MIRA
INFORM REPORT
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Report Date : |
30.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
OHIO MAGNETICS, INC. |
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Registered Office : |
5400
Dunham Road, Cleveland, OH 44137 |
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Country : |
United States |
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Date of Incorporation : |
24.02.1969 |
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Legal Form : |
Corporation
– Profit |
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Line of Business : |
Manufacture Magnets, Motors, Generators, Conveyors, and
related products |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name & address
Company name : OHIO MAGNETICS, INC.
Address : 5400 Dunham Road, Cleveland, OH 44137 - USA
Telephone : 216-662-8484
Fax : 216-662-2911
Website www.ohiomagnetics.com
Summary
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Corporate
ID# : State : Judicial
form : Date
founded : Stock : Value: Name of manager: |
380960 Ohio Corporation
– Profit 02-24-1969 2,100,000
shares No par
value Pt : Michael T.
CLANCY |
ACTIVITIES & OPERATIONS
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Business Staff: |
Manufacture magnets, motors, generators, conveyors, and related products. Ohio Magnetics Inc. is a supplier of materials handling, magnetic separation and metal detection solutions to ensure highly productive operations by processing industries, mining operations and end users worldwide. The Company is doing business as OHIO ELECTRIC MOTORS and OHIO GENERATORS. 70 |
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Operations & branches: |
At above address, we find a manufacture, warehouse and office, on 140,000 sq. foot, on lease. |
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SHAREHOLDERS & MANAGERS
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Shareholders : |
The parent company is: HBD INDUSTRIES INC. 5200 Upper Metro Pl # 110 Dublin, OH 43017 Ph: 614-526-7000 Fx: 614-526-7020 HBD Industries owns and operates a group of companies that are engaged in industrial products manufacturing. The company buys and integrates companies and product lines that are complementary to its markets, products, customers and businesses. Its companies include HBD/Thermoid, Carolina Rubber Rolls, Peerless Electric, Ohio Electric Motors, Powertec Industrial Motors, Winsmith, Perfection Gear, Madison Manufacturing, Ohio Magnetics, Stearns Magnetics, California Drop Forge and Hydro Carbide. The companies provide industrial rubber and fluid transfer products, roll covering service, AC, DC and BLDC motors, speed reducers and gearboxes, ventilation and air-moving equipment, magnetic materials handling solutions, closed die forgings, and tungsten carbide products and rotary tools. The Chairman, President and CEO of Ohio Magnetics Inc. is Randy L. GREELY. |
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Management : |
Michael
T. CLANCY is the President. John
WOHLGEMUPH is the Manager. Tom
RAWSON is the CFO. |
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Subsidiaries & Partnership : |
None |
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FINANCIALS
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In United
States, privately held corporations are not required to publish any
financials. On a
direct call, nobody accepted to answer our questions. We sent a
fax but no answer was received. However, an
estimate sales for year 2007 is in the range of USD 5,000,000= Consolidated
sales for the parent company is in the range of USD 70,000,000= |
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Banks
Bank of
America
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LEGAL FILINGS
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Legal filings
& complaints : |
As of today
date, there is no legal filings pending with the District
Courts. |
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Secured debts
summary (UCC) : |
None |
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MARKET ANALYSIS & FORECAST
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In the
United States, during the year 2007: - 12% of the
corporations in same branch were developing the business on a low risk of
late payment, - 84%, on
a medium risk, and - 4% on a high risk of late payment. - 28% of
them saw sales stable versus last 3 years - 72%
declining A high
percentage of late payment may indicate that companies in this industry are
experiencing cash flow problems, that suppliers generally accept late payment
as part of doing business, or that on-time payment is not customary in this
industry. Companies
entering such markets should not expect to be paid on time. The
market appears to be slow. |
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COMPANY CREDIT HISTORY
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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 5 to 10 days beyond terms. The
Company maintains a regular business. The banks
and financial institutions confirmed a regular account. The risk
is low. Our
opinion: A
business connection may be conducted. |
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CREDIT REQUIRED |
MAXIMUM CREDIT |
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Maximum |
USD 100,000= |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.79 |
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UK Pound |
1 |
Rs.80.05 |
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Euro |
1 |
Rs.64.56 |
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%)