Manufactures and services excavating and
drilling machinery. |
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
IDENTIFICATION & EXECUTIVE
SUMMARY
Company Name : HARNISCHFEGER CORPORATION
Trade Name(s) : P& H Mining Equipment
Address : 4400 West National Avenue
City : Milwaukee
State/Province : WISCONSIN
Zip Code : 53214
Country : UNITED STATES
Telephone : 414 671-4400
Facsimile : 414 671-7236
Legal Form : Corporation - Private
Website : www.phmining.com
@rating Opinion :
Business Activity : The Subject manufactures and services excavating and drilling machinery.
As of :
Sales / Revenue :
Net Income :
Total Equity :
Number of Employees : 2,700
NOTE TO CLIENT
The Subject was contacted on February 7, 2007. Mr. Guilhermer Santos, Controller, declined to provide information over the phone and asked for our questions in writing, we have faxed a written request for information. On February 8, 2007, a follow up telephone call was placed to Mr. Santos regarding our written inquiry. As he was unavailable we left him a voice mail message. If a response is received this report will be amended and forwarded on.
LEGAL
Legal Form : Corporation - Private
Since (D/M/Y) : 03/11/1971
State/Province of Incorporation : DE
Status : ACTIVE
Previous Legal Form:
Company is NOT required to publish an annual financial report.
The Subject is incorporated in the State of Delaware under the following registration:
File Number : 0776210
Incorporation Date / Formation Date : 11/03/1971 (mm/dd/yyyy)
Entity Name : HARNISCHFEGER CORPORATION
Entity Kind : CORPORATION
Entity Type : GENERAL
Residency : DOMESTIC
State : DE
REGISTERED
AGENT INFORMATION
Name : CORPORATION SERVICE COMPANY
Address : 2711 CENTERVILLE ROAD SUITE 400
City : WILMINGTON County: NEW CASTLE
State : DE Postal Code: 19808
==
The Subject is registered in the State of Wisconsin under the following registration:
Entity Name : HARNISCHFEGER CORPORATION
Entity ID : 2H00904
Effective Date : 1/19/1972
Entity Type : Foreign
Foreign State : DE
Registered Agent : LEXIS DOCUMENT SERVICES INC
25 WEST MAIN STREET, MADISON, WI 53703
Managers/Key Personnel
Mr. Mark E. Readinger President
Mr. Donald C. Roof Chief Financial Officer
Mr. Sean Bradley Officer
AFFILIATED ENTITIES
Joy Technologies Inc. (d.b.a. Joy Mining Machinery)
Joy Global ULC
Joy Global Industries Ltd.
Joy Mining Machinery Ltd.
Joy Global (South Africa) (Proprietary) Ltd.
Harnischfeger Corporation of Canada Ltd.
HCHC, Inc.
Joy Global Bermuda
Joy Manufacturing Company Pty. Ltd
Cram Australia Pty. Ltd.
Jobic Pty. Ltd.
Harnischfeger of Australia Pty. Ltd
Harnischfeger de Chile Ltda.
MinePro Chile S.A.
Harnischfeger do Brasil Comercio e Industria Ltda.
The Horsburgh & Scott Company
American Alloy Corporation
Parent Companies
Parent Company: JOY GLOBAL INC.
100 East Wisconsin Avenue, Suite 27
80
Milwaukee WI 53202
UNITED STATES
Joy Global Inc. trades stock on NASDAQ under the symbol " JOYG" .
Key
Consolidated Figures of Joy Global Inc. and its Subsidiaries
(In
millions of USD)
Quarterly (Oct '06) Annual (2006) Annual (2005)
Income Statement
Total Revenue 689.31 2,401.71
1,927.47
Gross Profit 215.91 755.12
561.98
Operating Income 131.81 449.22
237.07
Net Income 85.23
416.42 148.05
Balance Sheet
Total Current Assets 1,227.88 1,227.88 1,116.68
Total Assets 1,954.01 1,954.01
1,648.53
Total Current Liabilities 599.98 599.98
599.51
Total Liabilities 1,034.38
1,034.38 980.90
Total Equity 919.63 919.63
667.63
BANKS
Deutsche Bank
WI
Telephone:
Facsimile:
Account Number:
Account Manager:
A reference could not be obtained in absence of an account number and written authorization which could not be obtained.
