MIRA
INFORM REPORT
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Report Date : |
05.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
VULCAN THREATED PRODUCTS INC. |
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Registered Office : |
10
Crosscreek Trail, Pelham, AL 35124 |
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Country : |
United States |
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Date of Incorporation : |
22.12.1988 |
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Legal Form : |
Corporation
– Profit |
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Line of Business : |
Manufactures and Supplies Threaded 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 600,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company name
VULCAN THREATED PRODUCTS INC.
Address
10
Crosscreek Trail, Pelham, AL 35124 – USA
Telephone : 205-620-5100
Fax : 205-620-5150
Website : www.vulc.com
summary
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Corporate
ID# : State : Judicial
form : Date
founded : Stock Value: Name of manager: |
D/C
127-856 Alabama Corporation
– Profit 12-22-1988 USD 1,000 William
UPTON |
ACTIVITIES
& OPERATIONS
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Business Staff: |
Vulcan Threaded Products manufactures and supplies threaded products such as anchor bolts, U-bolts, turned and bent eye bolts and specialty products such as double-end, single-end and fully threaded studs or rods among other fasteners including coupling nuts, hex nuts and flat washers. Vulcan Threaded Products markets these supplies to industrial consumers throughout North America via their nationwide warehouses and representatives. 200+ |
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Operations & branches: |
At above
address, we find a warehouse and office, on 325,000 sq. feet,
owned. |
SHAREHOLDERS & MANAGERS
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Shareholders : |
This is a privately held and managed compant. |
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Management : |
William
UPTON is the President and CEO. Tim
DUNSTON is the CFO. As far as
we know, they are not involved in other local business. |
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Subsidiaries & Partnership : |
None |
FINANCIALS
In United
States and Canada, 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,
sales estimate for year 2007 is in excess of USD 20 million.
The
business is said to be profitable.
Banks
First
Commercial Bank
Birmingham,
AL
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) : |
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MARKET
ANALYSIS & FORECAST
In the
United State, during the year 2007:
- 80% of
the corporations in same branch were developing the business on a medium risk of
late payment,
- 20% on a
high risk of late payment.
- 80% of
them saw sales stable versus last 3 years
- 4% declining
- 16%
growing
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 stable.
COMPANY
CREDIT HISTORY
On March 6, 2008, Pelham-based Vulcan Threaded
Products this week filed an unfair trade complaint against China,
saying the Asian country is sending unfairly priced steel threaded rods to the
United States.
The company, which says it is the
largest U.S. maker of the rods used for interior suspensions and supports, says
in its complaint the government should investigate the imports, which have
quadrupled since 2005.
"We have
seen an extraordinary increase in the volume from China at prices which are
often less than the cost of our raw materials," said Vulcan Threaded
President Bill Upton.
If
Vulcan Threaded prevails, the Commerce Department will impose an import fee to
equalize the price of the Chinese goods.
Many U.S. industries say Chinese companies sell at artificially low prices
because of government subsidies, lax environmental controls and convict or
military labor forces.
According to our credit analysts, during the last 6 months, 88% 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 bank
and financial institutions confirmed a correct credit history.
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 600,000= |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.37 |
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UK Pound |
1 |
Rs.78.09 |
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Euro |
1 |
Rs.63.41 |
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%)