MIRA INFORM REPORT
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Report Date : |
30.04.2011 |
IDENTIFICATION DETAILS
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Name : |
CDM SYSTEMS, INC. |
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Registered Office : |
430 Main Str, Elk River, MN, 55330 |
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Country : |
United States |
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Date of Incorporation : |
30.11.1999 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Conveying and bulk handling solutions |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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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United States |
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: |
CDM Systems Inc |
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Address in the order: |
31858 126th Street NW Princeton MN 55371 |
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Comments on data supplied: |
Please note that the address provided is that of the company
"Swantec, Inc". We contacted Karen, from "Swantec, Inc.", who confirmed us
that "CDM Systems Inc" is their customer. |
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Legal Name: |
CDM Systems, Inc. |
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Legal Address |
430 Main Str, Elk River, MN, 55330 |
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Telephone: |
(763) 428-9700 |
ID : |
10X-564 |
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Fax: |
(763) 428-9701 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
Minnesota |
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Website: |
Date Created: |
1960`s |
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Manager: |
Steve Parker, President |
Date Incorporated: |
November 30th, 1999 |
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Staff: |
3 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Conveying and bulk handling solutions |
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BANKS
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Name of the Bank |
THE BANK OF ELK RIVER |
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Location |
630 MAIN ST NW ELK RIVER
MN 55330- 1503 |
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Name of the Bank |
ASSOCIATED BANK MINNESOTA, N.A. |
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Location |
1801 RIVERSIDE AVE MINNEAPOLIS
MN 55454- 1034 |
BUSINESS
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HISTORY |
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The company was created in the 1960`s. |
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PRINCIPAL ACTIVITY |
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The company is engaged in conveying and bulk handling solutions. |
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Products/Services description: |
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The company provides Bulk Conveying Systems, Components, and
Engineering/Design Services, including Custom Conveyor Design, Multiple
Receiving Conveyors, among others. |
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Clients: |
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Honolulu Power Weyerhauser Co U.S. Mining Corp. Among others |
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Suppliers: |
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Swantec Inc. |
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Operations area: |
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National, International |
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The subject employs 3 employee(s) |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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The company is headquartered at: 430 Main Street Elk River, MN 55330 - USA |
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Comments on location: |
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Main offices, and manufacturing and warehousing facilities. |
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Branches: |
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The company has sales offices in New Orleans. |
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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The company is privately held. The Parker family appears to be the major shareholder. However, this information
was not verified by the company. |
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Management: |
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Steve Parker, President Andrew Parker, Manager |
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 Chris, Manager, who refused to provide us any
financial data without knowing the name of the inquiring party. |
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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 |
240,000 |
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The cash flow is |
normal |
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Legal Fillings |
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There
are 4 UCC** files listed with the Secretary of State of Minnesota. There are no legal filings listed with the
District Court. The last annual report was filed in 2011. 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
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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 sized American company. It
employs 3 people and has been in business for over 40 years. We strongly suggest working with
GUARANTEES. |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Person Interviewed |
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Ms. Chris |
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Position |
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Manager |
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Comments |
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The person contacted refused to provide any kind of 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.44.38 |
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UK Pound |
1 |
Rs.73.88 |
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Euro |
1 |
Rs.65.83 |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.