MIRA
INFORM REPORT
|
Report Date : |
16th
February, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
REPUBLIC TEXTILE EQUIPMENT COMPANY OF
SOUTH CAROLINA INC. |
|
|
|
|
Registered Office : |
111 Blackburn Street, P.O. Box 625, York , South Carolina 29745, United States |
|
|
|
|
Country : |
United States |
|
|
|
|
Date of Incorporation : |
19.11.1973 |
|
|
|
|
Legal Form : |
Corporation - Private |
|
|
|
|
Line of Business : |
Distributes used textile machinery
worldwide. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
IDENTIFICATION & EXECUTIVE
SUMMARY
Company Name : REPUBLIC TEXTILE EQUIPMENT COMPANY OF SOUTH CAROLINA INC.
Address : 111 BLACKBURN STREET, P.O. BOX 625
City : YORK
State/Province : SOUTH CAROLINA
Zip Code : 29745
Country : UNITED STATES
Telephone : 803 684-2321
Facsimile : 803 684-7252
Legal Form : Corporation - Private
Website : www.republictextile.com
@rating Opinion :
Business Activity : Republic Textile Equipment Company of South Carolina, Inc distributes used
textile machinery worldwide.
Founded (D/M/Y) : / /1935
As of :
Sales / Revenue :
Net Income :
Total Equity :
Number of Employees : 75
NOTE TO CLIENT
Contact person: Mr. Michael Diamond, President.
Mr. Diamond provided the information for this report.
LEGAL
Legal Form : Corporation - Private
Since (D/M/Y) : 19/11/1973
State/Province of Incorporation : SC
Previous Legal Form :
Company is NOT required to publish an annual financial report. The Company is registered in the state of South Carolina:
REPUBLIC TEXTILE EQUIPMENT COMPANY OF SOUTH CAROLINA, INC.
DOMESTIC / FOREIGN : Domestic
STATUS : Good Standing
STATE OF INCORPORATION : SC
ORGANIZATION : For Profit
REGISTERED
AGENT INFORMATION
REGISTERED AGENT NAME : MICHAEL K DIAMOND
ADDRESS : 111 BLACKBURN ST YORK SC 29745
FILE DATE : 11/19/1973
EFFECTIVE DATE : 11/19/1973
Managers/Key Personnel
Mr. Michael Diamond President
Mr. Douglas Diamond Vice President
AFFILIATED ENTITIES
The Company has an affiliate:
Republic Associates, Inc. South Carolina
The Company has no subsidiaries.
BANKS
Bank of York
Telephone: 803 684-2265
Facsimile:
Account Number:
Account Manager: Michael Hill
We have sent a fax to the bank. The report will be updated when we receive a response. These responses could take several days before we receive an answer.
PAYMENT HISTORY
BUSINESS DATE
LAST PAYMENT CREDIT BALANCE
CUR 1- 31- 61-
CATEGORY REPTD SALE TERMS
$ $ %
30 60 90 91+ COMMENTS
---------- ----- ----- ------- -------- -------- --- --- --- ---
--- --------
BLDG MATRL 07-01 07-01 VARIED 7400
700 100 0 0
0 0 CUST 10 YR
BLDG MATRL 07-01 00-00 CREDIT 9700
3300 100 0 0
0 0
FRGHT FWRD 07-01 06-12 NET 15 100
100 0 100 0
0 0 SATSFTRY
PACKAGING
07-01 06-11 NET 30 800 0
0 0 0 0 0
CUST 8 YR
PETROLEUM
07-01 06-12 VARIED 1600 1200
100 0 0 0
0 CUST 31 YR
TEMP HELP
07-01 00-00 NET 10 5000 1000
100 0 0 0
0 CUST 1 YR
AIR TRANS
05-04 00-00 100 0
0 0 0 0 0
AIR TRANS
05-12 00-00 NET 30 300 0
0 0 0 0 0
CUST 18 YR
CONSTRUCTN 06-07 00-00 N15PRXO 0 0 0 0 0
0 0
CRED CARD
06-02 00-00 REVOLVE 0
0 0 0
0 0 0 CUST 4 YR
ELEC MFG
04-03 03-10 NET 30 100 0
0 0 0 0 0
FINCL SVCS 04-03 04-03 CONTRCT 41600 0
0 0 0 0 0
ACCTCLOSED
FINCL SVCS 06-09 00-00 VARIED 600
600 100 0 0
0 0 CUST 2 YR
GENERAL
05-02 99-03 NET 30 0 0 0 0 0
0 0 CUST 7 YR
LEASING
04-04 00-00 VARIED 1300 1300
0 100 0 0
0
TRANSPORTN 04-06 04-05 VARIED 0
0 0 0
0 0 0
TRANSPORTN 06-09 00-00 NET 30 0
0 0 0
0 0 0 CUST < 1 Y
UTILITY
04-03 04-02 NET 15 1300 1300
100 0 0 0
0
CURRENT QUARTER 24500
6200 100 0 0
0 0
Payment Trends
INDUSTRY BUSINESS BALANCE CUR 1- 31- 61-
DATE CUR DBT
DBT $ %
30 60 90 91+
-------- --- ---
--- -------- --- --- ---
--- ---
20070100
0 5 0 5800 100
0 0
0 0
20061200
0 5 0 7900 100
0 0
0 0
20061100
0 5 0 7200 100
0 0
0 0
20061000
0 5 0 7200 100
0 0
0 0
20060900
0 5 0 5400 100
0 0
0 0
20060800
0 5 0 7200 100
0 0
0 0
Payment History - Quarterly
Averages
BALANCE
CUR 1- 31- 61-
QUARTER YEAR DBT $ % 30
60 90 91+
-------- ------
--- -------- --- --- ---
--- ---
Fourth
2006 0 7000 100 0 0 0
0
Third
2006 0 6400 100 0 0 0
0
Second
2006 0 9100 98 2 0
0 0
First
2006 0 5200 100 0 0 0
0
Fourth
2005 0 6800 100 0 0 0
0
FINANCIAL INFORMATION
Mr. Diamond stated the Company's net sales for 2006 are in the USD $10 Million range. Mr. Diamond declined to provide financial statements.
CURRENT OPERATIONS
NAICS Code: 333292 Textile Machinery Manufacturing
SIC Code: 3552
NAICS Code: 212231
Number of Employees: 75
Business Activity
Republic Textile Equipment Company of South Carolina, Inc distributes used textile machinery worldwide.
The Company exports used textile machinery and also handle the disposal of machinery and equipment that are acquired by banks and asset based lender at the end of lease terms or through other means of forced liquidation.
The above address is the headquarters. The facility is leased and is approximately 75,000 square feet.
The Company also has a storage facility in Shelby, North Carolina, used for storing used textile machinery.
PUBLIC RECORD
No legal actions were filed against the Subject nor were there any Uniform Commercial Codes.
A search of bankruptcy courts revealed no record of the Subject filing for bankruptcy.
GENERAL COMMENTS
The Company distributes used textile machinery throughout the United States. Payment history indicates that the Subject is efficient with its payments. Legal indicate no negative litigation taken against the Subject. Thus, the Company is considered to be responsible for normal business tranactions.
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 |
|