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 3500
1200 89 11
0 0 0 CUST 20 YR
CONST MACH 07-01 00-00 NET 0
0 0 0 0
0 0
ELEC DISTR 06-12 06-12 VARIED 400800
400800 82 16
2 0 0 CUST 1 YR
ELEC EQUIP 06-12 06-01 CONTRCT 15100 2300
0 0 0 0 100
ELEC SUPLR 06-12 01-02 NET 30 4200
0 0 0
0 0 0 CUST 6 YR
FACTOR
06-11 05-07 NET 30 0 0 0 0 0
0 0
FACTOR
07-01 06-12 0000000 5600
5600 65 35
0 0 0
FACTOR
07-01 00-00 NET 0 0 0 0 0
0 0 CUST 7 YR
FINCL SVCS 07-01 00-00 VARIED 0
0 0 0 0
0 0
FINCL SVCS 07-01 00-00 CONTRCT 0 0 0 0 0
0 0 CUST 1 YR
FREIGHT
07-01 06-12 VARIED 168800 114500
89 11 0 0 0
FRGHT FWRD 07-01 05-01 NET 30 0
0 0 0
0 0 0
FRGHT FWRD 07-01 03-09 NET 30 0
0 0 0
0 0 0
INDUS MACH 06-12 00-00 NET 30 700
0 0 0
0 0 0
INDUS SUPL 06-12 06-12 VARIED 2800
0 0 0
0 0 0 CUST 3 YR
MACH DISTR 07-01 06-11 1/10N30 2200 0 0 0
0 0 0 CUST 7 YR
MACHINERY
07-01 00-03 NET 30 0 0 0 0 0
0 0
MANUFCTRNG 06-12 06-12 NET 30 202000
150600 98 1
0 0 1 CUST 2 YR
METAL
06-10 00-00 2/10NET 19800
0 0 0
0 0 0
METAL
06-10 00-00 2/10NET 0
0 0 0
0 0 0
METL FNSHG 07-01 00-00 NET 30 100
0 0 0
0 0 0
MISC MANUF 06-12 07-01 VARIED 67300
15100 80 17
0 0 3
MUSIC INST 06-11 00-00 VARIED 0
0 0 0
0 0 0 CUST 3 YR
MUSIC INST 06-11 06-08 NET 30 0
0 0 0
0 0 0
PACKAGING
07-01 05-10 NET 30 100 0
0 0 0 0 0
CUST 2 YR
PAINTS
07-01 00-12 VARIED 0 0 0 0 0
0 0 WRITE-OFF
PAINTS
07-01 06-12 1/10PRX 300
100 100 0 0
0 0
PAINTS
06-12 06-09 NET30 700 200
1 99 0 0 0
PAPER PROD 07-01 06-06 0000000 2900 0
0 0 0 0 0
PLUMBING
06-12 06-12 NET 10 15900 14400
21 76 3 0
0
TEMP HELP
07-01 00-00 NET 10 58500 20000
45 21 34 0 0
CUST 4 YR
TELECOM
07-01 00-00 NET30 3900 3300
98 1 0 1 0
TRANSPORTN 07-01 00-00 NET 20 0
0 0 0
0 0 0 CUST 11 YR
TRUCK DLR
07-01 00-00 CONTRCT 11700
300 0 100 0
0 0
AIR TRANS
05-12 00-00 NET 30 6800 1600
86 8 4 0 2
CUST 18 YR
AUTOMOTIVE 06-09 05-11 NET 30 900
0 0 0
0 0 0 CUST 9 YR
BANK
06-03 99-06 NET 30 32600 3100
0 0 0 0 100 WRITE-OFF
BLDG MATRL 06-09 06-09 VARIED 47100
14900 94 2
0 4 0
BUS SERVCS 04-11 04-10 NET 30 9600
9600 100 0 0
0 0
COMMUN SVC 06-08 00-00 NET 20 0
0 0 0
0 0 0 WRITE-OFF
COMPUTERS
05-05 00-00 NET 30 0 0 0 0 0
0 0 CUST 37 YR
COMPUTERS
04-07 00-00 NET 30 7900 7900
100 0 0 0
0
COMPUTERS
04-02 00-00 NET 30 0 0 0 0 0
0 0
COMPUTERS
04-10 00-00 NET 30 5500 5500
0 0 100 0 0
COMPUTERS
06-06 06-05 0000000 7000
200 0 0
100 0 0
CONST MACH 06-06 06-03 N10PRXO 12300 0
0 0 0 0 0
CUST 10 YR
ELEC DISTR 06-09 00-00 CONTRCT 0 0 0 0 0
0 0 PROMPT
ELEC SUPLR 05-11 00-00 N10PRXO 0 0 0 0 0
0 0
ELEC SUPLR 04-06 97-01 2/10N30 0 0 0 0 0
0 0
ELEC SUPLR 05-04 00-00 VARIED 5000
1700 100 0 0
0 0
FINCL SVCS 06-02 00-00 NET 20 900
900 100 0 0
0 0
FOOD DISTR 05-11 05-11 UNK 8500
1700 100 0 0
0 0
FREIGHT
06-09 06-09 VARIED 36800 17400
39 61 0 0 0
INDUS SUPL 06-06 01-06 NET 30 8200
0 0 0
0 0 0 CUST 10 YR
INDUS SUPL 04-12 99-04 COD 44100
0 0 0
0 0 0 CUST 13 YR
INDUS SUPL 06-06 98-12 COD 166000
