MIRA INFORM REPORT

 

 

 

Report Date :

09.06.2008

 

IDENTIFICATION DETAILS

 

Name :

THE HEIL CO

 

 

Registered Office :

6400 Bldg D 5751 Cornelis, Chattanooga, TN 37411

 

 

Country :

United States

 

 

Date of Incorporation :

04.23.1993

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Manufactures Truck, Bus Bodies and Truck Trailers.

 

 

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 2,000,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

 

REQUIRED CREDIT

 

 

ADVISED CREDIT

 

 

MAXIMUM

 

 

2,000,000 USD

 

 

GEOPOLITICS

 

 

POLITICAL DATA

 

 

ECONOMIC DATA

FORM OF GOVERNMENT

 

ECONOMIC RISK

Federal

 


None

 

CURRENCY

 

BRANCH SITUATION

 

USD

 

Satisfying

 

 

IDENTIFICATION

 

 

Company Name:

 
 

 THE HEIL CO. Dba Heil Environmental Industries; Heil Trailor International.

 

 

 

 

Address:

 

 

6400 Bldg D 5751 Cornelis,

Chattanooga, TN 37411,

United States  

 

Phone:

 

Facsimile:

 

ID:

 

State:

 

Managers:

 

+ 1 (423) 899-9100

 

+ 1 (423) 855-3478

 

2333711

 

Delaware

 

Michael Jobe, President

 

 

Date founded:

 

 

04/23/1993


 

Corporation for Profit

 

N.A.

 

 

 

2000 employees

 

Legal form:

 

Stock:

 

 

 

Staff:

Business: 

Manufactures truck, bus bodies and truck trailers.

 

 

 

BANKS

 

Wells Fargo

 

 

BUSINESS

 

Operations & Business:

 

The Heil Co. also does business as Heil Environmental Industries; Heil Trailor International.

 

The Heil Co. is a private company headquartered in Chattanooga, Tennessee. Heil Environmental Industries' line of business is manufacturer of truck, bus bodies and truck trailers.

 

The company is working worldwide.

 

Industry Overview

 

About 4,000 distribution outlets for material handling equipment in the US generate combined annual sales of $15 billion, about half due to lift truck sales. Most distributors are privately owned, single-location companies, although manufacturers like NACCO also own some dealers. Among the largest lift truck manufacturers are NACCO Industries in the US, Linde AG in Europe, and Toyota in Asia. The industry is highly fragmented: the 50 largest companies hold about 35 percent of the market.

 

Demand depends on the quantity of goods moving through the US economy. The profitability of individual distributors depends on good marketing.

 

Small distributors can compete by specializing in a specific industry or type of equipment, or by offering excellent service programs. Large distributors can negotiate favorable agreements with manufacturers. Average annual revenue per employee is over $250,000.

 

 

SHAREHOLDERS – SUBSIDIARIES – MANAGERS

 

The directors of the company are:

 

Michael Jobe, President,

 

Glenn Chambers, Member,

 

Richard Mills, Director of Engineering and Science Department.

 

The parent companies are Dover Corporation, Dover Industries, Inc.

 

Dover Corporation

280 Park Ave Fl 34,

New York, NY 10017-1215,

United States

 

Dover Industries, Inc.

675 Tollgate Rd Ste N,

Elgin, IL 60123-9352,

United States  

 

 

FINANCIALS – COMMERCIAL TRENDS AND FORECAST

 

The Heil Co. does not publish any financial statement.

 

However our financial sources could provide us with the following information:

 

Fiscal Year

In USD

 

12/31/2007

Turnover

217,000,000

 

 

LEGALS

 

1 Suit in 2007 by Kerry Crane.  Reason & Amount: NA

1 Suit in 2006 by Jeffrey Simpson. Reason & Amount: NA

All Previous Suits have been cleared.

 

1 Judgment in 2007 in favour of Norman Lee Crowe.  Reason & Amount: NA

 

0 Liens

 

0 Collection Claims Reported

 

0 NSF Cheques Reported

 

1 UCC Filing in 2007 by Canon Financial Services securing Equipment.  Amount: NA

1 UCC Filing in 2005 by Koch Financial Corp securing Equipment.  Amount: NA

1 UCC Filing in 2005 by Wells Fargo Financial 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 large company working worldwide.

 

A credit line may be considered.

 

 

SUMMARY

 

 

FINANCIAL SUMMARY

 

 

DEBT COLLECTIONS AND PAYMENTS

PROFITABILITY

 

INDEBTNESS

 

CASH

 

Correct

 

Controlled

 

Correct

 

 

PUBLIC

 

PAYMENTS

 

 

None

 

Regular

 

 

ADVISED CREDIT

 

2,000,000 USD

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.43.13

UK Pound

1

Rs.85.02

Euro

1

Rs.67.77

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions