MIRA
INFORM REPORT
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Report Date : |
24.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
THE MODERN GROUP LTD |
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Registered Office : |
1655 Louisiana
St, Beaumont, TX 77701-1120 |
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Country : |
United States |
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Date of Incorporation : |
17.05.2001 |
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Legal Form : |
Limited Liability Corporation |
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Line of Business : |
Manufacturing
farm machinery, equip manufacturing machine tool access, hand and edge tools |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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: |
THE MODERN GROUP
LTD Dba Dragon Esp; Dragon Products; Modern Ag Products; Modern Manufacturing |
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Address: |
1655 Louisiana
St, Beaumont, TX
77701-1120, United
States |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (409) 833-2665 + 1 (409) 833-3170 0015158210 Texas Will Crenshaw, President |
Date founded: |
May 17,
2001 Limited liability corporation N.A. 75 employees |
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Legal form: |
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Stock: |
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Staff: |
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Business: |
Manufacturing farm
machinery, equip manufacturing machine tool access, hand and edge tools |
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BANKS
BANK OF AMERICA
THE
FROST NATIONAL BANK
BUSINESS
Operations &
Business:
The Modern Group Ltd also does business as Dragon Esp; Dragon Products; Modern
Ag Products; Modern Manufacturing.
The Modern Group Ltd is a private company headquartered in Beaumont,
Texas. Dragon Esp's line of business is manufacturing farm machinery, equip
manufactiring machine tool access, hand and edge tools.
Industry Overview:
The distribution of farm and garden equipment in the US is handled by
about 1,400 wholesalers and 5,000 dealers, with combined annual revenue of $40
billion. The typical distributor is privately held and has less than $10
million in annual sales. The industry is fragmented: the 50 largest
distributors hold about 35 percent of the market. Only a few distributors
operate more than one location.
Demand is driven by the health of the farming sector, which is tied to
crop prices. The profitability of individual companies depends on good
merchandising and efficient operations. Large distributors have few economies
of scale but can offer customers a wider range of products. Small distributors
can compete successfully by holding exclusive territory rights to popular
products. The industry is only moderately automated: average annual sales per
employee are about $350,000.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The
directors of the company are:
Will
Crenshaw, President,
Casey
Crenshaw, Director.
The
Crenshaw family is also the main shareholder.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
The Modern Group Ltd 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 |
5,900,000 |
There is no legal filling listed with the District Court.
There are several active UCC files in favor of banks and financial
institutions listed with the Secretary of State of Texas.
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.
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The cash flow is correct.
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Payments are made on a regular basis.
Our final opinion:
This is a medium 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 |
Correct Controlled Correct |
PUBLIC RECORDS PAYMENTS |
See above regular |
LOCAL AGENCY FURTHER INFORMATION
FURTHER DETAILS:-
HISTORY
They are a family of
companies dedicated to customer service and satisfaction which consist of
Dragon Products, Dragon Rigs Sales and Service, Dragon Centrifugal Pumps Sales and
Service, Tiger Offshore Rentals, Tiger Industrial Rentals, Tiger Safety, Modern
Ag Products and MG Finance.
They have now
maintain seven separate manufacturing facilities in Beaumont, Silsbee, Liberty,
and La Porte, Texas along with Lathrop California and Akron, Indiana.
The Company products
include equipment for oilfield and offshore use as well as marine industries.
Their latest list of products include: Roll-Off Containers, Frac Tanks,
Intermodal Containers, Storage Tanks, 130 and 150 Barrel Vacuum Tankers, IM-101
Tanks, DNV Cuttings Boxes, Pallet Boxes, Rolling Tail Boards, 4 and 5 Axle
Trailers with removable hitch, Drilling Rig Masts, Crude Hauling Aluminum
Tankers, Dry Bulk Aluminum Trailers, 150 Barrel Aluminum Vacuum Tankers and
their latest products the Frac Pumping Trailer Packages, Drilling Rigs and
Work-Over Rigs.
Tiger Off-Shore
Rentals, their wholly-owned subsidiary is a full line marine and tank rental
company. They serve the industry from rental locations in Venice, Port
Fourchon, Intercoastal City, Cameron, Beaumont, Galveston, and Trinidad-West
Indies. Their stocking locations include Port O’Connor, TX, Harbor Island, TX
and Theodore, AL.
