MIRA
INFORM REPORT
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Report Date : |
12.10.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1950 |
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Legal Form : |
Limited
Partnership |
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Line of Business : |
Designer and
manufacturer of mass transfer products for the chemical, petrochemical, refining,
gas processing, pharmaceutical, and specialty industries. |
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:
Address:
City: UXBRIDGE
State/Province:
Zip Code: L9P
1C6
Country:
Telephone: 905-852-3381
Facsimile: 905-852-7821
Founded
(D/M/Y): / /1950
In KCAD As of:
31/12/2006
Sales /
Revenue: 40,000,000
Net Income:
Total Equity:
Number of Employees:
118
Legal Form: Limited
Partnership
Website: www.koch-glitsch.com
(Par
Business Activity: The Subject is a designer and
manufacturer of mass transfer products for the chemical,
petrochemical,
refining, gas processing, pharmaceutical, and specialty industries.
NOTE TO CLIENT
ORDERED NAME: KOTCH
GLITSCH
LEGAL NAME:
We contacted the
company and spoke to Mr. Tom Pattinson, Controller, who provided information
about the company.
Please note that we
did send a written request to his attention via facsimile. An update will be
provided accordingly should we receive a response at a later time.
LEGAL
Legal Form: Limited
Partnership
Since (D/M/Y): 03/01/2006
State/Province of
Incorporation: ON
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
The Subject is
incorporated in the
Name:
Status: ACTIVE
Registration #:
LP12137675
Type: Limited
Partnership
Date of
Registration: 01/03/2006
Jurisdiction:
Managers/Key
Personnel
Mr. Bob
DiFulgentiz President
Mr. Michael
McGuire Vice President
Mr. Tom
Pattinson Controller
AFFILIATED ENTITIES
The following
companies are affiliated with the Subject through common ownership:
Koch Engineering
Company, Ltd. -
Koch Specialty Plant
Services, Inc. - Washington
Koch Modular Process
Systems, LLC -
Koch Knight, LLC -
Koch Chemical
Technology Group Latin America, LLC -
Koch Industries do
Brasil Ltda. -
Koch-Glitsch Pan
American Technical Services,
Koch-Chemical
Technology Group S.A. de C.V. -
Koch Industries International
Latin America, C.C.A. -
Koch-Glitsch
B.V.B.A. -
Koch-Glitsch a.s. -
Koch-Glitsch GmbH -
Koch-Glitsch Italia
S.r.l. -
Koch-Glitsch
Koch-Glitsch, S.L. -
Koch-Glitsch AG -
Koch-Glitsch (
Koch-Glitsch India
Ltd. -
Koch-Asia Pacific,
Inc. -
Koch-Glitsch Korea
Co., Ltd. -
Koch Chemical
Technology Group
Koch-Glitsch Pacific
Inc. -
Koch Australia Pty
Ltd. -
Parent Companies
Parent Company: Koch Industries, Inc.
UNITED STATES
Telephone: 316-828-5500
The Subject's parent
company, KOCH INDUSTRIES, INC. is a privately-held company. According to an
outside source, KOCH INDUSTRIES, INC. had 2006 sales of $90 Billion USD with a
one-year sales growth of 12.5%. There are approximately 80,000 employees
currently at KOCH INDUSTRIES, INC. The Company completed a $21 billion purchase
of the forest-products company Georgia-Pacific in 2005.
Directors:
• Chairman and CEO: Charles G. Koch
• President, COO, and Director: David L.
(Dave) Robertson
• CFO and Director: Steve Feilmeier
There are no known
subsidiaries.
BANKS
THE TORONTO-DOMINION
BANK
Telephone: (905)
852-3324
Facsimile: (403)
292-1317
Account Number:
Account Manager:
We have contacted
the above-mentioned bank. In the event a response is received, we will forward
the information immediately.
