MIRA INFORM REPORT

 

 

Report Date :

22.06.2007

 

IDENTIFICATION DETAILS

 

Name :

CLUB CAR, INC.

 

 

Registered Office :

4125 Washington Road, Evans, Georgia - 30809                       

 

 

Country :

United States                

 

 

Date of Incorporation :

07/10/1988

 

 

Legal Form :

Corporation - Private

 

 

Line of Business :

Manufacturer of golf, utility and transportation vehicles.

 

 

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:            CLUB CAR, INC.

Address:                       4125 WASHINGTON ROAD

City:                             EVANS

State/Province:              GEORGIA                              

Zip Code:                      30809                       

Country:                                    UNITED STATES               

Telephone:                    706 863-3000                

Facsimile:                     706 863-5808                   

As of:

Sales / Revenue:

Net Income:

Total Equity:

Number of Employees:   1,200

Legal Form:                   Corporation - Private

Website:                       www.clubcar.com

Business Activity:          The Company engages as a manufacturer of golf, utility and transportation vehicles.

 

 

NOTE TO CLIENT

 

PERSON CONTACTED:

Ms. Barbara Brasier, Chief Financial Officer.

--

Multiple attempts were made to reach Ms. Brasier without any success.  As a result, the information in this report could not be confirmed.

 

 

LEGAL

 

Legal Form:                               Corporation - Private

Since (D/M/Y):                           07/10/1988

State/Province of Incorporation:   DELAWARE

Status:                                                  ACTIVE

Previous Legal Form:

 

Company is NOT required to publish an annual financial report.

 

The Company is incorporated in the state of Delaware as follows:

--

File Number:                  2174886

Incorporation Date:         10/07/1988 (mm/dd/yyyy)

Entity Name:                 CLUB CAR, INC.

Entity Kind:                   CORPORATION

Entity Type:                   GENERAL

Residency:                    DOMESTIC

State:                                       DELAWARE

REGISTERED AGENT: THE CORPORATION TRUST COMPANY

Address:                       CORPORATION TRUST CENTER

                                    1209 ORANGE STREET

City:                             WILMINGTON

County:                         NEW CASTLE

State:                                       DELAWARE

Postal Code:                 19801

Phone:                          302658-7581

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

The Company is qualified to do business in Georgia as follows:

--

Entity Name:                 CLUB CAR, INC.

Entity Type:                   Profit Corporation - Foreign

Control Number:             J904781

Status:                                      Active/Compliance

Creation Date:               3/7/1989

Jurisdiction:                   DELAWARE

Principal Office:             155 CHESTNUT RIDGE ROAD

                                    MONTVALE, NJ 07645

Last Filed Date:             2/6/2007

Last Registration:           Filed 2007

-----

Registered Agent:          CORPORATION PROCESS COMPANY

Office Address:              180 CHEROKEE

                                    STREET, N.E.

                                    MARIETTA GA 30060

                                    Agent County: Cobb

 

 

Managers/Key Personnel

 

Mr. Phillip J. Trailes                    Chief Executive Officer

Ms. Barbara L. Brasier                           Chief Financial Officer

Ms. Barbara Santoro                              Secretary

 

 

AFFILIATED ENTITIES

 

Armoro, Inc.

AttachmentsExpress.com, Inc.

Blaw-Knox Construction Equipment Corporation

CDS Midwest Inc.

Checker Flag Parts, Inc.

Chesley Industries, Inc.

CISA Security Products, Inc.

Clark Business Services Corporation

Clark Distribution Services Inc.

Clark Equipment Company

Clean Air, Inc.

Commercial Refrigeration Co.

Compressed Air Parts, Inc.

Crystal Refrigeration, Inc.

Dor-O-Matic (Illinois) LLC

Dor-O-Matic of Mid Atlantic States, Inc.

D-R Acquisition, LLC

DR Holding Corp.

Earthforce America, Inc.

Electronic Technologies Corporation USA

Falcon Lock LLC

Geith Inc.

Harrow Industries LLC

Harrow Products (Delaware) LLC

Harrow Products LLC

Hussmann Corporation

Hussmann Holdings, Inc.

Hussmann International, Inc.

Hussmann Mechanical Corporation

Hussmann Services Corporation

IDP Acquisition, LLC

Improved Machinery, Inc.

Inet Holdings U.S. Inc.

Ingersoll-Rand Asia Pacific Inc.

Ingersoll-Rand Charitable Foundation

Ingersoll-Rand China Limited

Ingersoll-Rand Climate Control Holding Corporation

Ingersoll-Rand Company

Ingersoll-Rand Construction Services, Inc.

