MIRA INFORM REPORT

 

 

Report Date :

24th January, 2007

 

IDENTIFICATION DETAILS

 

Name :

ICC CHEMICAL CORPORATION

 

 

Registered Office :

460 Park Avenue, 7th Floor, New York, 10022, United States

 

 

Country :

United States

 

 

Date of Incorporation :

1955

 

 

Legal Form :

Corporation - Private

 

 

Line of Business :

Distributors and traders of specialty petro-chemicals, plastics and pharmaceuticals.

 

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 :

Usually Correct

 

 

Litigation :

Clear

 

 

 

 

 

IDENTIFICATION & EXECUTIVE SUMMARY

 

Company Name:            ICC CHEMICAL CORPORATION

Address:                       460 Park Avenue, 7th Floor

City:                             NEW YORK                    

State/Province:              NEW YORK                             

Zip Code:                      10022                       

Country:                                    UNITED STATES               

Telephone:                    212 521-1700                

Facsimile:                     212 521-1950                

Legal Form:                   Corporation - Private

Founded (D/M/Y):              /  /1955

Website:                       www.iccchem.com

As of:

Sales / Revenue:

Net Income:

Total Equity:

Number of Employees:   50

 

Business Activity:

The Company is a distributor and trader of specialty petro-chemicals, plastics and pharmaceuticals.

 

 

NOTE TO CLIENT

 

Credit Manager, Mr. Howard Newman provided very general information and the abruptly terminated a telephone interview. The financial controller also declined to provide any information regarding the subject company.

 

 

LEGAL

 

Legal Form: Corporation - Private        

Since (D/M/Y):  08/05/1985            

State/Province of Incorporation:  New York

Status: ACTIVE

Previous Legal Form:

Company is NOT required to publish an annual financial report.

Legal Name:                              ICC CHEMICAL CORPORATION

Initial DOS Filing Date:               MAY 08, 1985

County:                                     NEW YORK

Jurisdiction:                               NEW YORK

Entity Type:                               DOMESTIC BUSINESS CORPORATION

Current Entity Status:                 ACTIVE

DOS Process (Address to which DOS will mail process if accepted on behalf of the entity)

ICC CHEMICAL CORPORATION

460 PARK AVE

NEW YORK, NEW YORK 10022

Registered Agent NONE

 

Managers/Key Personnel

 

Mr. John Farber                        Chairman Of The Board Of Directors

Mr. William Brunger                               President &  Chief Executive Officer

Mr. James Muller                                   Vice President - Finance

Mr. Susan Aibinder                                Treasurer

 

 

AFFILIATED ENTITIES

 

No Subsidiaries or Divisions.

 

As noted, the ultimate parent company is ICC Industries Inc. which reported many affiliate companies, including:

-J.M. Shipping &  Trading

-ICC Chemical SRO

-Interlube S.L.

-ICC Handels AG

-Fallek Chemical

-Prior Chemical

-Rossi Comercial Imp. Exp. Ltda.

-ICC (Hong Kong) Ltd.

-ICC Italia S.R.L.

-FALLEK CHEMICAL COMPANY

-PRIOR CHEMICAL CORPORATIO

-PRIOR ENERGY CORPORATION

-ICC ISREAL CHEMICALS LTD.

 

 

Parent Companies

 

Ultimate Parent:   ICC INDUSTRIES INC.

460 Park Avenue

NEW YORK NY10019

UNITED STATES

 

The Company declined to disclose any financial information pertaining to the Parent Company.

 

The Parent company is a manufacturer of chemicals, plastics and pharmaceuticals.

 

 

BANKS

 

State Bank of India

460 Park Ave # 2

New York NY 10022

Telephone: (212) 521-3200

Facsimile:

Account Number:

Account Manager:

Requires an account number which was declined.

 

 

PAYMENT HISTORY

 

BUSINESS   DATE  LAST  PAYMENT CREDIT   BALANCE  CUR 1-  31- 61-

CATEGORY   REPTD SALE  TERMS      $        $      %  30  60  90  91+ COMMENTS

---------- ----- ----- ------- -------- -------- --- --- --- --- --- --------

AIR TRANS  05-12 00-00 NET 30  100      0        0   0   0   0   0   CUST  2 YR

COMPUTERS  06-04 05-12 0000000 600      0        0   0   0   0   0

 

FACTOR     06-03 05-11 NET     1900     0        0   0   0   0   0   CUST  6 YR

FRGHT FWRD 06-04 99-01 NET 30  0        0        0   0   0   0   0

OIL REFNG  05-12 00-00 UNK     962700   879500   100 0   0   0   0

SAFTY PROD 06-03 00-00 NET 30  600      0        0   0   0   0   0   CUST  2 YR

COMPUTERS  05-05 00-00 CREDIT  0        0        0   0   0   0   0   CUST 37 YR

MANUFCTRNG 03-05 02-04 VARIED  27700    27700    0   0   0   0   100

TRANSPORTN 05-07 00-00 NET 15  0        0        0   0   0   0   0   ACCTCLOSED

CURRENT QUARTER                965900   879500   100 0   0   0   0

 

Payment Trends

 

           INDUSTRY     BUSINESS        BALANCE  CUR 1-  31- 61-

DATE      CUR    DBT       DBT             $      %  30  60  90  91+

--------  ---    ---       ---          -------- --- --- --- --- ---

20060400  0      7         0            879500   100 0   0   0   0

20060300  0      7         0            879500   100 0   0   0   0

20060200  0      7         0            880400   100 0   0   0   0

20060100  0      6         0            880100   100 0   0   0   0

20051200  0      7         0            0        0   0   0   0   0

20051100  0      6         0            0        0   0   0   0   0

 

Payment History - Quarterly Averages

                                            BALANCE  CUR 1-  31- 61-

QUARTER  YEAR              DBT             $      %  30  60  90  91+

-------- ------            ---          -------- --- --- --- --- ---

First    2006              0            0        0   0   0   0   0

Fourth   2005              0            0        0   0   0   0   0

Third    2005              0            0        0   0   0   0   0

Second   2005              8            1300     74  11  15  0   0

First    2005              0            600      100 0   0   0   0

 

 

FINANCIAL INFORMATION

 

No financial figures regarding the subject company could be obtained at the time of this report.