0 0 0
0 0 0 CUST 8 YR
IRON& STEEL 05-06 00-00 NET 30 53700
400 0 0
0 100 0
LEASING
05-02 00-00 NET 30 16900 16900 27 26
19 14 14
MANUFCTRNG 04-02 00-00 NET 30 3800
3800 100 0 0
0 0
MED EQUIP
06-01 00-00 NET 30 0 0 0 0 0
0 0
MED SUPPLY 06-04 00-00 VARIED 9500
8500 5 70
0 0 25
METAL DIST 04-05 04-05 NET EOM 39300 39300
17 83 0 0 0
METL FNSHG 04-03 00-00 NET 30 23500
23500 71 29
0 0 0
MISC MANUF 06-09 06-09 VARIED 30000
19900 100 0 0
0 0
MUSIC INST 06-06 00-00 NET 30 0
0 0 0
0 0 0
NONFER MTL 04-11 00-00 NET 30 0
0 0 0
0 0 0 CUST 17 YR
OPTIC SUPL 05-05 00-00 NET EOM 100 100
0 0 0 100 0 CUST
2 YR
PAINTS
04-12 00-00 VARIED 2900 700
0 0 0 0 100
PETROLEUM
06-01 00-00 NET 10 0 0 0 0 0
0 0
PRI METALS 04-02 04-02 VARIED 52300
52300 54 0
46 0 0
SAFTY PROD 06-03 00-00 NET 30 1900
0 0 0
0 0 0 CUST 6 YR
TELECOM
05-06 00-00 NET 30 0 0 0 0 0
0 0
TELECOM
06-08 06-07 NET 30 4600 100
100 0 0 0
0 EXLENT ACC
TELECOM
05-08 00-00 NET 30 500 0
0 0 0 0 0
TRANSPORTN 05-12 00-00 CONTRCT 20200 17500
0 99 1 0 0
TRANSPORTN 04-05 00-00 VARIED 0
0 0 0
0 0 0
TRANSPORTN 06-07 00-00 NET 15 0
0 0 0
0 0 0 ACCTCLOSED
TRNS EQUIP 04-02 00-00 COD 0
0 0 0
0 0 0 CUST 4 YR
WAREHOUSE
04-03 00-00 VARIED 0 0
0 0 0 0
0 PROMPT
WHLSE TRAD 04-02 03-07 NET 30 2200
0 0 0
0 0 0 CUST 19 YR
ADMIN
05-05 00-00 CREDIT 0 0 0 0 0
0 0
CURRENT QUARTER 986900
728400 84 13
2 0 1
Payment Trends
INDUSTRY
BUSINESS BALANCE CUR 1-
31- 61-
DATE CUR DBT
DBT $ %
30 60 90 91+
-------- --- ---
--- -------- --- --- ---
--- ---
20070100
0 0 4 718000 85
12 2 0 1
20061200
0 0 4 582800 81 17
1 0 1
20061100
0 0 4 679100 90 6
2 0 2
20061000
0 0 4 604300 91 3
3 2 1
20060900
0 0 4 519300 88
7 4 0 1
20060800
0 0 8 277700 71 22
5 0 2
Payment History - Quarterly Averages
BALANCE CUR 1-
31- 61-
QUARTER YEAR DBT $ %
30 60 90 91+
-------- ------
--- -------- --- --- ---
--- ---
Fourth
2006 3 657000 87 11 1
0 1
Third
2006 5 464600 86 8 4
1 1
Second
2006 6
322100 79 16 3 0
2
First
2006 5 335800 83 11 4
1 1
Fourth
2005 10 329800 77 10 6
5 2
FINANCIAL INFORMATION
The company does not release separate financial statements for public review as they are consolidated into those of the parent company. Please see PARENT COMPANY for consolidated financial figures.
CURRENT OPERATIONS
NAICS Code : 333131 Mining Machinery and Equipment Manufacturing
SIC Code : 3532
Number of Employees: 2,700
Business Activity
The Subject manufactures and services excavating and drilling machinery.
The Subject has two business segments: underground mining machinery and surface mining machinery. The equipment includes large excavating and drilling machines used to mine copper, coal, iron ore, silver, gold, diamonds, oilsands, phosphate, molybdenum, potash and other minerals and bedded materials. Sales are on an international basis.
The heading address is the Subject's headquarters; the Subject has several branch location througout the world.
