MIRA INFORM REPORT

Report Date :

20.04.2011

IDENTIFICATION DETAILS

Name :	THE DAVID J JOSEPH COMPANY (DJJ)

Registered Office :	Corporation Trust Center 1209 Orange Street Wilmington New Castle De 19801

Country :	United States

Date of Incorporation :	27.05.1937

Legal Form :	Corporation for Profit

Line of Business :	Ferrous Metal Scrap

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 50,000

Status :	Satisfactory

Payment Behaviour :	Regular

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

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

United States

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

GEOPOLITICS - UNITED STATES

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal

Economic Risk: Nil

Currency: USD

Branch Situation: Stable

IDENTIFICATION

Ordered as:	The David J Joseph Company
Address in the order:	300 Pike Street, Cincinnati Ohio 45202
Legal Name:	s

Legal Address	CORPORATION TRUST CENTER 1209 ORANGE STREET WILMINGTON NEW CASTLE DE 19801 (registered agent)
Operative Address	300 Pike Street, Cincinnati Ohio 45202
Telephone:	+1 (513) 419-6200	ID :	0358901
Fax:	+1 (513) 419-6222	Legal Form:	Corporation for Profit
Email:	info@djj.com	Registered in:	Delaware
Website:	www.djj.com	Date Created:	1885
Manager:	Keith Grass, CEO	Date Incorporated:	May 27th, 1937
Staff:	6	Stock:	NA
		Value:	NA
Activity:	Ferrous Metal Scrap.

BANKS

Name of the Bank	US Bancorp
Name of the Bank	WACHOVIA BANK

BUSINESS

HISTORY
	This company was created in 1885
PRINCIPAL ACTIVITY
	The Company engages in trading and processing ferrous and nonferrous scrap, as well as ferro-alloys, pig iron, and HBI/DRI.
Products/Services description:
	The company offers aluminum scrap, primary and secondary aluminum alloys, RSI toll conversion, heavy media, drosses, industrial scrap, class scrap, and deox conversion. It also provides procurement services for scrap consumers; mill services, such as blending, inspection and loading, and railcar switching; and railcar scrap and railcar parts reclamation. In addition, The Company offers industrial services, such as processing, arranging transportation, and marketing scrap generated by industrial companies; railcar lease, purchase, sale, and finance; and automobile recycling service.
Sales are:
	Wholesale
Clients:
	Various industries
Operations area:
	National, Local
The company imports from Worldwide
The company export to Canada, Mexico
Comments on staff:
	The company has 6 employees at its headquarter. However it has 2,013 employees at group level.
PAYMENTS
	regular
LOCATION
Headquarters
	The company is headquartered at 300 Pike Street, Cincinnati Ohio 45202.
Comments on location:
	This company is incorporated in Delaware for tax purposes. However it is headquartered in Ohio.
Branches:
	The company has numerous branches around the country, including: -St. Joseph 750 South 4th St. St. Joseph, MO 64501 -Fort Scott 854 S. Hwy. 69 Fort Scott, KS 66701 -Omaha Trading Office 1014 Douglas Street - 2nd Floor Omaha, NE Among others.

Shareholders - Manager - Related Companies

Shareholders Parent Company(ies):
	The company is wholly own subsidiary of Nucor Corporation, a public company that operates at the stock exchange NYSE under ticker symbol "NUE". Nucor Corporation 1915 Rexford Road Charlotte, NC 28211 Phone: 704-366-7000
Management:
	Keith Grass, CEO James Goetz, CFO ROBERT EVISTON, GENERAL MANAGER ANN DEWERT, DIRECTOR GARY MUZZILLO, SENIOR VICE PRESIDENT

Financials - COMMERCIAL TRENDS AND FORECAST

As a private company the subject does not publish any financial statements.

We have contacted XXX who refused to provide us any financial data on grounds of confidentiality/without knowing the name of the inquiring party.

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.

Currency	DATE
USD	2010(Consolidated from mother company)
Turnover	15,844,627,000
Operating Income	452,290,000
Net Income	134,092,000
Current Assets	5,861,175,000
Fixed Assets	4,427,651,000
Net worth	7,120,070,000

Currency	DATE
USD	2008
Turnover	912 000
Operating Income	21 000
Net Income	10 000
Net worth	75 000
Liabilities	10 000
The cash flow is	20

Legal Fillings

There are 221 UCC files listed with the Secretary of State of Ohio.

There are no legal filings listed with the District Court.

THE COMPANY IS NOT LISTED ON THE OFAC LIST.*

For information:

* The Specially Designated Nationals (SDN) List is a publication of OFAC which lists individuals and organizations with whom United States citizens and permanent residents are prohibited from doing business.

** 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 United States of America.

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

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.

Final Opinion

This is a large sized company with 2,013 employees at group level which makes it a large sized company.

There were no legal filings found against the company or its legal representatives.

The company is wholly own subsidiary of Nucor Corporation, a public company that trades at the stock exchange NYSE.

There was no financial information found for the year 2010. The person we contacted refused to provide us any financial figure without knowing the name of the inquiring party.

We gathered the financial information from its mother company, which gave a correct profitability for the year 2010, indebtedness is controlled and cash flow is normal.

To fully secure the credit line granted, we suggest calling the parent company as a guarantor.

A credit line may be considered for USD 50,000

SUMMARY

FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	CORRECT	Public Records	NO
Indebtedness	CONTROLLED	Payments	REGULAR
Cash	NORMAL

APPENDIX

Person Interviewed
	Male representative
Comments
	He refused to provide us any financial information without knowing the name of the inquiring party.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.68
UK Pound	1	Rs.72.56
Euro	1	Rs.63.53

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
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
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
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
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
<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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.