PAYMENT HISTORY
TRADE ITEMS
------------------------------------------------------------------------------
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
------------------------------------------------------------------------------
Whlsl-Ind Mach Sppls:
*Sep 0 4,827 4,827
4,817 10 0
0
Wholesale-Chemicals:
*Sep 0 1,094
1,094 911 183
0 0
Wholesale-Elec Equip:
*Sep 0 5,189 1,950
1,793 157 0
0
DE LAGE LANDEN FIN: 905-465-3160
*Sep 0 12,763 682
682 0 0
0
Whlsl-Plumbing/Heatg:
*Sep 0 361 361
361 0 0
0
KTS TOOLING SUPPLY: 416-675-9411
*Sep 0 221 221
0 221 0
0
Whlsl Ferrs Nonferrs:
*Sep 0 13,400 13,400
13,400 0 0
0
Transportation Serv:
*Aug 0 7,653 421
421 0 0
0
Whlsl Ferrs Nonferrs: DLA-2007/07/27
*Aug May/2006
2,000K Jun/2007 1,339K 1,313K
1,313K 0 0
0
Transportation Serv: Merged accts
*Aug 0 637 637
637 0 0
0
------- -------
------- ------- ------- -------
P.I. =
0 90 Days 1,385K
1,337K 1,336K 571
0 0
Reported ------- ------- ------- ------- -------
-------
Whlsl Ferrs Nonferrs:
*May 0 5,000 4,243
4,243 0 0
0
Mfr-Petroleum Prdts:
*Apr 0 7,921 7,921
0 7,921 0
0
Whlsl-Durable Goods:
*Dec 0 138 138
138 0 0
0
Transportation Serv:
*Oct 0 146
146 28 118
0 0
------- -------
------- ------- ------- -------
P.I. =
0 Total 1,398K
1,349K 1,341K 8,610
0 0
Reported ------- ------- ------- ------- -------
-------
PAYMENT TRENDS
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Payment C.I.
Number of Total Current Overdue
Quarters
Index Score Suppliers
Owing $ 1st 2nd
3rd
------------------------------------------------------------------------------
3 Qtr/2007
0 7 10
1,337K 1,336K 571
0 0
2 Qtr/2007
1 7 10
691,939 674,438 17,501
0 0
1 Qtr/2007
5 9 6
1,349K 1,141K 207,918
0 0
4 Qtr/2006
1 9 7
539,232 529,572 9,660
0 0
3 Qtr/2006
3 11 6
756,249 677,092 79,157
0 0
2 Qtr/2006
0 20 1
10,824 10,824 0
0 0
1 Qtr/2006
27 15 4
10,425 2,062 8,363
0 0
4 Qtr/2005
NA 26 0 0 0 0
0 0
3 Qtr/2005
99 46 1
375 0 0
0 375
FINANCIAL
INFORMATION
FINANCIAL FIGURES
Year-End (D/M/Y): 31/12/2006 31/12/2006 31/12/2006
Consolidated
Sales / Revenues 40,000,000 - -
Mr. Tom Pattinson,
Controller, stated that per company policy, the Company does not release
financial statements.
He did mention that
the Company has an average annual sales of $40 million CDN.
CURRENT OPERATIONS
NAICS Code: 3399
Other Miscellaneous Manufacturing
Number of Employees
: 118
Business Activity:
The Subject is a
designer and manufacturer of mass transfer products for the chemical, petrochemical,
refining, gas processing, pharmaceutical, and specialty industries. The heading address is the location of the
Company's headquarters.
The property is
owned and it sits on 12 acres of land.
The Firm has one
branch location:
Unit 228A
T3G 2A7,
PUBLIC RECORD
The following legal
filing has been found against the Company:
Statement of Claim:
Defendant KOCH-GLITSCH
CANADA COMPANY Date Oct 07, 2003
Plaintiff HANSEN,
Amount 10,000 Location
Reason Employment File # 03-26042
A search of
bankruptcy courts revealed no record of the Subject filing for bankruptcy.
GENERAL COMMENTS
The Subject is a
designer and manufacturer of mass transfer products for the chemical,
petrochemical, refining, gas processing, pharmaceutical, and specialty
industries since 1950. The Company has a good payment record. A search of
bankruptcy courts revealed no record of the Subject filing for bankruptcy.
However, one statement of claim was found against the Company; the current
status of the legal issue could not be determined. The Firm should be
considered responsible for normal business transactions.
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. |
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%)