MIRA
INFORM REPORT
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Report Date : |
09.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
PACE PACKAGING
CORPORATION |
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Registered Office : |
3 Sperry Road, Fairfield , NJ 07004 |
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Country : |
United States |
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Date of Incorporation : |
14.05.1969 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Manufactures Packaging
Machinery |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 75,000 |
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Status : |
Small Company |
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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 |
75,000 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: |
Pace
Packaging Corporation |
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Address: |
3 Sperry Road, Fairfield ,
NJ 07004 USA |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (973) 227-1040 + 1 (973) 227-7393 0100865230 New Jersey Kenneth F. Regula,
President |
Date founded: |
May 14, 1969
Corporation for Profit N.A. 40 employees |
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Legal form: |
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Stock: |
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Staff: |
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Business: |
Manufactures packaging machinery |
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BANKS
Fifth Third Bank
Commerce Bank
Wells Fargo
BUSINESS
Business & Operations:
For 40 years Pace Packaging has been dedicated to manufacturing world
class Plastic Bottle Unscrambling Systems. The company feeds a wide variety of
containers at rates of up to 700 bottles per minute. With over 3,800 machines in 72 different countries around the
world, Pace has a world of experience in the following industries:
-Beverage,
-Dairy,
-Bottled water,
-Juice,
-Food,
-Household chemical,
-Car care and personal care,
-Motor oil,
-Bottle decorating and pharmaceutical.
Pace Packaging's 30,000 sq. ft. manufacturing facility and international
offices are located in Fairfield, NJ, 30 miles west of New York City.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The directors of the
company are:
Kenneth F. Regula,
President,
Glenn G. Kelley, Vice
President,
They are also two of the
main shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Pace Packaging 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 |
3,900,000 |
There is no legal filling listed with the District Court.
There is no active UCC file listed with the secretary of State of New Jersey.
LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
1 UCC Filing in 2007 by
Fifth Third Bank securing All Assets.
Amount: NA
1 UCC Filing in 2007 by
Commerce Bank NA securing General Intangibles.
Amount: NA
1 UCC Filing in 2007 by
Wells Fargo Equipment securing Equipment.
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
regular basis (monitored during the past 12 months).
The cash is correct.
Our final opinion:
This is a small company working worldwide.
A credit line may be
considered.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Correct Controlled Correct |
PUBLIC PAYMENTS |
None Regular |
ADVISED
CREDIT
75,000 USD
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.13 |
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UK Pound |
1 |
Rs.85.02 |
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Euro |
1 |
Rs.67.77 |
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%)