MIRA
INFORM REPORT
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Report Date : |
29.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUN CHEMICAL CORPORATION |
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Registered Office : |
35 Waterview Blvd., Parsippany, NJ 07054 |
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Country : |
United States |
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Date of Incorporation : |
01.12. 1986 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Manufacture Inks and
Coatings |
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 : |
> 3,000,000 USD |
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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 |
> 3,000,000 USD |
GEOPOLITICS
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POLITICAL DATA |
ECONOMICAL DATA |
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FORM OF GOVERNMENT POLITICAL RISK |
Federal Nil |
CURRENCY BRANCH SITUATION |
USD 100 = 65 € Growing |
IDENTIFICATION
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Company Name : |
SUN CHEMICAL CORPORATION |
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Address : |
35 Waterview Blvd., Parsippany, NJ 07054 |
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Phone : Facsimile : Website: ID : State: Managers : |
973-404-6000 sunchemical.com 2109148 Delaware Pt and CEO : Rudy Lenz |
Date founded : |
December 1st, 1986 Corporation – Profit 12,000 shares USD 1= 11,800 |
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Legal form : |
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Stock : Value: |
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Staff: |
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Business : |
Manufacture inks and coatings |
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BANKS
Bank of America
BUSINESS
Your request in on the Pigment division of Sun Chemical Corp
C Pigment Division, 5020 Spring Grove Avenue,
Cincinnati, registered as an non incorporated division in OHIO under
file 136593
History
Prior to 1987, Sun
Chemical was a publicly traded company on the New York Stock Exchange (NYSE).
In 1987, DIC purchased the company's graphic arts division and the name
"Sun Chemical Corporation." The remainder of the "old" Sun
Chemical today operates as SEQUA Corporation. SEQUA is still a publicly traded
company on the NYSE. If you hold stock in the name of Sun Chemical Corporation,
you, in fact, hold stock in SEQUA.
( source :
corporate Website of the group )
Business
The Company is incorporated
in Delaware for tax purposes.
Headquarters are located at
above address.
Sun Chemical was purchased
in 1987 by Dainippon Ink and
Chemicals (DIC), itself a maker of
inks and coatings.
In addition to inks and
coatings for paper, packaging, metal, and other products, Sun Chemical manufactures
printing plates for corrugated packaging. Its inks and coatings
products are sold under the
Sun Chemical, Kohl & Madden, US Ink, and Coates brands.
The company, the world's
largest inks maker, operates about 300 manufacturing, sales, and service
locations in Europe and the Americas.
Sun Chemical Corporation
has formed Sun Chemical Security, a new global business unit that will provide
a wide range of products used to print packages, documents and currency that
incorporate security measures. The unit also will market forensic security
systems to ensure authenticity of the products themselves.
As commerce transcends
national borders and electronic boundaries, businesses are becoming
increasingly concerned about the security of their products and brands, while
also protecting their credit customers. Governments, too, are anxious about
lost taxes and tariffs due to smuggling and counterfeit products, as well as
more sophisticated counterfeiting of currencies, passports, bonds and other
financial instruments.
Sun Chemical Security is located: 85 Westbrook Road
Centerbrook, CT 06409
Tel: +1-860-767-7711 x132
Fax: +1-860-767-0529
SHAREHOLDERS
– SUBSIDIARIES - MANAGERS
The Company is privately
held.
Sun Chemical Corporation in the U.S. and Sun Chemical Limited in England
are subsidiaries of Sun Chemical Group B.V., the Netherlands.
The stock is divided into:
- 2,000 shares common at USD 1=
- 10,000 shares preferred
at USD 1=
The ultimate parent company
is: Dainippon Ink & Chemicals Inc.
DIC Bldg., 7-20, Nihonbashi 3-chome, Chuo-ku
Tokyo, 103-8233, Japan
The Group employs about
25,000 people with 228 subsidiaries and affiliates in 60 countries, the total revenues are
about USD 8,5 Billion.
Management include:
Rudy LENZ President and Chief Executive Officer
Melvin M. Cox, Senior Vice President, General Counsel and Corporate
Secretary
Suzan Guerin , Senior Vice President and
Chief Financial Officer
FINANCIALS
- COMMERCIAL TRENDS AND FORECAST
As a private company, that
corporation does not publish any financials.
However our
reporters were able to obtain the following figures :
The turnover for the year
2004 was USD 4,234 Million and net income was USD 78 Million
The turnover for the year
2005 was USD 4,567 Million and net income was USD 210 Million
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Fiscal Year |
2006 |
2007 |
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TURNOVER
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4.612 Million |
4,875 Million |
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GROSS
PROFIT |
217 Million |
238 Million |
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NET
INCOME |
- |
242 Million |
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NET
WORTH |
- |
- |
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LIABILITIES |
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180 Million |
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CURRENT
ASSETS |
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4,100 Million |
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FIXED
ASSETS |
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300 Million |
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There are several UCC files
listed with the Secretary of State.
No legal filing listed with
the District Court.
RATING
Local credit bureau gave a
good credit rate.
The Company is in “good
standing”.
This means only that all
local and federal taxes were paid on due date.
Last annual report was
filed on July 28, 2007
As far as we know, payments
are made on regular basis of 32 days , observed during the year 2007
Cash-flow is said to be
regular and the business is profitable.
This is a top large
business working on a worldwide market.
A large credit line may be considered.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Satisfying Controlled Large |
PUBLIC RECORD PAYMENTS |
No Regular |
ADVISED
CREDIT
> 3,000,000 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%)