MIRA
INFORM REPORT
|
Report Date : |
10.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
QUICKIE MANUFACTURING
CORPORATION |
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|
|
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Registered Office : |
1150 Taylor’s Lane, Cinnamison, NJ 08077 |
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Country : |
United States |
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Date of Incorporation : |
12.01.1977 |
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Com. Reg. No.: |
0100032364 |
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Legal Form : |
Corporation – Profit |
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|
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Line of Business : |
Maker and Marketer of the Ring-A-Mop, EZ-Wringer and QuickSweep brands
of cleaning products. |
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 |
|
Maximum Credit Limit : |
USD 800,000 |
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|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company
Name
QUICKIE MANUFACTURING
CORPORATION
Company acronym: --
Contact Information
|
Address |
1150 Taylor’s Lane Cinnamison, NJ 08077 USA |
|
Telephone |
856-829-8598 |
|
Fax |
856-786-9318 |
|
Website |
www.quickie.com |
Registration Data
|
Date of Registration |
01-12-1977 |
|
Registration number |
0100032364 |
|
Legal address |
1150 Taylor’s Lane Cinnamison, NJ 08077 USA |
|
Legal Form |
Corporation – Profit |
|
Share Capital |
1,000 shares common, no par value |
Shareholders
with Shares
|
Shareholder Names |
Share% |
|
Private |
100 |
Board/Executive
|
Name |
Michael MAGERMAN |
|
Position within the company |
President |
|
Name |
Michael BONNER |
|
Position within the company |
Secretary &
Treasurer |
Changes in
Registration Data
None recorded
Activities
(realistic and officials)
Quickie Manufacturing Corporation is the maker and marketer of the
Ring-A-Mop, EZ-Wringer and QuickSweep brands of cleaning products.
Established in 1919 by Peter Vosbikian Sr. and Thomas Vosbikian, Quickie
is one of the largest North American providers of retail household cleaning
tools and related products.
Quickie produces and markets a complete line of household cleaning
tools, including mops, brooms, brushes, dusting tools and related accessories.
With headquarters in New Jersey, Quickie also operates domestic production
facilities in Lumberton, N.C., and El Paso, Texas.
It also has a facility in Cadereyta, Mexico.
Quickie Manufacturing Corporation maintains headquarters in Cinnaminson,
N.J.
Staff
|
Number of staff employed |
500 |
Export/Import
(Countries, goods and total values for the period)
|
Imports From |
Far East, South & Central America |
|
Exports To |
- |
Facilities
|
Owned |
Office and warehouse |
|
Premises Size |
5,000 sq. feet |
Branches
|
Address |
Lumberton, N.C., El Paso, Texas, Cadereyta, Mexico |
Bankers
|
Bank |
Mellon Bank |
|
Address |
1535 Market Street, Philadelphia, PA 19103 |
Suppliers,
Partners
|
Suppliers |
Not known |
|
Partners |
Not known |
Litigation,
Remarks on Payment
|
Litigation |
None Recorded |
|
Remarks on Payment |
No Complaints |
Financial
Information
|
Source |
Bank |
|
Figures are |
Declared |
|
Currency |
USD |
|
Months |
Sales Figures |
Sales |
|
12 |
31/12/2007 |
32,800,000= |
Reporter Comments
|
Comments |
The present report was
duly controlled with the Secretary. |
|
Local Reputation |
The company being investigated is believed by local reporters to be a Low Trade Risk and to be fair. According to our credit analysts, during the last 6 months, 91% of
trade experience indicates a regular payment. Payments of imports are currently made with an average of 5 to 10 days beyond terms. |
|
MAX CREDIT |
USD 800,000= |
|
CREDIT REQUIRED |
MAXIMUM CREDIT |
|
Maximum |
USD 800,000= |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.12 |
|
UK Pound |
1 |
Rs.72.59 |
|
Euro |
1 |
Rs.63.52 |
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. |
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%)