Tiger Industrial
Rentals is the answer when it comes to pressure washers, hydro-blasters, and
generator rentals.
Tiger Safety, their
newest venture headquartered in Lafayette, handles safety equipment such as gas
monitors, breathing air, and a full line of confined space entry equipment.
Dragon Rig Sales and
Service provide sales and service from locations in Victoria and Odessa Texas.
Their new work-over drilling rigs are ready to go to work or, have the existing
equipment refurbished in their acre-plus under roof repair and make-ready
facilities. In addition to a large supply of spare parts, they stock BOP”S,
Rotary Tables, Traveling Blocks, McKissick Tubbing Blocks, TEDA Power Tongs,
and Brake Block Sets and rims to fit all rigs.
Dragon Pump and
Sales and Service provides custom fabrication to meet their customers’ specific
needs in the Petrochemical, Shipping, Drilling, Agricultural and Mining
industries. All internal pump parts, such as bearings, shafts, and mechanical
seals are from the highest quality parts and materials made in the USA. All
Dragon Pumps and packages are assembled in their plant. They warehouse a huge
supply of motors by Baldor and Reliance and starters by Sprecher &
Schuh/Allen Bradley
Modern Livehaul
Products are the best in galvanized cages and parts in the poultry industry.
DRAGON PRODUCTS:-
·
Dragon Tanks
·
Dragon Rigs
·
Dragon Pumps
§ Mud Guns
Dragon Trailers
§
3 Axle Removable Neck Trailer
§
Truck Transfer and 10 Wheel Box
Stick Charts
Used Equipment
Their inventory of used equipment is constantly changing.
·
Mobile & Skid Mounted Frac Tanks
·
Drop Deck / Flatbed Trailers
·
Trucks
Tiger
Safety Services
· High Entry Rescue Teams
· Confine Space Rescue Teams
· Contingency Plans
· H2S Safety Equipment
· On Site Safety Consultants
· On Site EMT
Tiger Training Center
· Well Control
· Job Safety Analysis and Permits
· Confine Space Safety
· Confine Space Rescue
· Defensive Driving
· Hazardous Material Response
· Medical Training
· Fall Protection Usage
· Poison Gas Safety
Complete Lines Of:
· (PPE) Personal Protective Equipment
· Portable Explosion Proof Lighting
· Fixed & Portable Gas Detection
· Intrinsically Safe Portable Radio’s
· Confine Space Rescue and Entry Equipment
· NORM Meters and Related Supplies
· Generators
· Emergency Response Supplies
· Oil Spill Cleanup Supplies
· Decon Station
· Portable Showers
· Washer & Dryer Facilities
· Plant Turn Around Supplies
Modern
AG Products
· 10' Offset Flex Predator Cutters
· Super Highway Special Cutters
· Competitor XL "The Clipperrr"
· The Chopperrr Skid Steer Mower
· The Groomerrr Finishing Mower
· Tillers, Discs, Rock Rakes, Spreaders & Augers
· Sprayer, Bale Spears, Aereators & Cranes
· Facts about Hot-Dipped Galvanizing
Modern
AG Parts
· Bearings, Sprockets & Roller Chain
· Container, Tank, Vacuum & Hose Parts
· Winches, Chains & Trailer Jacks
· Livehaul
· Tools
· Replacement Parts for Shortlines
CONTACT DETAILS :-
The
Modern Group - Corporate
1655 Louisiana
Beaumont, TX 77701
Phone 409-833-2665
Toll
Free 800-231-8198
Fax 409-833-3170
Accounting
Fax
409-813-1036
Dragon
Products, Ltd
816 w. Barbours Cut Blvd.
