MIRA
INFORM REPORT
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Report Date : |
24.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
ADVANCED CABLE TIES, INC. |
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Registered Office : |
245 Suffolk Lane, Gardner, Massachusetts - 01440 |
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Country : |
United States |
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Date of Incorporation : |
19/01/1995 |
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Legal Form : |
Corporation – Private |
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Line of Business : |
Manufacturer of a wide variety of cable ties and related products. |
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 : |
Slow but correct |
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Litigation : |
Exist |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name : ADVANCED CABLE TIES,
INC.
Trade Name(s) : ACT
Fastening Solutions
Address :
245 SUFFOLK LANE
City :
GARDNER
State/Province :
MASSACHUSETTS
Zip Code :
01440
Country :
UNITED STATES
Telephone : 978
630-3900
Facsimile :
978 630-3999
As of :
--
Sales / Revenue : --
Net Income : --
Total Equity : --
Number of Employees : 100
Legal Form :
Corporation - Private
Website :
www.actfs.com
Business Activity : The
Subject is a manufacturer of a wide variety of cable ties and related products.
NOTE TO CLIENT
Person contacted: Mr. Steve Leonard, Controller.
Mr. Leonard confirmed general information but did not provide financial
or bank details at this time.
LEGAL
Legal Form :
Corporation – Private
Since (D/M/Y) :
19/01/1995
State/Province of Incorporation :
DE
Status :
ACTIVE
Previous Legal Form :
Company is NOT required to publish an annual financial report.
Delaware registration:
File Number: 2472726
Incorporation Date / Formation Date: 01/19/1995
Entity Name: ADVANCED CABLE TIES, INC.
Entity Kind: CORPORATION Entity Type: GENERAL
Residency: DOMESTIC State: DE
REGISTERED AGENT
INFORMATION
Name: THE PRENTICE-HALL CORPORATION SYSTEM, INC.
Address: 2711 CENTERVILLE ROAD SUITE 400
City: WILMINGTON County: NEW CASTLE
State: DE Postal Code: 19808
Phone: (302)636-5400
Massachusetts qualification:
Name: ADVANCED
CABLE TIES, INC.
The name was changed from: ADVANCED CABLE TIE, INC.
on 6/2/1997
Mergered with : ADVANCED
CUSTOM TECHNOLOGY, INC. on 2/9/1996
Entity Type: Foreign
Corporation
Identification Number: 043259840
Old Federal Employer
Identification Number (Old FEIN):
000000000
Date of Registration in Massachusetts:
03/28/1995
State: DE on: 01/19/1995
Current Fiscal Month / Day: 12
/ 31
245 SUFFOLK LANE
GARDNER MA 01440
Registered Agent: KENNETH C. TOMASETTI
9
PINE MEADOW DR.
PHILLIPSTON MA 01831
Managers/Key
Personnel
Mr. Kenneth Tomasetti
President
Ms. Donna Tomasetti
Personnel Manager
Mr. Steve Leonard
Controller
AFFILIATED ENTITIES
There are no affiliated businesses.
BANKS
MA
Telephone:
Facsimile:
Account Number:
Account Manager:
Bank details could not be learned 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
06-11 00-00 NET 30 300 0
0 0 0 0 0
CUST 4 YR
BLDG MATRL 07-01 00-00 CREDIT 5000
700 100 0 0
0 0
BUS SERVCS 06-12 06-12 NET 30 0
0 0 0
0 0 0
COMPUTERS
07-01 00-00 CREDIT 35000 300
100 0 0 0
0
FACTOR
07-03 04-05 NET 30 0 0 0 0 0
0 0 CUST 4 YR
FINCL SVCS 07-03 06-12 NET 800
0 0 0
0 0 0 CUST 3 YR
FREIGHT
07-03 06-05 VARIED 205300 27700
0 0 0 0 100
FREIGHT
07-03 07-02 VARIED 37800 21700
100 0 0 0
0
MACH DISTR 07-01 04-06 1/10N30 0 0 0 0 0
0 0 CUST 3 YR
OFFC SUPPL 07-01 00-08 CREDIT 5000
0 0 0
0 0 0
PACKAGING
