MIRA
INFORM REPORT
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Report Date : |
19.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
COLD SPRING GRANITE COMPANY |
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Registered Office : |
202 S. 3rd Ave Cold Spring MN 56320 |
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Country : |
United States |
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Date of Incorporation : |
10.7.1920 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Importer and Distributor
of Tile. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 2,000,000 |
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Status : |
Good |
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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 |
2,000,000 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 100 = 64 EUR Satisfying |
IDENTIFICATION
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Company Name: |
COLD SPRING GRANITE COMPANY |
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Address: |
202 S. 3RD AVE COLD SPRING MN
56320 USA |
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Phone: Facsimile: ID: State: Managers: |
320-685-3621 320-685-8490 388-AA MINNESOTA Patrick D ALEXANDER Chief Executive Officer |
Date founded: |
10/7/1920 Corporation For Profit N.A. N.A. 1 300 Employees |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Importer and distributor of tile. |
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BANKS
U S BANCORP
BUSINESS
Operations:
At the above address, we find the company’s headquarters.
Business:
Cold Spring Granite Company, Inc. engages in the quarrying, fabrication,
and sale of building and residential stone, and memorialization products.
The company focuses on manufacturing granite for exterior building
applications. Its products and services include upright monuments, sandblasted
markers, pre-assembled bronze markers on granite bases, urns and columbariums,
community and family mausoleums, construction services, and specialty cemetery
products.
The company also provides a range of landscape and paving materials,
thin-set and cut-to-size granite floor tile, granite slabs for countertops and
furniture, industrial products, raw quarry blocks, and diamond tools; materials
for civic memorials and national monuments; and upright monuments, flat
markers, cast bronze and granite bases, cremation products from urns to columbariums,
benches, specialty cemetery features, and private estate family mausoleums.
It serves architects, designers,
building owners, developers, and general contractors worldwide.
Cold Spring Granite Company,
Inc. was founded in 1898 and is based in Cold Spring, Minnesota.
Business
Overview:
In the United States,
investment in residential construction as a
result of an imbalance between a surplus offering in the marketplace and
declining demand, generated by a 100% price increase over a period of 10 years
(with significant household debt). This trend has had a negative impact on the
sector’s professionals, and notably suppliers of wooden components (structures,
frameworks, panels etc), building contractors and even property developers, who
have had to offer reductions or sales incentives. This trend is likely to
continue, or even intensify, in 2007.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
Cold Spring Granite Company, Inc. owned by the Alexander family.
Patrick D. Alexander,
Chairman, CEO
Patrick J. Mitchell,
President and COO
Cold Spring Granite Company
currently owns and operates five fabrication locations in four states and
Canada, 30 quarries in six states and Canada,
MANAGEMENT:
Alexander, Patrick Chief
Executive Officer
Schnepf, George Chief
Financial Officer
Weigel, Philip Vice
President, Marketing and Sales
Gorres, Chuck Director of
Human Resources
Mueller, John Director of
Sales
Phillips, Johnny Director
of Sales
Hornung, Mike Sales Manager
Stacy Corporate Communications
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
As a privately held company, Cold Spring Granite Company, Inc. is not
obliged to publish financial information.
However our
financial sources provided us with the following figures.
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Sales for the year 2007 are
in the range of USD =$ 68,000,000.
There are 76 UCC files
listed with the Secretary of State in favor of banks, leasing companies or
financial institutions.
A litigation search shows no significant
legal actions in the name of the subject firm.
RATING
Local credit bureau gave a high 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 good.
Trend of payments:
Payments are made usually on 39 days net as monitored during the year
2007.
Branch payments trend:
In the United States,
during the year 2006:
- 84% of the companies in
that branch were developing the business on a low risk of late payment,
- 12%, on a medium risk,
and
- 4% on a high risk of late payment.
- 60% saw sales stable
versus last 3 years
- 4% declining
- 36% saw the business growing.
A high percentage of late
payment may indicate that companies in this industry are experiencing cash flow
problems, that suppliers generally accept late payment as part of doing
business, or that on-time payment is not customary in this industry.
Companies entering such
markets should not expect to be paid on time.
Our final opinion
This is a very large business working on the US and international
markets.
We estimate that
the Company doesn't present any risk.
A credit line may
be considered.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS
AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Good Controlled Large |
PUBLIC PAYMENTS |
No Regular |
ADVISED
CREDIT
2,000,000 USD
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%)