La Porte, TX 77571
Phone 281-470-1903
Toll
Free 877-231-8198
Fax 281-470-1954
Dragon
California
15700 South Mc Kinley Ave
Lathrop, CA 95330
Phone 209-858-9125
Toll
Free 888-548-5737
Fax 209-858-2592
Dragon
Indiana
8857 E. State Road 14
Akron, IN 46910
Phone 574-893-1569
Fax 574-893-1480
Dragon
- Liberty
205 FM 1909
Liberty, TX 77575
Phone
936-334-0182
Fax 936-334-0614
Toll
Free 866-914-8198
Dragon
Parts
1690 Gladys
Beaumont, TX 77701
Phone 409-212-0200
Fax 409-212-0201
Dragon
- Silsbee North
972 FM 92 North
Silsbee, TX 77656
Phone 409-386-0589
Fax 409-386-1835
Dragon
- Silsbee South
580 Willard Lake Road
Silsbee, TX 77656
Phone 409-832-4700
{Ext. 178 & 179 }
Fax 409-755-7403
Dragon
Rig Sales & Services
11901 US Highway 59 North
Victoria, TX 77905
Phone 361-576-0682
Fax 361-576-6209
Dragon
Rig Sales & Services
2725 N. Golder Ave
Odessa, TX 79764
Phone 432-332-8426
Fax 432-332-8430
Dragon
Rig Workshop
1309 commercial
Victoria, TX 77901
Phone
361-576-3020
MG
Finance
333 N. Sam Houston Pkwy. E.
Suite 400
Houston, TX 77905
Phone
281-582-8995
Fax 281-582-8996
Toll
Free 800-231-8198
Modern
Ag Products, Ltd
1655 Louisiana
Beaumont, TX 77701
Phone 409-833-2665
Toll
free 877-382-2665
Fax 409-838-6607
Modern
Ag - Tilson Plant
1901 Tilson St.
Beaumont, TX 77701
Phone
409-833-2665
Fax 409-833-2637
Tiger
Offshore Rentals - Port Fourchon
109 NJ Theriot
Golden Meadow, LA 70357
Phone 985-396-4462
Fax 985-396-3063
Tiger
Offshore Rentals - Cameron
374 Wakefield Rd
Cameron, LA 70631
Phone 877-844-3791
Fax 337-775-7222
Tiger
Offshore Rentals - Intercoastal City
21793 Hwy 333
Abbeville, LA 70510
Phone 337-898-2124
Fax 337-898-2165
Tiger
Offshore Rentals - Venice
501 Tidewater Rd
Venice, LA 70091
Phone 985-534-9960
Fax 985-534-9980
Tiger
Offshore Rentals - Galveston
1300 Coastwide Drive
Galveston, TX 77553
Phone 409-744-0995
Fax 409-744-4262
Tiger
Offshore Rentals - Trinidad
Western Main Road
Chaguaramas, Trinidad, WI
Phone
868-634-1984
Tiger
Safety
1352-A Petroleum Parkway
Broussard, LA. 70518
Phone 337-365-5220
Toll
Free 888-365-5220
Fax 337-365-5231
Tiger
Industrial - Beaumont
1313 Gulf Street
Beaumont, TX 77701
Phone
409-832-9336
Fax 409-832-9344
Tiger
Industrial - Pasadena
1411 Preston Ave.
Pasadena, TX 77503
Phone
713-472-5222
Fax 713-472-5585
Tiger
Industrial - Parachute
109 Mosher
Parachute, CO
Toll
Free 888-866-0047
Fax 409-832-9344
Tiger
Industrial - Sulphur
333 Carbide Dr
Sulphur, LA 70665
Phone 337-708-9980
Fax 337-708-9981
Will
Crenshaw-President
1655 Louisiana Street
Beaumont, Texas 77701
Phone: 409-833-2665
USA Toll Free: 800-231-8198
Fax: 409-833-3170
will.crenshaw@modernusa.com
Casey
Crenshaw
1655 Louisiana Street
Beaumont, Texas 77701
Phone: 409-833-2665
USA Toll Free: 800-231-8198
Fax: 409-833-3170
casey.crenshaw@modernusa.com
Doug
Fierce
1655 Louisiana Street
Beaumont, Texas 77701
Phone: 409-833-2665
USA Toll Free: 800-231-8198
Fax: 409-833-3170
doug.fierce@modernusa.com
Dragon
Products Tanks/Tank Trailers/Waste Equipment
John Swift-Sales Manager
816 W. Barbours Cut Blvd.
La Porte, Texas 77571
Phone: 281-470-1903
USA Toll Free: 800-231-8198
Fax: 281-470-1954
john.swift@modernusa.com
Randy
Prater-Sales
