MIRA
INFORM REPORT
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Report Date : |
28.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
ACME
HARDESTY CO, INC. |
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Registered Office : |
450 Sentry Parkway Suite 104
Blue Bell, PA 19422 |
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Country : |
United States |
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Date of Incorporation : |
01.10.1986 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Oleochemicals Marketer. |
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 = EUR 64.5 Correct |
IDENTIFICATION
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Company Name: |
Acme Hardesty Co, Inc. |
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Address: |
450 Sentry
Parkway Suite 104 Blue Bell,
PA 19422 USA |
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Phone: Facsimile: ID: State: Managers: |
215-591-3610 215-591-3620 2080761 Delaware Philip Bernstein |
Date founded: |
01/10/1986
Corporation for Profit N.A. N.A. Employees: 78 |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Oleochemicals marketer. |
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BANKS
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CASCADES BANK
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BANK ONE
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JP MORGAN CHASE BANK
BUSINESS
Operations:
At the above address, we find the offices of Acme Hardesty Co, Inc.
Business:
Acme-Hardesty is a major marketer
and distributor of a wide variety of vegetable oil- and animal fat-based
oleochemicals, flavor and fragrance chemicals and industrial chemical products.
Its customers include
manufacturers of adhesives, coatings, lubricants, soaps, food, pharmaceuticals,
and personal care products.
Acme-Hardesty's
oleochemicals are imported from Asia, the Middle East, and South America.
Business
Overview:
The domestic demand for US chemicals, an indicator for chemical
distributors, is forecast to grow at an annual compounded rate of 5.2 percent
between 2007 and 2012. Chemical distribution is a cyclical business
dependent on industrial demand. The profitability of individual companies
depends on an efficient distribution system. Larger companies can offer more products
and services. Local and regional distributors can compete effectively through
superior service. The industry is highly automated; annual industry revenue per
employee is about $800,000.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The director of the company
is:
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Philip Bernstein, Chairman
and CEO.
The parent company is:
Jacob Stern & Sons,
Inc.
1464 E. Valley Rd.
Santa Barbara, CA 93108
United States
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Acme Hardesty does not publish its
financials.
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 |
57,000,000 |
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Operating profit |
2,900,000 |
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Net income |
1,500,000 |
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Net worth |
6,000,000 |
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Liabilities |
450,000 |
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Current assets |
34,000,000 |
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Fixed assets |
5,000,000 |
LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
0 UCC Security Filings
PAYMENT REFERENCES
Date High Credit Now
Owing Past Due Terms Payment
Record
RATING
The bank confirmed
satisfying trend of payment.
Payments are made usually
on 35 days net (monitored during the past 12 months).
The Company is in “good
standing”.
This means that all taxes
were paid on due date.
Cash is good.
Our final opinion:
This is a medium size
business working on the US market.
A business connection may
be conducted
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS
AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Correct Low Good |
PUBLIC PAYMENTS |
See Details Above 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%)