MIRA INFORM REPORT
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Report Date : |
13.04.2011 |
IDENTIFICATION DETAILS
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Name : |
PDC MACHINES INC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
28.11.1983 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Designer and Manufacturer of equipment for the chemical, petrochemical,
pharmaceutical, and specialty gas industries |
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 : |
50,000 USD. |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GeOPOLITICS - UNITED STATES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
IDENTIFICATION
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Ordered as: |
PDC Machines Inc |
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Address in the order: |
1875 Stout Drive Warminster P A 18975 |
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Legal Name: |
PDC MACHINES INC |
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Legal Address |
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Operative Address |
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Mailing Address |
P.O. |
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Telephone: |
+1 (215) 443-94 42 |
Document Number : |
790823 |
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Fax: |
+1 (215) 443-85 30 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
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Website: |
Date Created: |
1983 |
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Manager: |
SY M AFZAL, President |
Date Incorporated: |
November 28th 1983 |
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Staff: |
25 employees |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Designer and Manufacturer of equipment for the chemical,
petrochemical, pharmaceutical, and specialty gas industries. |
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BANKS
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Name of the Bank |
BANK OF |
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Name of the Bank |
WACHOVIA BANK |
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Location |
PO |
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Name of the Bank |
COMMERCE BANK |
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Location |
2005 MARKET ST PHILADELPHIA PA
19103 |
BUSINESS
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HISTORY |
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PDC MACHINES INC is a private company created in 1983 and based in |
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PRINCIPAL ACTIVITY |
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PDC MACHINES INC is dedicated to the design, engineering, manufacture,
installation, commissioning, service, and support of equipment for the
chemical, petrochemical, pharmaceutical, and specialty gas industries. |
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Products/Services description: |
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The company offers the following products and services: - Skid-Mounted Bench Scale to Pilot Plant Process Systems: PDC
Machines builds complete process systems ranging from bench scale to pilot
plant, including reactors, metering pumps, valves, heat exchangers, fluid
mass flow controllers, and instrumentation. - Stirred Reactors (Metal): PDC constructs reactors from most
machinable alloys. Capacities range from 50cc to 500 gallons (1,893 liters).
Design pressures range from full vacuum to 150,000 psig (10,300 bar). Temperatures range from -400 to 2500 ° F
(-200 to 1,400 ° C). - Stirred Reactors (Glass): available in capacities from 0.5 to 5.0
liters. Design pressures are 29 psi (2 bar) for reactors of 3-liter or higher
capacity, or 174 psi (12 bar) for 2-liter or smaller capacity. - Magnetic Stirrers: Static torque ranges from 6 in. lbs to 2000 in.
lbs (230 Nm) with agitator speeds up to 5000 rpm. Impeller options include
flat and pitched blades, helical ribbons, anchor, and specials. - Syringe Pumps: Flow rates
from 1 micro liter/hour to 200 ml/minute and discharge pressures up to 60,000
psi (4,100 bar). Flow is continuous, pulseless, and accurate up to
0.05%. Pumps are also available for
hazardous area classification. - Diaphragm Compressors: for compressing rare, ordinary, toxic,
flammable, pure, oxidizing, radioactive and explosive gases without incurring
any contamination of the process media that results from traditional
compressors. They build compressors to handle Argon, Fluorine, Oxygen, Hydrogen,
Nitrogen, Helium, TFE, and Ethylene. Design pressures range from atmospheric
to 60,000 psi (4,100 bar) with a wide range of flow rates. - Design and Engineering Services |
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Sales are: |
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Wholesale |
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Clients: |
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Various Industries |
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Operations area: |
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National, Local |
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The company imports from Europe and |
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The company does not export |
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Trade References: |
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The person contacted refused to provide the names of their suppliers
on grounds of confidentiality. |
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The subject employs 25 employee(s) |
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PAYMENTS |
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made on a 50 days basis - monitored over the last 12 months |
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LOCATION |
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Headquarters |
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The company is headquartered in |
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Branches: |
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There were no branches found for this company. |
Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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This company is privately held. The Afzal family is the main
shareholder. |
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Management: |
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Sy M. Afzal, President SYED O AFZAL, Vice President David Heim, Chief Engineer Steve Cohen, Director Of Marketing MATEEN AFZAL, Treasurer |
Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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We have contacted the general accountant who refused to provide
us any financial data on grounds of confidentiality. |
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However our financial sources could provide us with the following
data. Those figures are estimates provided by confidential banking and
financial institutions working with the company. |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
3,100,000 |
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Currency |
DATE |
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USD |
2008 |
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Turnover |
3,300,000 |
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Currency |
DATE |
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USD |
2007 |
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Turnover |
4,800,000 |
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Operating Income |
300,000 |
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Net Income |
190,000 |
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Net worth |
400,000 |
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Bank liabilities |
200,000 |
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The cash flow is |
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Legal Fillings |
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There are 13 UCC files listed with the Secretary
of State of Pennsylvania including: Filing Number: 2010081305094 Filing Date: 08-13-2010 Filing Jurisdiction: Secured Party: MITEL LEASING INC. Secured Party Address: 1140 Debtor:
PDC MACHINES, INC. Filing Number: 2010081305107 Filing Date: 08-13-2010 Filing Jurisdiction: Secured Party: MITEL LEASING INC. Secured Party Address: 1140 Debtor:
PDC MACHINES, INC. Filing Number: 2009101405036 Filing Date: 10-14-2009 Secured Party: DOOSAN GLOBAL FINANCE Filing Number: 2009052202214 Filing Date: 05-22-2009 Secured Party: DE LAGE LANDEN FINANCIAL
SERVICES, INC. Filing Number: 25961707 Filing Date: 10-17-1996 Secured Party: DAEWOO MACHINERY CORP Filing Number: 20041098136 Filing Date: 10-19-2004 Secured Party: INTER-TEL LEASING INC. Filing Number: 25961706 Filing Date: 10-17-1996 Secured Party: DAEWOO MACHINERY CORP There are no legal filings listed with the
District Court. For information: The Uniform Commercial Code (UCC) is one
of a number of uniform acts that have been promulgated in conjunction with
efforts to harmonize the law of sales and other commercial transactions in
all 50 states within the The UCC deals primarily with transactions
involving personal property (movable property), not real property (immovable
property). It allows a creditor to notify other
creditors about a debtor’s assets used as collateral for a secured
transaction by filing a public notice (financing statement) with a particular
filing office. The Uniform Commercial Code Bureau files
and maintains on financial obligations (including IRS liens) incurred by
individuals (in business as a sole proprietor), business entities and
corporations. |
Rating
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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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Final Opinion |
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This is a small size company with several
years in the business. Looking at the company's financials, for
the last three fiscal years, we can see that the company's turnover is still
decreasing since 2008. However, the profitability is correct, the
debt level is controlled and the length of payment remains regular. At this time, we believe that the company
can bear a maximum credit line of 50,000 USD. We suggest making a follow up report
within 8 or 9 months. |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
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APPENDIX
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Person Interviewed |
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Monica |
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Position |
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Manager Assistant |
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Comments |
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The person refused to provide any information on grounds of
confidentiality. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.22 |
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1 |
Rs.72.26 |
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Euro |
1 |
Rs.63.90 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.