816 W. Barbours Cut Blvd.
La Porte, Texas 77571
Phone: 281-470-1903
USA Toll Free: 800-231-8198
Fax: 281-470-1954
randy.prater@modernusa.com
Dragon
Rigs Sales and Service
Jimmy Jones-General Manager
11901 US Highway 59 North
Victoria, Texas
Phone: 361-576-0682
USA Toll Free: 800-231-8198
Fax: 361-576-6209
jimmy.jones@modernusa.com
Ricky
Plymell-Sales Manager
2725 Golder Ave
Odessa, Texas 79764
Phone: 432-332-8426
USA Toll Free: 800-231-8198
Fax: 432-332-8430
ricky.plymell@modernusa.com
Dragon
Pumps/Oilfield Stimulation Equipment
Tom Inman-Vice President
205 FM 1909
Liberty, Texas
Phone: 936-334-0182
USA Toll Free: 866-914-8198
Fax: 936-334-0614
tom.inman@modernusa.com
Bob
Griffin-Inside Sales Coordinator
205 FM 1909
Liberty, Texas
Phone: 936-334-0182
USA Toll Free: 866-914-8198
Fax: 936-334-0614
bob.griffin@modernusa.com
Johnny
Aguilar-Technical Manager
205 FM 1909
Liberty, Texas
Phone: 936-334-0182
USA Toll Free: 866-914-8198
Fax: 936-334-0614
Cell: 409-504-9564
johnny.aguilar@modernusa.com
Ranco
Trailers
Bill Carder-Vice President
700 Crystal Street
Lamar, Colorado 81052
Phone: 719-336-9041
USA Toll Free: 800-631-5708
Fax: 719-336-5952
bcarder@rancotrailers.com
Tiger
Offshore
Colby Crenshaw-Vice President
1313 Gulf Street
Beaumont, Texas 77701
Phone: 409-832-9336
Fax: 409-832-9344
USA Toll Free: 877-844-3791
colby.crenshaw@modernusa.com
Tiger
Offshore Central Dispact
109 NJ Theriot
Golden Meadow, Louisiana 70357
Phone: 985-396-4462
Fax: 985-396-3063
USA Toll Free: 877-844-3791
tiger.dispatch@modernusa.com
Tiger
Industrial
Stephen Mouton-Branch Manager
1313 Gulf Street
Beaumont, Texas 77701
Phone: 409-832-9336
Fax: 409-832-9344
USA Toll Free: 877-844-3791
stephen.mouton@modernusa.com
Bryan
Trahan-Blast Resistant Buildings
1411 Preston
Pasadena, Texas 77503
Phone: 713-472-5222
Fax: 713-472-5585
USA Toll Free: 800-231-8198
bryan.trahan@modernusa.com
Tiger
Safety
Don Ludvich-General Manager
1352-Petoleum Parkway
Broussard, Louisiana 70518
Phone: 337-365-5220
Fax: 337-365-5231
USA Toll Free: 888-365-5220
don.ludvich@modernusa.com
Remo
Abraham-Sale and Service
1352-Petoleum Parkway
Broussard, Louisiana 70518
Phone: 337-365-5220
Fax: 337-365-5231
USA Toll Free: 888-365-5220
remo.abraham@modernusa.com
Modern
Ag Products
Orain Tubbs-President
1655 Louisiana Street
Beaumont, Texas 77701
Phone: 409-833-2665
USA Toll Free: 800-231-8198
Fax: 409-832-5808
orain.tubbs@modernusa.com
David
Olson-Parts Manager
1655 Louisiana Street
Beaumont, Texas 77701
Phone: 409-833-2665
USA Toll Free: 800-231-8198
Fax: 409-726-8333
david.olson@modernusa.com
Tiger
Industrial - Beaumont
1313
Gulf Street
Beaumont, TX 77701
Phone: 409-832-9336
Tiger
Industrial - Pasadena
1411
Preston Ave.
Pasadena, TX 77503
Phone: 713-472-5222
Tiger
Industrial - Colorado
109
Mosher
Parachute, CO 81635
24 HOUR DISPATCH
1-888-866-0047
Tiger
Industrial - Sulphur
3334
Carbide Drive
Sulphur, LA 770665
24 HOUR DISPATCH
1-888-866-0047
RATING
EXPLANATIONS
|
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 |
|
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 |
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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%)