MIRA
INFORM REPORT
|
Report Date : |
28.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
VERTELLUS PERFORMANCE MATERIALS, INC |
|
|
|
|
Registered Office : |
2110 High Point Rd, Greensboro NC
27403 |
|
|
|
|
Country : |
United States |
|
|
|
|
Date of Incorporation : |
18.08.1983 |
|
|
|
|
Legal Form : |
Corporation for Profit |
|
|
|
|
Line of Business : |
Manufactures Agricultural
,Industrial and Organic Chemicals |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 1,500,000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
REQUIRED CREDIT |
ADVISED CREDIT |
|
MAXIMUM |
1,500,000 USD |
GEOPOLITICS
|
POLITICAL DATA |
ECONOMIC DATA |
||
|
FORM OF GOVERNMENT ECONOMIC RISK |
Federal
|
CURRENCY BRANCH SITUATION |
USD 100 = EUR 65 Correct |
IDENTIFICATION
|
Company Name: |
Vertellus Performance Materials, Inc (Subsidiary of Vertellus Specialties
Inc.,Indianapolis, IN) |
||
|
Address: |
2110 High Point Rd Greensboro
NC 27403 USA |
||
|
Phone: Facsimile: ID: State: Managers: |
336-292-1718 336-854-4058 0097965 North Carolina David Gleeson, President |
Date founded: |
Aug 18,1983
Corporation for Profit N.A. N.A. Employees: 94 |
|
Legal form: |
|||
|
Stock: Value: |
|||
|
Staff: |
|||
|
Business: |
Manufactures Agricultural ,Industrial & Organic Chemicals |
||
BANK
-
BANK OF AMERICA.
BUSINESS
Operations:
At the above address, we find the offices of the company Vertellus
Performance Materials, Inc.
Business:
Vertellus Performance
Materials, Inc is a manufacturer of:
- Fragrance Additives,
- Impact Modifiers,
- Lubricants,
- Plasticizers.
It also produces castor and
citrate polymer additives for use in plastics, adhesives, coatings, and
sealants.
The company works on the US
market.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The director of the company
is:
-
David Gleeson, President.
The company is a wholly
owned subsidiary of Vertellus Specialties Inc.
Vertellus Specialties Inc.
300 N. Meridian St., Ste.
1500
Indianapolis, IN 46204
United States
About Vertellus Specialties Inc.
Vertellus
is a specialty chemicals company focused on the manufacture of high-growth,
high-value products to the agricultural, nutritional, pharmaceutical, personal
care and performance materials markets. The majority of the Company's annual
sales are derived from products that lead their respective markets. Vertellus
benefits from a global supply chain, a technologically advanced and flexible
global manufacturing base and long-standing, contract relationships with
significant blue-chip clients. Vertellus also holds a number of industry
trademarks, registrations and patents. Vertellus has approximately 750
employees and is headquartered in Indianapolis, Indiana.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Vertellus Performance Materials does not publish its financials.
However
our financial sources could provide us with the following information:
|
Fiscal Year In USD |
12/31/2006 |
|
Turnover |
49,000,000 |
|
Operating profit |
3,200,000 |
|
Net income |
2,500,000 |
|
Net worth |
7,000,000 |
|
Liabilities |
600,000 |
LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
1 UCC Security Filing in
2007 by Federal Equipment Company securing Equipment. Amount:NA
Any prior UCC Security
Filings have been cleared.
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 47 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
|
FINANCIAL SUMMARY |
DEBT COLLECTIONS
AND PAYMENTS |
||
|
PROFITABILITY INDEBTNESS CASH |
Correct Low Good |
PUBLIC PAYMENTS |
See Details Above Regular |
ADVISED
CREDIT
1,500,000 USD
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)