07-01 06-12 NET 30 1000 100 100 0 0 0
0 CUST 3 YR
PAPER PROD 07-02 00-00 NET 30 33400
0 0 0
0 0 0
AIR TRANS
06-06 06-05 0000000 200
200 100 0 0
0 0 CUST 11 YR
BANK CARD
07-03 07-03 NET 28 800 0
0 0 0 0 0
CUST 1 YR
ELEC DISTR 06-06 00-00 NET 30 200
200 100 0 0
0 0
ELEC MFG
04-03 03-08 NET 30 700 0
0 0 0 0 0
ELEC SUPLR 04-08 04-07 2/10N30 100 100
100 0 0 0
0
MISC MANUF 05-01 00-00 VARIED 3300
0 0 0
0 0 0
PACKAGING
05-12 04-12 NET 30 0 0 0 0 0
0 0
PAPER PROD 06-01 00-00 VARIED 0
0 0 0
0 0 0
CURRENT QUARTER 323600
50500 45 0
0 0 55
Payment Trends
INDUSTRY
BUSINESS BALANCE CUR 1-
31- 61-
DATE
CUR DBT DBT $ % 30
60 90 91+
--------
--- --- --- -------- --- --- --- --- ---
20070300
0 19 61 48100 42 0 0 0
58
20070200
0 18 69 42200 34 0
0 0 66
20070100
0 7 54 53900 48 1
0 0 51
20061200
0 7 59 49100 43 1
0 0 56
20061100
0 7 48 59900 53
1 0 0 46
20061000
0 6 51 58100 51 1
0 0 48
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ % 30 60
90 91+
-------- ------ ---
-------- --- --- --- --- ---
Fourth
2006 54 54300 48 1 0
0 51
Third
2006 32 109900 36 4 52
0 8
Second
2006 10 103200 31 69 0 0 0
First
2006 0 29200 99 1 0
0 0
Fourth
2005 2 41000 89 10 1
0 0
FINANCIAL INFORMATION
Mr. Leonard declined to discuss financial details. Outside sources
report sales in the $10 - $20 million range, however this could not be
confirmed.
CURRENT OPERATIONS
NAICS Code: 3261 Plastics Product Manufacturing
Number of Employees: 100
Business Activity:
The Subject is a manufacturer of a wide variety of cable ties and
related products. A cable tie is a band
or length of strap manufactured from a class of polymeric materials known as
polyamides (Nylon 6/6). The width, length and head area employ ratcheting
mechanisms to bundle and then lock items together. ACT has been ISO-9002
registered since 1999 and recently acquired an upgrade to ISO- 9001:2000
Products of the Company include: cable ties, cable clamps, cable wraps,
split looms, cable marker labels, vinyl, nylon & heat shrink terminals, heat shrink tubing, terminal strips, wire
connectors, barrier strips, switches, duct straps, heavy duty spray adhesives,
wire strippers & wiring
accessories, duct hanging straps, cable tie tensioning tools & terminal crimpers.
There are no branch locations at this time.
PUBLIC RECORD
We found no evidence of bankruptcy filed in the Subject's name.
Name Searched: ADVANCED CABLE TIES INC.
Debtors: ADVANCED CABLE TIES, INC.
245 SUFFOLK LANE
GARDNER, MA 01440
History: DATE FILING# DOCUMENT SUMMARY
2/22/2000 00696635 TYPE: UCC-1 ORIGINAL
DEBT: ADVANCED CABLE TIES, INC.
SECD: SADDLEBACK FINANCIAL, CORPORATION
Original Filing Number: 00696635
Secured Party: SADDLEBACK FINANCIAL, CORPORATION
625 THE CITY DRIVE
ORANGE, CA 92868
Status: ACTIVE
Name Searched: ADVANCED CABLE TIES INC.
Debtors: ADVANCED CABLE TIES, INC.
245 SUFFOLK LANE
GARDNER, MA 01440
History: DATE FILING# DOCUMENT SUMMARY
5/5/2000 00714733 TYPE: AMENDMENT
DEBT: ADVANCED CABLE TIES, INC.
SECD: M. & I. FIRST NATIONAL
LEASING, CORP.
4/29/1999 99627944 TYPE: UCC-1 ORIGINAL
DEBT: ADVANCED CABLE TIES, INC.
SECD: M. & I. FIRST NATIONAL
LEASING, CORP.
Original Filing Number: 99627944
Secured Party: M. & I. FIRST
NATIONAL LEASING, CORP.
250 E. WISCONSIN AVE., SUITE 1400
MILWAUKEE, WI 53202
Status: ACTIVE
GENERAL COMMENTS
The Subject was registered in 1995. The payment history shows notable
slowness which may be due to a dispute, the operating record is clear. No
derogatory information was reported or noted. The Subject appears to be capable
of good trade relations.
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%)