Ingersoll-Rand Energy Systems Corporation

Ingersoll-Rand Energy Technologies LLC

Ingersoll-Rand Energy Techologies (Aviara) LLC

Ingersoll-Rand Energy Techologies (Project DDI) LLC

Ingersoll-Rand Energy Techologies (Project East) LLC

Ingersoll-Rand Energy Techologies (Project Horton) LLC

Ingersoll-Rand Enhanced Recovery Company

Ingersoll-Rand Financial Services Corporation

Ingersoll-Rand Industrial Refrigeration, Inc.

Ingersoll-Rand Industrial Solutions Holding Corporation

Ingersoll-Rand Infrastructure Holding Corporation

Ingersoll-Rand International Holding Corporation

Ingersoll-Rand International Sales LLC

Ingersoll-Rand International, Inc.

Ingersoll-Rand Italian Holding LLC

Ingersoll-Rand Liability Management Company

Ingersoll-Rand Plus, LP

Ingersoll-Rand Sales Company, LLC

Ingersoll-Rand Security &  Safety Holding Corporation

Ingersoll-Rand Services Company

Ingersoll-Rand Spanish Holding LP

Ingersoll-Rand Transportation Services Company

Ingersoll-Rand US United, LLC

Ingersoll-Rand Western Hemisphere Trade Corporation

Ingersoll-Rand Worldwide, Inc.

Ingersoll-Rand, Inc.

Integrated Access Systems, Inc.

Interflex N.A., Inc.

I-R E-Medical, Inc.

IR of Reno, Inc.

IR Receivables Funding I Corporation

IR Receivables Funding II Corporation

Krack Corporation

Lockey Corp.

Marlorch, Inc.

MFP (Kentucky) LLC

Monarch Hardware and Manufacturing Company LLC

Nelson Refrigeration Inc.

Newman Tonks, USA, LLC

Newman-Tonks Holdings LLC

Newman-Tonks Investments LLC

Niject Services Company

Perimeter Bobcat, Inc.

Recognition Systems, LLC

Refrigeration Engineering, Inc.

Refrigeration Service &  Design, Inc.

Roconeco Corporation

Rogers Refrigeration Co., Inc.

SBG Holding Corp.

Schlage Lock Company

Schlage Lock Company LLC

Security One Systems of Jacksonville

Security One Systems, Inc.

Silver Holding Corp.

Tavant Technologies, Inc.

Taylor Industries, Inc.

Terry D. Carter Service Co., Inc.

Thermo King Corporation

Thermo King de Puerto Rico, Inc.

Thermo King Enterprises Company

Thermo King SVC, Inc.

Thermo King Trading Company

Touch-Plate International, Inc.

Von Duprin LLC

WHS Refrigeration Services, Inc.

Wrathmaiden Inc.

ZEKS Compressed Air Solutions LLC

 

Parent Companies

 

Parent Company:    INGERSOLL-RAND COMPANY LIMITED

                   CLARENDON HOUSE, 2 CHURCH STREET

                              HAMILTON HM 11

                              BERMUDA

      Telephone:        441 295-2838

 

Club Car, Inc. is a subsidiary firm and as such, all of its financial activities are consolidated with the following financial statements of the parent company, Ingersoll-Rand Company Limited:

 

INGERSOLL-RAND COMPANY LIMITED - BALANCE SHEET

 

(expressed in Thousands of U.S. Dollars)

 

FOR THE FISCAL PERIODS ENDING

 

                        31-Mar-2007    31-Dec-2006

 ASSETS                 -----------    -----------

 

 Total Current Assets     4,578,400      4,095,900

 Total Assets            12,411,000     12,145,900

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

 LIABILITIES                 

 Total Current Liab.      3,551,200      3,613,600

 

 Total Liabilities        7,024,900      6,741,100

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

 SHAREHOLDERS' EQUITY

 Retained Earnings        5,397,000      5,456,100

 Total Equity             5,386,100      5,404,800

 

                        ===========    ===========

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

 

INGERSOLL-RAND COMPANY LIMITED - PROFIT &  LOSS ACCOUNT

     (expressed in Thousands of U.S. Dollars)

 

                      FOR THE FISCAL PERIODS ENDING

                        31-Mar-2007    31-Dec-2006

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

 Global Net Sales         2,668,100     11,409,300

 Cost Of Goods Sold       1,953,000      8,424,200

 

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

 Gross Result               715,100      2,985,100

 Operating Result           299,900      1,440,800

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

 Net Annual Incomes         217,500      1,032,500

 

                        ===========    ===========

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

 Ingersoll-Rand Company Limited is a public company trading stock as follows:

--

 

Ticker Symbol:              IR

Stock Exchange:                       NYSE

Recent Trade:                $55.54

52 Week High:               $55.54

52 Week Low:              $34.95

 

Outstanding Shares:                  301,627,000

Market Value of Shares:             $16.75 Billion

 

 

BANKS

 

Telephone:

Facsimile:

Account Number:

Account Manager:

 

A bank reference could not be obtained at this time.

 

 

PAYMENT HISTORY

 

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

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

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

 ADVERTISNG 07-05 00-00 NET 30  0        0        0   0   0   0   0   CUST  4 YR

 BUS SERVCS 07-04 00-00 NET 30  200      100      100 0   0   0   0

 

 ELEC DISTR 07-04 00-00 NET 30  1400     0        0   0   0   0   0   PROMPT

 ELEC EQUIP 07-05 04-03 CREDIT  100      0        0   0   0   0   0   CUST  4 YR

 FREIGHT    07-04 07-03 VARIED  977500   180700   81  13  3   1   2

 FRGHT FWRD 07-04 07-04 NET 30  0        0        0   0   0   0   0

 LAWNMOWERS 07-04 07-01 CONTRCT 35800    100      0   0   100 0   0   CUST  9 YR

 MACH DISTR 07-04 06-11 1/10N30 900      0        0   0   0   0   0   CUST  8 YR

 MANUFCTRNG 07-04 05-04 NET 30  0        0        0   0   0   0   0

 METAL DIST 07-04 07-02 VARIED  367700   0        0   0   0   0   0   CUST 29 YR

 MISC MANUF 07-03 07-02 VARIED  500      0        0   0   0   0   0

 PACKAGING  07-06 05-10 NET 30  4100     800      100 0   0   0   0   CUST 12 YR

 PRNTG& PUBL 07-06 00-00 VARIED  1000     1000     0   0   0   0   100

 SAFTY PROD 07-05 00-00 NET 30  2200     0        0   0   0   0   0   CUST  1 YR

 SAFTY PROD 07-06 06-07 NET 30  0        0        0   0   0   0   0   CUST  9 YR

 TRANSPORTN 07-06 00-00 NET 20  0        0        0   0   0   0   0   CUST  7 YR

 TRANSPORTN 07-05 00-00 VARIED  0        0        0   0   0   0   0   CUST  7 YR

 TRANSPORTN 07-04 00-00 NET 30  84300    84300    97  0   2   0   1   90+DYS SLO

 TRNS EQUIP 07-05 00-00 NET 30  0        0        0   0   0   0   0   CUST 10 YR

 TRUCK DLR  07-05 00-00 CONTRCT 9300     300      100 0   0   0   0

 AIR TRANS  06-11 00-00 NET 30  1800     200      0   0   0   45  55  COLLECTION

 AUTOMOTIVE 06-03 00-00 NET 10  1800     0        0   0   0   0   0

 AUTO EQUIP 05-09 00-00 VARIED  0        0        0   0   0   0   0

 BUS SERVCS 06-09 06-09 NET 30  0        0        0   0   0   0   0

 CELLUL/PAG 06-01 06-01 NET 30  0        0        0   0   0   0   0

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

 CRED CARD  07-06 07-02 REVOLVE 500      0        0   0   0   0   0   CUST 22 YR

 CRED CARD  07-06 07-05 REVOLVE 8200     900      100 0   0   0   0   CUST 22 YR

 DP EQUIP   05-11 00-00 NET 30  0        0        0   0   0   0   0

 ELEC DISTR 05-10 00-00 NET 30  2000     2000     0   0   0   0   100

 ELEC EQUIP 06-10 00-00 NET 30  0        0        0   0   0   0   0

 ELEC SUPLR 05-11 00-00 N10PRXO 0        0        0   0   0   0   0

 ELEC SUPLR 04-08 04-06 2/10N30 0        0        0   0   0   0   0

 ELEC SUPLR 05-04 00-00 VARIED  645800   52600    28  71  0   0   1

 FACTOR     07-01 00-00 NET 30  1300     1300     0   100 0   0   0

 FACTOR     07-01 04-10 NET     0        0        0   0   0   0   0   CUST  7 YR

 FREIGHT    04-12 01-01 VARIED  0        0        0   0   0   0   0

 FRGHT FWRD 06-06 06-05 NET 15  10800    10800    0   11  0   0   89  COLLECTION

 FUEL DISTR 04-09 00-00 NET 30  100      100      100 0   0   0   0

 GENERAL    04-08 00-00 VARIED  0        0        0   0   0   0   0   CUST  6 YR

 GENERAL    05-02 98-12 NET 30  0        0        0   0   0   0   0   CUST 20 YR

 IRON& STEEL 05-05 00-00 NET 30  9900     9900     0   100 0   0   0

 LEASING    04-10 04-09 N30     1057100  498900   0   0   95  2   3   CUST  3 YR

 MISC MANUF 06-08 00-00 VARIED  65200    11000    55  45  0   0   0

 OFFC SUPPL 05-10 05-08 NET     400      300      0   0   0   0   100 CUST  4 YR

 OFFC SUPPL 04-11 98-01 CREDIT  0        0        0   0   0   0   0   CUST 12 YR

 OFFC SUPPL 06-07 98-01 CREDIT  5000     0        0   0   0   0   0

 OFFC EQUIP 05-01 05-01 NET 30  10400    10400    28  0   72  0   0   CUST  7 YR

