MIRA
INFORM REPORT
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Report Date : |
30.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
UNITED TEXTILE MACHINERY CORP. |
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Registered Office : |
16 Anawan Street, (moved from 81 Martine )Fall River, MA 02721 |
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Country : |
Unites States |
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Date of Incorporation : |
24.06.1971 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wholesaler of 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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Maximum Credit Limit : |
USD 20,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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REQUIRED CREDIT |
ADVISED CREDIT |
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MAXIMUM |
20,000 USD |
GEOPOLITICS
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POLITICAL DATA |
ECONOMIC DATA |
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FORM OF GOVERNMENT ECONOMIC RISK |
Federal
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CURRENCY BRANCH SITUATION |
USD Satisfying |
IDENTIFICATION
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Company Name: |
UNITED TEXTILE
MACHINERY CORP. |
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Address: |
16 Anawan
Street, (moved from 81 Martine ) Fall River, MA 02721, USA |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (508) 676-8247 + 1 (508) 677-4717 042489748 Massachusetts Sam Shapiro, President |
Date founded: |
June 24, 1971
Corporation for Profit 12 employees |
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Legal form: |
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Staff: |
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Business: |
Wholesaler of textile machinery |
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BANKS
First Trade Union Bank
BUSINESS
Business & Operations:
United Textile Machinery Corporation is a textile dealer in the United
States. They specialize in the locating and selling of machinery and equipment,
parts and accessories. The company has a wide variety of machinery and
equipment in stock and carries many hard to find parts and accessories, for
almost every type of textile process.
United Textile Machinery Corporation routinely works with large financial
institutions, banks and leasing companies. They are called upon daily to
evaluate, appraise, auction and to purchase machinery and equipment.
United Textile Machinery also handles plant liquidations, and can act as
agents for receivers, in-cases of plant closings and bankruptcy sales.
They are qualified and licensed to handle:
-Appraisal's,
-Liquidation's,
-Exporting,
-Auction's.
United Textile Machinery Corporation was founded in the early 1950's by the
late Emil Shapiro and the late Leon Bakst. At the untimely death of Emil
Shapiro in December 1969, the company changed hands and began to operate under
the direction of Samuel Shapiro. Since then, the company has grown tremendously
and now conducts business worldwide.
The company has increased its warehouse and storage capabilities to more
than five times its original capacity.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The director of the company
is:
Sam Shapiro, President.
He is also one of the main
shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
United Textile Machinery Corporation does
not publish any financial statement.
However
our financial sources could provide us with the following information:
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Fiscal Year In USD |
12/31/2007 |
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Turnover |
2,700,000 |
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Operating Profit |
56,000 |
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Net Income |
47,000 |
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Net Worth |
120,000 |
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Liabilities |
60,000 |
LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
1 UCC Filing in 2006 &
2005 by first Trade Union Bank securing Accounts Reveivables. Amount: NA
All previous UCC Filings
have been cleared
RATING
Local credit bureau gave a correct credit rate.
The Company is in “good standing”.
This means that all local and federal taxes were paid on due date.
Payments are made on a 40
days basis (monitored during the past 12 months).
The cash is correct.
Our final opinion:
This is a small company
working in the US.
A credit line may be
considered.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Low Controlled Correct |
PUBLIC PAYMENTS |
See above Regular |
ADVISED
CREDIT
20,000 USD
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.49 |
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UK Pound |
1 |
Rs.84.21 |
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Euro |
1 |
Rs.66.33 |
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%)