MIRA INFORM REPORT

 

 

Report Date :

24.01.2007

 

IDENTIFICATION DETAILS

 

Name :

NORCA INDUSTRIAL LLC

 

 

Registered Office :

185 Great Neck Road, Great Neck, New York 11022                       

 

 

Country :

UNITED STATES               

 

 

Date of Incorporation :

16/12/1998

 

 

Legal Form :

Corporation – Private

 

 

Line of Business :

Distributor of industrial fluid handling materials in stainless steel, carbon steel, alloy steel and aluminum

 

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 : NORCA INDUSTRIAL LLC

Address                        : 185 GREAT NECK ROAD

City                              : GREAT NECK

State/Province               : NEW YORK                            

Zip Code                       : 11022                       

Country                         : UNITED STATES               

Telephone                     : 516 466-9500               

Facsimile                      : 516 482-3367                   

Legal Form                    : Corporation - Private

As of                             :

Sales / Revenue :

Net Income                    :

Total Equity                   :

Number of Employees    : 20

Website                        : www.norca.com

Business Activity           : The Subject is a distributor of industrial fluid handling materials in stainless

                                      steel, carbon steel, alloy steel and aluminium.

 

 

NOTE TO CLIENT

 

Person contacted: Mr. Joe Catania, Vice President.

 

 

LEGAL

 

Legal Form                                : Corporation - Private

Since (D/M/Y)                            : 16/12/1998

State/Province of Incorporation    : NY

Status                                       : ACTIVE

Previous Legal Form:

Company is NOT required to publish an annual financial report.

 

Current Entity Name: NORCA INDUSTRIAL LLC

Initial DOS Filing Date: DECEMBER 16, 1998

County: NASSAU

Jurisdiction: NEW YORK

Entity Type: DOMESTIC LIMITED LIABILITY COMPANY

Current Entity Status: ACTIVE

 

Selected Entity Address Information DOS Process

NORCA INDUSTRIAL LLC

185 GREAT NECK ROAD

4TH FLOOR

GREAT NECK, NEW YORK, 11022

Registered Agent

C T CORPORATION SYSTEM

111 EIGHTH AVENUE

NEW YORK, NEW YORK, 10011

 

NOTE: New York State does not issue organizational identification numbers.

 

 

Managers/Key Personnel

 

Mr. Selim Behar                        President

Mr. Joe Catania                        Vice President

 

 

AFFILIATED ENTITIES

 

There are no affiliated businesses at this time.

 

 

BANKS

 

Israel Discount Bank Ltd.

NY

Telephone:

Facsimile:

Account Number:

Account Manager:

 

Branch details and bank reference authorization were not provided at this time.

 

 

PAYMENT HISTORY

 

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

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

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

 AIR TRANS  06-10 00-00 0000000 500      500      81  19  0   0   0   CUST 10 YR

 BUS SERVCS 07-01 00-00 NET 7   500      500      100 0   0   0   0

 

 COMPUTERS  07-01 03-09 CREDIT  15000    0        0   0   0   0   0

 FRGHT FWRD 06-10 06-09 NET 15  1500     1500     0   100 0   0   0   SATSFTRY

 OFFC SUPPL 07-01 00-00 CREDIT  1400     0        0   0   0   0   0

 PETROLEUM  06-12 06-12 VARIED  1300     1100     100 0   0   0   0   ACCTCLOSED

 TRUCK DLR  07-01 00-00 CONTRCT 3700     3700     0   0   0   100 0

 AIR TRANS  05-12 00-00 NET 30  0        0        0   0   0   0   0   CUST  3 YR

 AUTO LEASE 06-02 00-00 VARIED  21800    0        0   0   0   0   0   CUST  6 YR

 CELLUL/PAG 05-11 05-10 NET 30  100      0        0   0   0   0   0   CUST 12 YR

 COMPUTERS  04-02 00-00 NET 30  0        0        0   0   0   0   0

 COMPUTERS  06-06 05-08 0000000 0        0        0   0   0   0   0

 CRED CARD  07-01 06-12 REVOLVE 600      300      100 0   0   0   0   CUST 20 YR

 CRED CARD  07-01 06-12 REVOLVE 300      100      100 0   0   0   0   CUST 26 YR

 CRED CARD  04-05 04-05 NET 30  400      0        0   0   0   0   0   CUST 23 YR

 FACTOR     05-12 00-00 NET 30  900      900      0   100 0   0   0

 FACTOR     04-11 00-00 VARIED  0        0        0   0   0   0   0

 FINCL SVCS 05-08 05-07 CONTRCT 22200    0        0   0   0   0   0   ACCTCLOSED

 LEASING    05-02 00-00 CONTRCT 3100     0        0   0   0   0   0   CUST  1 YR

 PETROLEUM  04-10 00-00 VARIED  1100     900      100 0   0   0   0   PROMPT

 CURRENT QUARTER                23900    7300     27  22  0   51  0

 

 Payment Trends

            INDUSTRY     BUSINESS        BALANCE  CUR 1-  31- 61-

 DATE      CUR    DBT       DBT             $      %  30  60  90  91+

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

 20070100  0      9         27           7100     26  22  52  0   0

 20061200  0      9         12           6800     22  78  0   0   0

 20061100  0      8         4            6700     76  24  0   0   0

 20061000  0      8         0            5000     100 0   0   0   0

 20060900  0      8         0            1800     100 0   0   0   0

 20060800  0      11        0            1600     100 0   0   0   0

 

 Payment History - Quarterly Averages

                                         BALANCE  CUR 1-  31- 61-

 QUARTER  YEAR              DBT             $      %  30  60  90  91+

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

 Fourth   2006              8            3200     50  50  0   0   0

 Third    2006              0            900      100 0   0   0   0

 Second   2006              0            1300     100 0   0   0   0

 First    2006              0            900      100 0   0   0   0

 Fourth   2005              0            1400     97  3   0   0   0

 

 

FINANCIAL INFORMATION

 

Mr. Catania, Vice President, confirmed general information and stated that sales of the Company are over $50 million US Dollars. Further financial details were not provided, however he did state that operations are profitable.

 

 

CURRENT OPERATIONS

 

NAICS Code:   42184     Industrial Supplies Wholesalers

SIC Code:     5085

 

Number of Employees:              20  

 

Business Activity:

The Subject is a distributor of industrial fluid handling materials in stainless steel, carbon steel, alloy steel and aluminium.

 

The Subject distributes a variety of fittings, flanges, valves, piping and tubing, and other related materials.

 

 They currently operate from 5,172 square feet of leased space at the heading address.

 

There are no branch locations, they do have a sales office in California.

 

Address details were not provided.

 

 

 

 

PUBLIC RECORD

 

We found no public record filings in the Subject's name, including bankruptcy or other such derogatory filings.

 

 

GENERAL COMMENTS

 

The Subject was registered in 1998. The payment history of the Company is generally satisfactory with some minor slowness noted, the operating record is clear. No derogatory information was reported or noted. The Company is considered responsible for normal business transactions.

 

 

 

 

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions