MIRA
INFORM REPORT
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Report Date : |
14.07.2007 |
IDENTIFICATION DETAILS
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Name : |
GIBBS
INTERNATIONAL, INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1972 |
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Legal Form : |
Corporation –
Private |
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Line of Business : |
Importer,
exporter, and wholesaler of used and new textile machinery. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: GIBBS
INTERNATIONAL, INC.
Address:
P.O.
City:
State/Province:
Zip Code: 29301
Country: UNITED
STATES
Telephone: 864-439-8752
Facsimile: 864-439-7544
Founded
(D/M/Y): / /1972
In KUSD As of:
31/12/2006
Sales /
Revenue: 30,000
Net Income:
Total Equity:
Number of Employees:
28
Legal Form: Corporation
- Private
Website: gibbsinternational.com
Maj.
Shareholder: Mr. Jimmy Gibbs
Business Activity: The Company is an importer, exporter,
and wholesaler of used and new textile
machinery.
NOTE TO CLIENT
Person Contacted:
Ms. Linda Belanger, Controller. Ms.
Belanger confirmed and updated the information presented to her.
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 30/05/1974
State/Province of
Incorporation: SC
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
The Company
incorporated in
GIBBS INTERNATIONAL,
INC.
DOMESTIC /
FOREIGN: Domestic
STATUS: Good Standing
STATE OF
ORGANIZATION: For
Profit
REGISTERED AGENT
INFORMATION
REGISTERED AGENT
NAME: JIMMY I GIBBS
ADDRESS:
CITY:
STATE: SC
ZIP: 00000 0000
FILE DATE: 05/30/1974
EFFECTIVE DATE: 05/30/1974
Managers/Key
Personnel
Mr. Jimmy Gibbs President & CEO
Ms. Linda
Belanger Controller
Mr. Brian
Honeycott Vice President
OWNERS
Mr. Jimmy Gibbs % Majority
AFFILIATED ENTITIES
The Company has no
affiliates of subsidiaries.
BANKS
Wachovia Bank
SC
Telephone:
864-255-8331
Facsimile:
Account Number:
Account Manager: Mr.
Ed Stein
Ms. Belanger
declined to provide a signed authorization for credit information.
Bank of
GA
Telephone:
864-271-5954
Facsimile: 415
343-9301
Account Number:
000731058562
Account Manager:
A fax was sent to
the bank for credit information.
PAYMENT HISTORY
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE
CUR 1- 31- 61-
CATEGORY
REPTD
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
BLDG MATRL 07-05 07-05 VARIED 500
100 100 0 0
0 0 CUST 13 YR
FACTOR
07-06 04-03 NET 30 0 0
0 0 0 0 0
FRGHT FWRD 07-06 06-09 NET 30 8700
0 0 0
0 0 0
MACH DISTR 07-04 04-04 1/10N30 0 0
0 0 0
0 0 CUST
3 YR
PETROLEUM
07-03 07-03 VARIED 600 400
100 0 0 0
0 CUST 27 YR
TELECOM
07-06 00-00 NET 30 1100 200
50 50 0
0 0
TRANSPORTN 07-06 00-00 NET 30 0
0 0 0
0 0 0
PROMPT
AIR TRANS
06-11 00-00 NET 30 200 0
0 0 0
0 0 CUST 22 YR
COMMUN SVC 06-08 00-00 NET 20 0
0 0
0 0 0 0
CRED CARD
06-09 00-00 NET 30 900 0
0 0 0
0 0 ACCTCLOSED
LEASING
05-04 00-00 NET 30 400 400
21 23 23
23 10 CUST 4
YR
LEASING
06-06 00-00 CONTRCT 5400
0 0 0
0 0 0
PACKAGING
06-03 00-00 NET 30 0 0
0 0 0
0 0 CUST
1 YR
PLUMBING
04-07 04-04 NET 10 700 700
2 2 96
0 0
ADMIN
05-05 00-00 CREDIT 0 0
0 0 0
0 0 CUST 37 YR
CURRENT QUARTER 10900 700
85 15 0
0 0
Payment Trends
INDUSTRY BUSINESS BALANCE
CUR 1- 31- 61-
DATE
CUR DBT DBT $ %
30 60 90 91+
--------
--- --- --- -------- --- --- --- --- ---
20070600
0 4 0 600 100 0
0 0 0
20070500
0 4 2 800 86
14 0 0 0
20070400
0 5 0 700 100 0
0 0 0
20070300
0 5 24 1600 42
7 51 0 0
20070200
0 5 0 400 100 0
0 0 0
20070100
0 5 0 600 100 0
0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
Second
2007 2 700 90
10 0 0 0
First
2007 14 900
66 4 30
0 0
Fourth
2006 0 1100 100 0
0 0 0
Third
2006 0 800 100 0
0 0 0
Second
2006 0 1100 100 0
0 0 0
FINANCIAL INFORMATION
FINANCIAL FIGURES
Year-End
(D/M/Y): 31/12/2006 31/12/2005 31/12/2005
Consolidated Consolidated
Sales /
Revenues 30,000 30,000 -
Ms. Belanger
declined to provide financial statement information, citing company
policy. She did confirm that the company
has had net sales in the US$30 Million range for the last two years.
HISTORY
The company was
founded in 1972 in by Mr. Jimmy Gibbs who primarily supplied replacement parts
and accessories for the weaving industry.
