MIRA
INFORM REPORT
|
Report Date : |
08.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
KALSEC, INC. |
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Registered Office : |
3713 West Main Street, Kalamazoo, MI 49007 |
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Country : |
United States |
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Date of Incorporation : |
30.03.1975 |
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Com. Reg. No.: |
131487 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Provides Spice and Herb Flavors |
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 500,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Credit Report
Company Name: KALSEC, INC.
Company acronym:
--
Contact Information
|
Address |
3713 West Main Street Kalamazoo, MI 49007 USA |
|
Telephone |
269-349-9711 |
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Fax |
269-382-3060 |
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Website |
www.kalsec.com |
Registration Data
|
Date of Registration |
03-30-1975 |
|
Registration number |
131487 |
|
Legal address |
3713 West Main Street Kalamazoo, MI 49007 USA |
|
Legal Form |
Corporation – Profit |
|
Share Capital |
20,000 shares common, no par value |
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Other Registration Data |
- |
Shareholders
with Shares
|
Shareholder Names |
Share% |
|
Todd family |
100% |
Board/Executive
|
Name |
Paul H. TODD Jr. |
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Position within the company |
Chairman |
|
Name |
George TODD |
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Position within the company |
CEO |
Changes in
Registration Data
None recorded
Activities
(realistic and officials)
Kalsec is a family-owned and operated business that provides spice and herb
flavorings to its customers. It produces spice, herb, hop and vegetable
extracts for use in food, beverage and pharmaceutical applications. The company
offers concentrated natural extracts of onion and garlic for use in industrial
applications as an economical replacement for dehydrated garlic and onion
powders. In addition, it has a Web site that provides literature request form
and product-related information to its customers. Its division, Southwest
Spice, specializes in the cultivation, harvest, dehydration and extraction of
paprika and carrot, as well as specialty herbs and spices.
Staff
|
Number of staff employed |
250 |
Export/Import
(Countries, goods and total values for the period)
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Imports From |
Europe, Far East |
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Exports To |
- |
Facilities
|
Owned Rented |
Manufacture, warehouse and office |
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Premises Size |
50,000 sq. feet |
Subsidiaries
and Participation
|
Parent Company |
- |
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Subsidiaries |
Kalsec UK Ltd. Kalsec Benelux |
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Affiliates |
- |
Branches
|
Address |
Kalsec Southwest®, Kalsec®'s farming and dehydration operation, is
situated in Denver City, TX. |
Bankers
|
Bank |
Fifth Third Bank |
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Branch |
LaSalle Bank |
Suppliers,
Partners
|
Suppliers |
Not known |
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Partners |
Not known |
Litigation,
Remarks on Payment
|
Litigation |
None Recorded |
|
Remarks on Payment |
No Complaints |
Financial
Information
|
Source |
LaSalle Bank |
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Figures are |
Declared |
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Currency |
USD |
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Months |
Sales Figures |
Sales |
|
12 |
31/12/2007 |
22,700,000 |
Reporter Comments
|
Comments |
No information could be obtained from the
Company. |
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Local Reputation |
The company being investigated is believed by local reporters to be a Low Trade Risk and to be fair. According to our credit analysts, during the last 6 months, 93% of
trade experience indicates a regular payment. Payments of imports are currently made with an average of 2 to 5 days
beyond terms. |
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MAX CREDIT |
USD 500,000= |
|
CREDIT REQUIRED |
MAXIMUM CREDIT |
|
Maximum |
USD 500,000= |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.76 |
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UK Pound |
1 |
Rs.74.87 |
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Euro |
1 |
Rs.60.81 |
RATING
EXPLANATIONS
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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 |
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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%)