MIRA
INFORM REPORT
|
Report Date : |
12.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
TAYLOR STEEL INC. |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
01/01/1984 |
|
|
|
|
Legal Form : |
Corporation –
Private |
|
|
|
|
Line of Business : |
Processing and
selling of flat rolled steel. |
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: TAYLOR
STEEL INC.
Address: 260
CENTENNIAL PKY N P.O. BOX 33
City:
State/Province:
Zip Code: L8H
7L4
Country:
Telephone: (905)
662-4925
Facsimile: (905)
662-4928
As of:
Sales / Revenue:
Net Income:
Total Equity:
Legal Form: Corporation
- Private
Website: www.taylorsteel.com
Maj.
Shareholder: Mr. Michael W. Taylor
Business Activity: TAYLOR STEEL INC. is engaged in the
processing and selling of flat rolled steel.
NOTE TO CLIENT
Vice President of
Finance, Mr. Bill Bourque declined to provide information for this report. All
information was obtained through outside sources.
NOTE: The requested
address; P.O.
The correct physical
address is
LEGAL
Legal Form: Corporation –
Private
Since (D/M/Y): 01/01/1984
State/Province of
Incorporation: ON
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
Incorporation Number: 000573519
Effective Date:
1984/01/01
Provincial Charter /
Managers/Key
Personnel
Mr. Michael W.
Taylor President
Mr. Bill
Bourque Vice President - Finance
Mr. Marty
Stillman Controller
OWNERS
Mr. Michael W.
Taylor % Majority
AFFILIATED ENTITIES
There are no known
subsidiaries, divisions or parent companies.
Other Affiliates
Taylor Coil
Processing
2260 Industrial
Trace
Lordstown OH 44481
UNITED STATES
Telephone: (330)
824-8600
Facsimile: (330)
824-8700
BANKS
CANADIAN IMPERIAL
BANK OF COMMERCE
Telephone: (905)
572-3000
Facsimile: (877)
343-3323
Account Number:
Account Manager:
Deposit account,
Opened: For more than 3 years
Balance: Low 6 figures
Returned Cheque:
None, Frequency: In the last 3 months
Line of credit,
Opened: Not available
Authorized Amount:
Low 8 figures
PAYMENT HISTORY
------------------------------------------------------------------------------
Supplier's Name/Industry Terms Amount/Pay Habits/Comments
Rptd
Open Credit Credit
High Total Current
Past Due/Pay Period
Date
Date Limit Limit Dt. Credit Owing
$ 1st 2nd
3rd
------------------------------------------------------------------------------
Retail-Establishment:
*Jul 0 12,000 5,079
5,079 0 0
0
CITI COMMERCE SOLUTI: 800-233-8619 #
*Jul
4,000 0 0 0
0 0 0
Mfr-Pump &
Pumping E:
*Jun 0 7,487 7,487
549 6,938 0
0
WASTE MANAGEMENT: 519-886-4891
*Jun 0 447 447
203 244 0
0
Whlsl-Ind Mach Sppls:
*Jun 0 769 769
769 0 0
0
Mfr-Industrial Mach:
*Jun 0 632 632
632 0 0
0
Transportation Serv:
*Jun 0 3,417
3,417 2,028 1,389
0 0
Retail-Establishment:
*Jun 0 2,327 2,327
1,220 1,107 0
0
Whlsl-Ind Mach Sppls:
*Jun 0 2,699 1,895
1,738 157 0
0
Whlsl-Industrl Paper:
*Jun 0 8,416 8,416
0 0 8,416
0
Mfr-Wood Products:
*May 0 26,371 14,358
14,358 0 0
0
Business Services:
*Apr 0 3,410 3,157
3,157 0 0
0
Whlsl-Ind Mach Sppls:
*Apr 0 15,000 377
148 229 0
0
Whlsl Ferrs Nonferrs: Within Terms
*Apr 0 0 0
0 0 0
0
Mfr-Petroleum Prdts:
*Apr 0 38,980 38,980
38,980 0 0
0
ACKLAND GRAINGER CAN: 905-764-8989
*Apr 0 15,000 1,800
237 1,563 0
0
------- ------- ------- ------- -------
-------
P.I. =
10 90 Days 136K
89,141 69,098 11,627
8,416 0
Reported ------- ------- ------- ------- -------
-------
Wholesale-Elec Appls:
*Apr 0
5,000 940 0
940 0 0
Wholesale-Elec Equip:
*Feb 0 1,053 1,053
1,053 0 0
0
Wholesale-Hardware:
*Dec 0 193 193
160 33 0
0
Manufacturing Indust:
*Dec 0 10,000 593
0 593 0
0
Transportation Serv:
*Nov 0 66 66
0 66 0
0
*Oct 0 190 190
0 190 0
0
Trucking:
*Oct 0 491 491
491 0 0
0
MCCORDICK GLOVE INC: 519-623-9710
*Oct 0 237 237
118 119 0
0
Mfr-Drawing& Insulatn:
*Aug 0 3,154 3,154
3,154 0 0
0
------- -------
------- ------- ------- -------
P.I. =
11 Total 157K
96,058 74,074 13,568
8,416 0
Reported ------- ------- ------- ------- -------
-------
------------------------------------------------------------------------------
Payment C.I.
Number of Total Current
Overdue
Quarters
Index Score Suppliers
Owing $ 1st 2nd
3rd
------------------------------------------------------------------------------
2 Qtr/2007
11 0 16
91,407 70,424 12,567
8,416 0
1 Qtr/2007
3 0 13
73,415 66,133 7,282
0 0
4 Qtr/2006
3 0 17
75,365 69,168 4,972
1,225 0
3 Qtr/2006
5 0 14
105,099 93,170 8,100
3,771 58
2 Qtr/2006
2 4
13 123,229 116,676
6,245 308 0
1 Qtr/2006
10 0 18
124,569 88,908 33,203
2,417 41
4 Qtr/2005
7 0 12
115,636 91,189 24,406
41 0
3 Qtr/2005
8 0 17
126,742 95,661 30,766
274 41
2 Qtr/2005
4 0 16
155,364 138,928 13,512
2,924 0
FINANCIAL INFORMATION
No financial figures
regarding the subject company could be obtained directly from management or
from outside sources at the time of this report.
CURRENT OPERATIONS
NAICS Code: 331221
Cold-Rolled Steel Shape Manufacturing
SIC Code: 3316
Business Activity:
TAYLOR STEEL INC. is
engaged in the processing and selling of flat rolled steel. The subject provides a range of products in
Hot Rolled, Cold Rolled and Coated varieties. The company offers products up to
1/2" thick and up to 72" wide in size.
The heading address
is the headquarters for the subject company. The company has seven facilities
in
PUBLIC RECORD
No liens, judgments
or bankruptcy filings were found.
GENERAL COMMENTS
TAYLOR STEEL INC. is
well established with operations dating from 1984. The payment record is satisfactory
and the operation history is clear. The subject 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 |
|
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%)