 

 

HISTORY

 

The Company was founded by Dr. John Farber, who currently holds the office of Chairman of the Board.

 

Dr. John Farber, Chairman of the Board, received an undergraduate degree from the University of Cluj in Romania.  He continued his education at the

the University of Cluj in Romania where he received a masters degree.  He then continued his education at the Polytechnic Institute where he received his doctorate.

 

The Company states that it has been involved with trading chemicals, plastics and pharmaceuticals throughout the world for approximately 50 years.

 

In November, 1998 " Forbes Magazine"  listed the ultimate parent company, ICC INDUSTRIES, INC. number 173 among the 500 privately owned company's in theUni States.

 

 

CURRENT OPERATIONS

 

NAICS Code:            42269     Other Chemical and Allied Products Wholesalers

SIC Code:                5169

 

Number of Employees:  50

 

 

Business Activity

 

The Company isa distributor and trader of specialty petro-chemicals,  plastics and pharmaceuticals.

The products offered by ICC CHEMICAL CORPORATION include items such as; Acetone, Adipic Acid, Benzyl Alcohol, Caprolactam, Itaconic Acid, MDI, Methyl Ethyl Ketone, N-Butanol (NBA), Fumaric Acid, Hexylene Glycol, Isophorone, Pine Oil, TDI and Titanium Dioxide.

 

It also offers the chemical and plastic products for delivery in trucks, railcars, isocontainers, drums and other packaged forms as requested by the customer.

 

The Subject sells internationally to wholesalers, manufacturers and other trading companies. The headquarters, is at the above-noted address. The facility is reported to be 13,000 square feet. The Company also has offices in New York, New York; Houston, Texas; and Chicago, Illinois.  In addition to the office locations, on occasion the Company will utilize public warehouse space as needed. The Company also has affiliated regional representatives in Argentina, Brazil, Germany, India, Korea, Poland, Spain, Taiwan and Turkey.

 

There are several independent sales representatives, located in Chicago and Houston, as well as various other cities across the United States, well as internationally.

 

 

PUBLIC RECORD

 

No liens, judgments or bankruptcy filings were found:

 

Name Searched       : ICC CHEMICAL CORP

Debtor Address        : ICC CHEMICAL CORPORATION

                                 460 PARK AVENUE, NEW YORK, NY 10022

Secured Parties       : BROWN BROTHERS HARRIMAN &  CO.

Filing Date               : 9/24/2001

Filing Number           : 01181606

Filing Type               : INITIAL FILING

--------------------------------------------------------------------------------

Name Searched       : ICC CHEMICAL CORP

Debtor Address        : ICC CHEMICAL CORP

                                460 PARK AVENUE, NEW YORK, NY 10022

Secured Parties       : THE DEVELOPMENT BANK OF SINGAPORE, LOS ANGELES AGENCY

Filing Date               : 1/15/2003

Filing Number           : 0301150107576

Filing Type               : INITIAL FILING

--------------------------------------------------------------------------------

Name Searched       : ICC CHEMICAL CORP

Debtor Address        : ICC CHEMICAL CORPORATION

                                 460 PARK AVENUE, NEW YORK, NY 10038

Secured Parties       : STANDARD CHARTERED BANK

Filing Date               : 5/2/2003

Filing Number           : 0305020926117

Filing Type               : INITIAL FILING

--------------------------------------------------------------------------------

Name Searched       : ICC CHEMICAL CORP

Debtor Address        : ICC CHEMICAL CORPORATION

                                 460 PARK AVENUE, NEW YORK, NY 10022

Secured Parties       : BROWN BROTHERS HARRIMAN &  CO.

Filing Date               : 9/27/2001

Filing Number           : 01184770

Filing Type               : INITIAL FILING

--------------------------------------------------------------------------------

 

Name Searched       : ICC CHEMICAL CORP

Debtor Address        : ICC CHEMICAL CORPORATION

                                 460 PARK AVENUE, NEW YORK, NY 10022

                                 ICC TRADING INCORPORATED

                                 460 PARK AVENUE, NEW YORK, NY 10022

                                 ICC INDUSTRIES INCORPORATED

                                 460 PARK AVENUE, NEW YORK, NY 10022

Secured Part

Filing Date               : 11/20/2002

Filing Number           : 0211202603621

Filing Type               : INITIAL FILING

--------------------------------------------------------------------------------

Name Searched       : ICC CHEMICAL CORP

Debtor Address        : ICC CHEMICAL CORPORATION

                                 460 PARK AVENUE, NEW YORK, NY 10038

Secured Parties       : STANDARD CHARTERED BANK

Filing Date               : 5/2/2003

Filing Number           : 0305020926066

Filing Type               : INITIAL FILING

 

 

GENERAL COMMENTS

 

ICC CHEMICAL CORPORATION is well established with operations dating from 1985. Payments appear to be made on time. The operation history is clear. The firm is considered to be responsible for normal business transactions at this time.

 

 

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

 

 

 

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