MIRA
INFORM REPORT
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Report Date : |
23.09.2008 |
IDENTIFICATION
DETAILS
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Correct Name : |
DRESSER-RAND GROUP INC. |
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Registered Office : |
10205 Westheimer Rd., West8 Tower, Ste. 1000 Houston, TX 77042 |
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Country : |
United States |
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Date of Incorporation : |
01.10. 2004 |
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Legal Form : |
Public Company |
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Line of Business : |
Design, Manufacture, and Marketing of Rotating Equipment Solutions to the
Oil, Gas, Petrochemical, and Process Industries Worldwide |
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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Maximum Credit Limit : |
USD 10,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company name
DRESSER-RAND GROUP INC.
Address
10205 Westheimer Rd., West8 Tower, Ste. 1000
Houston, TX 77042 – USA
Telephone :713-354-6100
Fax : 713-354-6110
Website : www.dresser-rand.com
summary
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Corporate
ID# : State : Judicial
form : Date
founded : Stock Value: Name of manager: |
3861720 Delaware Public Company October 1st,
2004 The number of shares of common stock, $.01 par value, outstanding
as of July 28, 2008, was 83,726,536. Vincent R. VOLPE Jr. |
ACTIVITIES
& OPERATIONS
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Business Staff: |
Dresser-Rand Group, Inc. engages in the design, manufacture, and
marketing of rotating equipment solutions to the oil, gas, petrochemical, and
process industries worldwide. It offers various turbo
products, such as compressors, gas and power turbines, hot gas expanders, and control systems used in
various applications, including gas
lift and injection, gas gathering, storage and transmission, synthetic fuels, ethylene, fertilizer,
refineries, and chemical production;
reciprocating compressors used in lower volume/higher compression ratio applications; and steam
turbines used primarily to drive
pumps, fans, blowers, and compressors for various industries, including oil and gas, refining,
petrochemical, chemical, pulp and
paper, electrical power production and utilities, sugar, and palm
oil. The company offers its products under various brand names, including
Dresser-Rand, Dresser-Clark, Ingersoll Rand, Worthington, Turbodyne, Terry,
Coppus, Murray, and Nadrowski. It also provides a range of aftermarket parts and services. The company sells its services
and products through its independent sales representatives, direct
sales/service personnel, a network of independent representatives, and
service and support centers. 6,000 |
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Operations & branches: |
At above address, we find
the corporate office, on lease. The Company maintains
branches located: 1108 Washington Street Burlington, Iowa 52601 1202 West Sam Houston Pkwy. N. Paul Clark Drive 100 Chemung St
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SHAREHOLDERS & MANAGERS
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Shareholders : |
The Company is quoted with the NYSE under symbol DRC. 99% of the common stock is held by institutional and pension fund
owners including:
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Management : |
William E. MACAULAY is
the Chairman. Vincent R. VOLPE Jr. is
the President and CEO. Mark E. BALDWIN is
Executive Vice President and CFO. |
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Subsidiaries & Partnership : |
There are numerous subsidiaries in the U.S. and worldwide, including
France, Germany, England, Norway, Indian, and China. |
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FINANCIALS
Financial reports on
attachment:
- Annual report 2007
- 1st quarter
2008
- 2nd quarter
2008
Sales are growing.
Banks
CitiBank
JP Morgan
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) : |
There are numerous UCC
files. |
MARKET
ANALYSIS & FORECAST
In the United States,
during the year 2007:
- 8% of the corporations in same branch were developing the
business on a low risk of late payment,
- 60%, on a medium risk,
and
- 32% on a high risk of
late payment.
- 8% of them saw sales stable versus last 3 years
- 92% 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.
COMPANY
CREDIT HISTORY
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 10 days beyond
terms.
The Company maintains a
regular business.
The banks 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 10,000,000+ |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.72 |
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UK Pound |
1 |
Rs.84.81 |
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Euro |
1 |
Rs.67.60 |
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%)