MIRA
INFORM REPORT
|
Report Date : |
04.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
J.L. FRENCH AUTOMOTIVE CASTINGS |
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Registered Office : |
The Corporation Trust Company 1209 Orange Street, Wilmington, DE 19801 |
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Country : |
United States |
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Date of Incorporation : |
10.11.1997 |
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Com. Reg. No.: |
Delaware 2819248 |
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Legal Form : |
Corporation - Profit |
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Line of Business : |
Global Supplier of Aluminum Die-Castings Specializing in Powertrain and Automotive Components |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company
Name
J.L. FRENCH AUTOMOTIVE CASTINGS
Company acronym:
--
Contact Information
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Address |
39555 Orchard Hill Place Suite 350 USA |
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Telephone |
248-596-1364 |
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Fax |
248-596-1365 |
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Website |
www.jlfrench.com |
Registration Data
|
Date of Registration |
November 10, 1997 |
|
Registration number |
Delaware 2819248 |
|
Legal address |
The Corporation Trust Company 1209 Orange Street, Wilmington, DE 19801 USA |
|
Legal Form |
Corporation - Profit |
Shareholders
with Shares
|
Shareholder Names |
Share% |
|
N/A |
n/a |
Board/Executive
|
Name |
Jack F. FALCON |
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Position within the company |
President and CEO |
|
Name |
Steven A. BOYACK |
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Position within the company |
Vice President –
Finance |
Changes in Registration
Data
None recorded
Activities
(realistic and officials)
J.L. French is a global supplier of aluminum die-castings specializing
in powertrain and automotive components. The company has fourteen engineering/customer
service offices to globally support their customers near their regional
engineering and manufacturing locations. J.L. French is an industry leader in
technical resources. The company provides die-casting solutions including
product design, simulation, testing, rapid prototyping and production
facilities. It offers die cast machines ranging from 100 tons to 3500 tons,
producing components ranging in weight from a few grams to 22 Kg.
Staff
|
Number of staff employed |
1,400 |
Export/Import
(Countries, goods and total values for the period)
|
Imports From |
Europe, Far East |
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Exports To |
None |
Facilities
|
Rented |
Office |
|
Premises Size |
- |
Subsidiaries
and Participation
|
Parent Company |
- |
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Subsidiaries |
French Holdings, Inc. J.L. French Automotive LLC J.L. French International, Ltd. Nelson Metal Products Corporation |
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Affiliates |
- |
Branches
|
Address |
3101 S. Taylor Drive Ph: 920-458-7724 Fx: 920-458-0140 20 Prestwick Drive 4243 Gateway Drive |
Bankers
|
Bank |
Bank of America |
Suppliers,
Partners
|
Suppliers |
Not known |
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Partners |
Not known |
Litigation,
Remarks on Payment
|
Litigation |
The Company went in bankruptcy Chapter 11 on February 10, 2006 - Case #
06-10119-MFW (Delaware) A Plan was confirmed on June 21, 2006 |
|
Remarks on Payment |
Slow |
Financial
Information
|
Source |
Bank of America |
|
Figures are |
Estimate CONSOLIDATE |
|
Currency |
USD |
|
Months |
Sales Figures |
Sales |
|
12 |
31/12/2007 |
113,000,000 |
Reporter Comments
|
Comments |
On a direct call, nobody was available to answer
our questions. We sent a fax but no answer was received. |
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Local Reputation |
The company being investigated is believed by local reporters to be a Medium Trade Risk and to be
fair. According to our credit analysts, during the last 6 months, 84% of
trade experience indicates a regular payment. Payments of imports are currently made with an average of 15 to
20 days beyond terms. The market is slow. |
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MAX CREDIT |
USD 1,000,000= |
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CREDIT REQUIRED |
MAXIMUM CREDIT |
|
Maximum |
USD 1,000,000= |
NEWS
|
Date |
01-18-2008 |
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Source |
Company news |
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Article |
JL French Automotive Castings, Inc announced that it has been awarded
production of a new V6 aluminum engine block by Hyundai Motor Company. The block
will be manufactured at the JL French Gateway drive plant in Sheboygan. It
will be forwarded to Hyundai Motor Manufacturing Alabama, one of the most
advanced assembly plants in North America. Whereas there is extensive
development work yet to be done for the new engine, actual production of the
block will ramp up in late 2009, with full year production slated for 2010. |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.18 |
|
UK Pound |
1 |
Rs.75.05 |
|
Euro |
1 |
Rs.60.89 |
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 |
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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 |
|
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%)