MIRA
INFORM REPORT
|
Report Date : |
08.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
PATTERSON PUMP COMPANY |
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Registered Office : |
305 Bowman Street, Mansfield, OH 44903 |
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Country : |
United States |
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Date of Incorporation : |
26.09.1988 |
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Com. Reg. No.: |
Ohio 733347 |
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Legal Form : |
Corporation - Profit |
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Line of Business : |
Manufacturer of Pumps |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
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 1,500,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company
Name
PATTERSON PUMP COMPANY
Company acronym:
--
Contact Information
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Address |
2129 Ayersville Road Toccoa, GA 30577 USA |
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Telephone |
706-886-2101 |
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Fax |
706-886-0023 |
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Website |
www.pattersonpumps.com |
Registration Data
|
Date of Registration |
09-26-1988 |
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Registration number |
Ohio 733347 |
|
Legal address |
305 Bowman Street Mansfield, OH 44903 USA |
|
Legal Form |
Corporation - Profit |
|
Share Capital |
750 shares common, no par value |
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Other Registration Data |
- |
Shareholders
with Shares
|
Shareholder Names |
Share% |
|
Gorman-Rupp Co. 305 Bowman Street Mansfield, OH 44903 |
100 |
Board/Executive
|
Name |
Albert F. HUBER |
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Position within the company |
President & CEO |
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Name |
Susan HANBIN |
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Position within the company |
CFO |
Changes in
Registration Data
None recorded
Activities (realistic
and officials)
Patterson Pump Company is recognized world wide as a manufacturer of
pumps for the municipal, industrial, commercial, fire, water, wastewater,
off-shore, HVAC (heating, ventilation and air conditioning), plumbing, power,
flood control, building-trade, utility and packaged system markets. The company
s products include a wide range of water, wastewater, fire and HVAC pumps.
Patterson Pump is a subsidiary of the Gorman-Rupp Company, a
manufacturer of pumps and pumping systems for the municipal, water, wastewater,
sewage, industrial, construction, petroleum, fire and original equipment
manufacturer markets. Gorman-Rupp also manufactures a complete line of packaged
lift stations and booster stations that include pumps, motors, controls,
piping, accessories and enclosures.
Staff
|
Number of staff employed |
396 |
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 |
Manufacture, Warehouse and office |
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Premises Size |
225,355 sq. feet |
Subsidiaries
and Participation
|
Parent Company |
Gorman-Rupp Co. 305 Bowman Street Mansfield, OH 44903 Quoted with the AMEX under symbol GRC Sales 2007: USD 305,600,000= Net profit: USD 22,900,000= |
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Subsidiaries |
Patterson Pump Ireland Ltd Unit 14-Mullingar Business Park, Mullingar, County Westmeath, Ireland |
Branches
|
Address |
FLO-PAK DIVISION 1785 Enterprise Drive Patterson Pump Far East
Operation 199/183 Mu 9, T. Sanpeesuea Lanna View,
Chiangmai-Praow Rd Sunphee Muang-Muang, Chiangmai 50300 Thailand Patterson Pump Middle East Operation P.O. Box 72083 Helioupolis 16310 Athens,
Greece Patterson Pump European Operation Century House 3 Clarks Lane Newark-on-Trent Nottingham NG24 2EF United
Kingdom |
Bankers
|
Bank |
Bank of America |
Suppliers,
Partners
|
Suppliers |
Not known |
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Partners |
Not known |
Litigation,
Remarks on Payment
|
Litigation |
None Recorded |
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Remarks on Payment |
No Complaints |
Financial
Information
|
Source |
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 |
USD 70,000,000 |
Reporter Comments
|
Comments |
On a direct call, it
was answered that financials are consolidated into the parent 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 1,500,000= |
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CREDIT REQUIRED |
MAXIMUM CREDIT |
|
Maximum |
USD 1,500,000= |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.76 |
|
UK Pound |
1 |
Rs.74.87 |
|
Euro |
1 |
Rs.60.81 |
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%)