 SPORT GDS  06-09 00-00 VARIED  10700    400      100 0   0   0   0

 SPORT GDS  04-07 00-00 VARIED  0        0        0   0   0   0   0

 SPORT GDS  05-03 00-00 VARIED  0        0        0   0   0   0   0

 TEMP HELP  04-07 00-00 NET 7   0        0        0   0   0   0   0

 TEMP HELP  06-10 00-00 VARIED  5500     3100     58  0   0   0   42  CUST  3 YR

 TELECOM    05-07 05-07 NET 30  0        0        0   0   0   0   0   CUST  2 YR

 TELECOM    06-11 06-10 NET EOM 4400     0        0   0   0   0   0   CUST  8 YR

 TELECOM    04-06 00-00 NET 30  0        0        0   0   0   0   0   CUST  5 YR

 TRANSPORTN 04-10 00-00 NET 30  0        0        0   0   0   0   0

 CURRENT QUARTER                1485000  267300   86  9   2   1   2

 

 Payment Trends

            INDUSTRY     BUSINESS        BALANCE  CUR 1-  31- 61-

 DATE      CUR    DBT       DBT             $      %  30  60  90  91+

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

 20070600  0      4         6            268100   85  9   3   1   2

 20070500  0      4         5            269400   85  10  2   1   2

 20070400  0      3         77           1500     23  4   0   0   73

 20070300  0      5         104          91900    1   0   0   0   99

 20070200  0      4         105          92900    0   0   0   1   99

 20070100  0      4         65           152800   36  1   2   0   61

 

 Payment History - Quarterly Averages

                                         BALANCE  CUR 1-  31- 61-

 QUARTER  YEAR              DBT             $      %  30  60  90  91+

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

 First    2007              105          61600    0   0   0   1   99

 Fourth   2006              71           181200   31  1   1   0   67

 Third    2006              48           230200   36  9   11  16  28

 Second   2006              8            457300   81  6   11  1   1

 First    2006              7            357500   78  17  1   1   3

 

 

FINANCIAL INFORMATION

 

Financial information could not be obtained at this time either directly from management or from outside sources consulted.

 

 

CURRENT OPERATIONS

 

NAICS Code:   336999    All Other Transportation Equipment Manufacturing

SIC Code:     3799

 

Number of Employees:           1,200  

 

Business Activity:

 

The Company engages as a manufacturer of golf, utility and transportation vehicles.   The heading address is the Company headquarters and serves as an administrative office.  The mailing address is listed as follows:

--

MAILING ADDRESS

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

P.O. Box 204658

Augusta, GA 30917-4658

 

 

PUBLIC RECORD

 

A search of public revealed the following:

-----

Name Searched: CLUB CAR INC.

Debtor Address: CLUB CAR INC

P O BOX 204658

AUGUSTA, GA 30917-4658

Secured Parties: TFS

Filing Date: 8/4/2000

Filing Number: 12100002738

Filing Type: INITIAL FILING

-----

Name Searched: CLUB CAR INC.

Debtor Address: CLUB CAR INC

4125 WASHINGTON ROAD

EVANS, GA 30809

Secured Parties: TMCC

Filing Date: 6/15/2001

Filing Number: 12101001817

Filing Type: INITIAL FILING

-----

No additional UCC filings, or any bankruptcy petitions, legal proceedings, or tax liens were found against the firm at this time.

 

 

GENERAL COMMENTS

 

Club Car, Inc., incorporated in 1988 in the state of Delaware, engages as a manufacturer of golf, utility and transportation vehicles. A payment record appears in satisfactory condition. A search of public records failed to reveal any negative information against the Company.  The Company is considered well-established and appears 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

 

 

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%)

 

 

 

 

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