MIRA
INFORM REPORT
|
Report Date : |
13.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
FARGO ELECTRONICS, INC. |
|
|
|
|
Registered Office : |
1209 Orange Street, Wilmington, DE 19801 |
|
|
|
|
Country : |
United States |
|
|
|
|
Date of Incorporation : |
02.12.1999 |
|
|
|
|
Com. Reg. No.: |
Delaware 3134879 |
|
|
|
|
Legal Form : |
Corporation – Profit |
|
|
|
|
Line of Business : |
Development of Secure Technologies for identity card issuance systems,
including secure ID card printer/encoders, materials and software. |
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 500,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
Company
Name
FARGO ELECTRONICS, INC.
Company acronym: --
Contact Information
|
Address |
6533 Flying Cloud Drive Eden Prairie, MN 55344 USA |
|
Telephone |
952-941-9470 |
|
Fax |
952-941-7836 |
|
Website |
www.fargo.com |
Registration Data
|
Date of Registration |
December 2nd, 1999 |
|
Registration number |
Delaware 3134879 |
|
Legal address |
The Corporation Trust Company 1209 Orange Street, Wilmington, DE 19801 |
|
Legal Form |
Corporation – Profit |
Shareholders
with Shares
|
Shareholder Names |
Share% |
|
Hid Global Corporation 9292 Jeronimo Road, Irvine, CA 92618 |
100 |
Board/Executive
|
Name |
Gary Richard HOLLAND |
|
Position within the company |
Chairman |
|
Name |
Paul STEPHENSON |
|
Position within the company |
CFO |
Changes in
Registration Data
None recorded
Activities
(realistic and officials)
Founded in 1974, Minneapolis, Minnesota-based Fargo Electronics, Inc. is
a global leader in the development of secure technologies for identity card
issuance systems, including secure ID card printer/encoders, materials and
software.
Fargo merged with a wholly owned subsidiary of ASSA ABLOY’s, HID Global
Corporation in August, 2006. HID is a leading supplier and manufacturer in the
access control industry, serving customers worldwide with proximity and
contactless smart card technologies; central station managed access
controllers; secure and custom card solutions; digital identity and photo card
management software solutions; and electronic cylinders.
Staff
|
Number of staff employed |
225 |
Export/Import
(Countries, goods and total values for the period)
|
Imports From |
Europe, Far East |
|
Exports To |
South & Central America |
Facilities
|
Owned |
Manufacture, warehouse and office |
|
Premises Size |
10,000 sq. feet+ |
Subsidiaries
and Participation
|
Parent Company |
Hid Global Corporation |
Bankers
|
Bank |
Bank of America JP Morgan Chase Bank |
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 |
17,800,000= |
Reporter Comments
|
Comments |
Business started as
FARGO ELECTRONICS, INC. incorporated in Minnesota on 01-23-1985 under ID#
4V-759, merged into the Delaware company on 02-15-2000 |
|
Local Reputation |
The company being investigated is believed by local reporters to be a Medium Trade Risk and to be
fair. According to our credit analysts, during the last 6 months, 84% of
trade experience indicates a regular payment. Payments of imports are currently made with an average of 10 to
15 days beyond terms. |
|
MAX CREDIT |
USD 500,000= |
|
CREDIT REQUIRED |
MAXIMUM CREDIT |
|
Maximum |
USD 500,000= |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.94 |
|
UK Pound |
1 |
Rs.72.07 |
|
Euro |
1 |
Rs.64.70 |
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%)