The Company is the successor to Gibbs Textiles, Inc. and Gibbs
Machinery, Inc., has grown to a worldwide organization.
CURRENT OPERATIONS
NAICS Code: 421
Wholesale Trade, Durable Goods
Number of
Employees: 28
Business Activity:
The Company is an
importer, exporter, and wholesaler of used and new textile machinery.
In addition, the
company sells textile manufacturing plants and warehouses in the
The heading address
is the sole location in the
The Company has one
sales office in
Uferweg 54
Tel: (+49)
7162-931676
Fax: (+49)
7162-931677
The Company recently
opened sales offices in
PUBLIC RECORD
A search of public
revealed the following information, action against the Company and no
bankruptcy petitions. We cannot
determine the current status of the action against the Company.
Name Searched: GIBBS
INTERNATIONAL INC.
Defendant: Gibbs
International, Inc
Filing Date:
1/24/2002
Filing Type: Civil
Plaintiff Counsel:
Henderson, Matthew A [COR LD NTC]
864-582-2962
864-583-1894
Plaintiff: Asia
Spinning Co Ltd
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Name Searched: GIBBS
INTERNATIONAL INC.
Debtor Address:
GIBBS INTERNATIONAL INC
Secured Parties:
Filing Date:
2/23/2004
Filing Number:
040223-1222525
Filing Type: INITIAL
FILING
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Name Searched: GIBBS
INTERNATIONAL INC.
Debtor Address:
GIBBS INTERNATIONAL, INC.
P. O.
Secured Parties:
WACHOVIA BANK, NATIONAL ASSOCIATION
Filing Date:
12/28/2005
Filing Number:
051228-0849493
Filing Type: INITIAL
FILING
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Name Searched: GIBBS
INTERNATIONAL INC.
Debtor Address:
GIBBS INTERNATIONAL INC.
Secured Parties:
WACHOVIA BANK NATIONAL ASSOCIATION
Filing Date:
8/16/2005
Filing Number:
050816-0911310
Filing Type: INITIAL
FILING
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Name Searched: GIBBS
INTERNATIONAL INC.
Debtor Address:
GIBBS INTERNATIONAL, INC.
P. O.
Secured Parties:
WACHOVIA BANK NATIONAL ASSOCIATION
Filing Date:
8/16/2005
Filing Number:
050816-0911309
Filing Type:
AMENDMENT
Original Filing
Number: 011221-1113508
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Name Searched: GIBBS
INTERNATIONAL INC.
Debtor Address: GIBBS
INTERNATIONAL INC
Secured Parties: U
Filing Date:
6/21/2005
Filing Number:
050621-1055558
Filing Type: INITIAL
FILING
--------------------------------------------------------------------------------
Name Searched: GIBBS
INTERNATIONAL INC.
Debtor Address:
GIBBS INTERNATIONAL, INC
Secured Parties:
Filing Date:
5/17/2004
Filing Number:
040517-1041010
Filing Type: INITIAL
FILING
--------------------------------------------------------------------------------
Name Searched: GIBBS
INTERNATIONAL INC.
Debtor Address:
GIBBS INTERNATIONAL, INC.
Secured Parties:
GENERAL ELECTRIC CAPITAL CORPORATION
Filing Date:
1/29/2004
Filing Number:
040129-1505544
Filing Type: INITIAL
FILING
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Name Searched: GIBBS
INTERNATIONAL INC.
Debtor Address:
GIBBS INTERNATIONAL, INC.
P. O.
Secured Parties:
FIRST UNION NATIONAL BANK
Filing Date:
12/21/2001
Filing Number:
011221-1113508
Filing Type: INITIAL
FILING
--------------------------------------------------------------------------------
Name Searched: GIBBS
INTERNATIONAL INC.
Debtor Address:
GIBBS INTERNATIONAL, INC.
P. O.
Secured Parties:
WACHOVIA BANK, NATIONAL ASSOCIATION
Filing Date:
3/3/2003
Filing Number:
030303-1115485
Filing Type: INITIAL
FILING
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Name Searched: GIBBS
INTERNATIONAL INC.
Debtor Address:
GIBBS INTERNATIONAL, INC.
Secured Parties:
WACHOVIA BANK, NATIONAL ASSOCIATION
Filing Date:
3/3/2003
Filing Number:
030303-1115269
Filing Type: INITIAL
FILING
--------------------------------------------------------------------------------
Name Searched: GIBBS
INTERNATIONAL INC.
Debtor Address:
GIBBS INTERNATIONAL INC.
Secured Parties:
WACHOVIA BANK NATIONAL ASSOCIATION
Filing Date:
8/30/2002
Filing Number:
020830-1155184
Filing Type: INITIAL
FILING
--------------------------------------------------------------------------------
Name Searched: GIBBS
INTERNATIONAL INC.
Debtor Address:
GIBBS INTERNATIONAL, INC
Secured Parties:
Filing Date:
3/15/2004
Filing Number:
040315-1035518
Filing Type: INITIAL
FILING
--------------------------------------------------------------------------------
Name Searched: GIBBS
INTERNATIONAL INC.
Debtor Address:
GIBBS INTERNATIONAL, INC.
Secured Parties:
GENERAL ELECTRIC CAPITAL CORPORATION
Filing Date:
2/24/2004
Filing Number:
040224-1248322
Filing Type: INITIAL
FILING
GENERAL COMMENTS
Gibbs International,
Inc. incorporated in 1974 in
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)