MIRA
INFORM REPORT
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Report Date : |
19.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
TRAXYS NORTH AMERICA LLC. |
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Registered Office : |
825 3rd Avenue, 34th Floor, New York, NY 10022 |
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Country : |
United States |
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Date of Incorporation : |
10.02.1987 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Metals Service Center |
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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
GEOPOLITICS
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POLITICAL DATA |
ECONOMIC DATA |
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FORM OF GOVERNMENT ECONOMIC RISK |
Federal
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CURRENCY BRANCH SITUATION |
USD Satisfying |
IDENTIFICATION
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Company Name: |
TRAXYS NORTH AMERICA LLC. |
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Address: |
825 3rd Avenue,
34th Floor, New York, NY
10022, USA |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (212) 918-8000 + 1 (212)
918-8045 2139690 Delaware Mark S Kristoff, Member |
Date founded: |
10/02/1987
Limited Liability Company N.A. N.A. 300
employees |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Metals service center. |
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BANKS
Lasalle Bank National
BUSINESS
Business & Operations:
Traxys is the product of the 2003 merger of two well-known forces in the
metals marketing industry: Sogem and considar.
Sogem, previously owned by umicore, dates back to 1919. The geographical
emphasis of sogem was primarily Europe and Asia.
Considar, previously owned by arcelor, specialized in serving the steel
industry with the sourcing of ferro-alloys and other specialty metals,
concentrating primarily in the North American market.
In 2006, arcelor and umicore, sold a majority stake in the company in a
management buyout. In addition to employees, shareholders include pegasus
capital advisors and kelso & Co., two pre-eminent private equity firms.
Subsequent to the acquisition, the names of sogem and considar were
formally replaced with that of traxys.
Industry Overview:
In the US, about 10,000 companies distribute steel and other metals,
with combined annual revenue of $110 billion. Large companies include Ryerson,
Thyssen, Metals USA, and Reliance Steel & Aluminum. The industry is
fragmented: the 50 largest companies only hold about 50 percent of the market.
A typical large distributor has annual sales of $50 million and around 35
employees.
The health of the manufacturing and construction industries drives
demand for steel. A distributor’s sales volume determines profitability because
many costs are fixed. Large distributors benefit from economies of scale in
purchasing, processing, and distribution. Small companies can compete by
specializing in particular products or offering special processing services.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The directors of the
company are:
Mark S Kristoff, President,
Harry Weyher, Chief
Financial Officer,
Peter Hochschild, Chief
Executive Officer.
The parent company is Traxys SA (Strassen, Luxembourg). FINANCIALS – COMMERCIAL TRENDS AND FORECAST
As a private company, Traxys North America Llc. does
not publish any financials.
However our source
provide us with the following information :
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Fiscal Year USD |
12/31/2007 |
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Turnover
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92,700,000 |
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LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims Reported
0 NSF Cheques Reported
2 UCC Filings in
2007 by Lasalle Bank National securing Inventory & Membership
Interest. Amount: NA
1 UCC Filing in 2006 by Fortis Bank securing
Inventory. Amount: NA
All previous UCC Filings have been cleared
RATING
Local credit bureau gave a correct credit rate.
The Company is in “good standing”.
This means that all local and federal taxes were paid on due date.
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The cash flow is correct.
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Payments are made on a regular basis.
Our final opinion
This is a medium Company working on the global market.
The company is well established with very satisfying sales.
A credit line may be considered.
A business connection may e conducted.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS
AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Correct Controlled Correct |
PUBLIC PAYMENTS |
See above Regular |
ADVISED
CREDIT
2,000,000 USD
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.68 |
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UK Pound |
1 |
Rs.84.37 |
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Euro |
1 |
Rs.65.70 |
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%)