MIRA
INFORM REPORT
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Report Date : |
11.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
THE WALLACE FORGE COMPANY |
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Registered Office : |
3700 Georgetown Rd Ne, Canton, OH 44704-2697 |
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Country : |
United States |
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Date of Incorporation : |
29.07. 1966 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Manufacturing Nonferrous
Forgings, Truck, Bus Bodies, Ductile Iron Foundry |
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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Status : |
Small Company |
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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
WALLACE FORGE COMPANY |
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Address: |
3700 Georgetown
Rd Ne, Canton, OH
44704-2697, United
States |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (330) 488-1203 + 1 (330) 488.1217 353077 Ohio Hunter Wallace, President. |
Date founded: |
July 29, 1966 Corporation for profit N.A. 60 employees |
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Legal form: |
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Stock: |
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Staff: |
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Business: |
Manufacturing nonferrous forgings, truck, bus bodies,
ductile iron foundry |
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BANKS
FIRSTMERIT BANK
CITIZENS NATIONAL BANK
BUSINESS
Operations, Business & History:
The Wallace Forge Company is a private
company located in Canton, Ohio. The Wallace Forge Company's line of business is
manufacturing non ferrous forgings, truck, bus bodies, and ductile iron
foundry.
The Wallace Forge Company was founded in 1942 by Emery R. Wallace.
The Wallace Forge Company started doing Die work and then progressed to doing
custom forgings. It was truly a family business with Martha Wallace Doing the
book keeping and Emery Wallace sinking the dies.
In the 1950's Eugene Wallace, Emery's son, joined the family business
after completing high school. Eugene Wallace shifted the direction from custom
jobs to manufacturing its own products. To this day The Wallace Forge Company
has developed new products in the trucking industry to its industry.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The
director of the company is:
Hunter
Wallace, President.
The
Wallace family is the main shareholder.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
The Wallace Forge Company 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 |
4,600,000 |
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 Ohio.
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 PAYMENTS |
See above regular |
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%)