PUBLIC RECORD
Name Searched : HARNISCHFEGER CORP
Debtor Address : HARNISCHFEGER CORP INC
4400 W NATIONAL AVE, MILWAUKEE, WI 53214
Secured Parties : CD LEASING LLC
Filing Date : 3/2/2001
Filing Number : 07502040559
Filing Type : INITIAL FILING
==
Name Searched : HARNISCHFEGER CORP
Debtor Address : HARNISCHFEGER CORP
4400 W NATIONAL AVE, MILWAUKEE, WI 53214
Secured Parties : GFC LEASING DIV GORDON FLESCH CO INC
Filing Date : 5/1/2000
Filing Number : 07501951212
Filing Type : INITIAL FILING
==
Name Searched : HARNISCHFEGER CORP
Debtor Address : HARNISCHFEGER CORPORATION
P.O. BOX 310, MILWAUKEE, WI 53201
Secured Parties : AMERICAN INDUSTRIAL LEASING CO., INC. ST FRANCIS BANK
Filing Date : 10/7/2003
Filing Number : 030016525726
Filing Type : ASSIGNMENT
Original Filing Number : 030007457225
==
Name Searched : HARNISCHFEGER CORP
Debtor Address : HARNISCHFEGER CORP
4400 W NATIONAL AVE, MILWAUKEE, WI 53214
Secured Parties : ASSOCIATED BANK
Filing Date : 3/8/2000
Filing Number : 07501933996
Filing Type : INITIAL FILING
==
Name Searched : HARNISCHFEGER CORP
Debtor Address : HARNISCHFEGER CORPORATION
4400 WEST NATIONAL AVE, MILWAUKEE, WI 53214
Secured Parties : GFC LEASING
Filing Date : 7/30/2002
Filing Number : 020014162721
Filing Type : INITIAL FILING
==
Name Searched : HARNISCHFEGER CORP
Debtor Address : HARNISCHFEGER CORPORATION
P.O. BOX 310, MILWAUKEE, WI 53201
Secured Parties : AMERICAN INDUSTRIAL LEASING CO., INC.
Filing Date : 5/6/2003
Filing Number : 030007457225
Filing Type : INITIAL FILING
==
Name Searched : HARNISCHFEGER CORP
Debtor Address : HARNISCHFEGER CORPORATION OF CANADA LTD.
7326 10TH STREET NE, SUITE 300, CALGARY,ALBERTA
Secured Parties : JOY GLOBAL INC.
Filing Date : 7/13/2001
Filing Number : 010000488121
Filing Type : INITIAL FILING
==
Name Searched : HARNISCHFEGER CORP
Debtor Address : HARNISCHFEGER CORPORATION
100 EAST WISCONSIN AVENUE, SUITE 2780, MILWAUKEE, WI 53202
Secured Parties : BANKERS TRUST COMPANY, AS AGENT
Filing Date : 7/13/2001
Filing Number : 010000487928
Filing Type : INITIAL FILING
==
Name Searched : HARNISCHFEGER CORP
Debtor Address : HARNISCHFEGER CORPORATION OF CANADA LTD.
7326 10TH STREET NE, SUITE 300, CALGARY
Secured Parties : JOY GLOBAL INC. BANKERS TRUST COMPANY, AS AGENT
Filing Date : 12/21/2001
Filing Number : 010010484926
Filing Type : INITIAL FILING
==
Name Searched : HARNISCHFEGER CORP
Debtor Address : HARNISCHFEGER CORPORATION
4400 WEST NATIONAL AVE, PO BOX 310, MILWAUKEE, WI 53201-0310
JOY GLOBAL INC.
100 E WISCONSIN AVE., SUITE 2780, MILWAUKEE, WI 53202
Secured Parties : DATA SALES CO., INC.
Filing Date : 9/17/2001
Filing Number : 010004521921
Filing Type : INITIAL FILING
==
Name Searched : HARNISCHFEGER CORP
Debtor Address : HARNISCHFEGER CORP INC
4400 W NATIONAL AVE, MILWAUKEE, WI 53214
Secured Parties : CD LEASING INC
Filing Date : 7/17/2000
Filing Number : 07501974947
Filing Type : INITIAL FILING
==
Name Searched : HARNISCHFEGER CORP
Party Address : 4400 W NATIONAL AV, MILWAUKEE, WI 53214
Creditor : CRAIG CLEVELAND
Debtors : HARNISCHFEGER CORPORATION
Entered : 10/21/2003
Number : 03CV000770
Type : CIVIL NEW FILING
==
We have also conducted a nationwide search with bankruptcy courts, which have revealed no record of a firm by this name filing for bankruptcy.
GENERAL COMMENTS
HARNISCHFEGER CORPORATION manufactures and services excavating and drilling machinery. The Subject's payment history is reported to be satisfactory. There was a legal action lodged against the Firm, the status is uncertain as no further information is currently available at this time. Although no management interview could be conducted, we know the Company to be of good legal standing, with a clear operating history.
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 |
|