MIRA INFORM REPORT

 

 

Report Date :

12.08.2011

 

IDENTIFICATION DETAILS

 

Name :

WESTLAKE VINYLS COMPANY LP

 

 

Registered Office :

Corporation Trust Center 1209 Orange Street, Wilmington, DE 19801

 

 

Country :

United States

 

 

Date of Incorporation :

02.01.2003

 

 

Legal Form :

Limited Partnership

 

 

Line of Business :

Industrial Organic Chemicals Manufacturers

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 100,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

United States

A1

A1

 

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: Normal

Currency: USD

Branch Situation:Stable

 

 

IDENTIFICATION

 

Comments on data supplied:

Dear Client,

 

The address provided in the order is that of the headquarters of the parent company.

 

However, the subject is headquartered at the address state below.

Legal Name:

Westlake Vinyls Company LP

 

 

Legal Address

Corporation Trust Center 1209 Orange Street, Wilmington, DE 19801, USA (Registred Agent)

Operative Address

4338 Highway 73, Geismar, LA 70734, USA

 

Telephone:

+1 (225) 673-6121

ID :

3610071

Fax:

NA

Legal Form:

Limited Partnership

Email:

NA

Registered in:

Delaware

Website:

NA

Date Created:

2003

Manager:

James Chao, President

Date Incorporated:

January 2nd 2003

Staff:

50

Stock:

NA

 

 

Value:

NA

Activity:

It is categorized under Industrial Organic Chemicals Manufacturers

 

 

BANKS

 

Name of the Bank

BANK OF AMERICA

 

BUSINESS

 

HISTORY

 

The company was created in 1997.

PRINCIPAL ACTIVITY

 

It is categorized under Industrial Organic Chemicals Manufacturers

Products/Services description:

 

Westlake vinyl products are the key ingredients to making some of the world’s most prevalent items, such as bottles, appliance parts, residential siding, credit cards and flexible pipe. The primary product in this segment is Polyvinyl Chloride (PVC) resin, the third most pervasively used plastic in the world. Additionally, Westlake manufactures Vinyl Chloride Monomer and Caustic. Supplies vinyl resin to two Westlake subsidiaries – North American Pipe, which manufactures PVC pipes, and Westech Building Products, which fabricates products for residential construction.

Sales are:

 

Wholesale

Clients:

 

Professionals of the Organic Chemical Industry

Operations area:

 

National

The company imports from China

The subject employs 50 employee(s)

LOCATION

Headquarters

 

The company was incorporated in the Delaware Secretary of State for tax porpuses.

 

However, it is headquartered at 4338 Highway 73, Geismar, LA 70734, USA.

 

Please note that the company has its administrative office in Texas, at the address provided in the order.

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

This company is a wholly owned subsidiary of Westlake Chemical Corp.

 

2801 Post Oak Boulevard

Suite 600

Houston, TX 77056

United States - Map

Phone: 713-960-9111

Fax: 713-963-1590

Website: http://www.westlake.com

Management:

 

James Chao, President

Robert F. Buesinger, Senior Vice President

 

Related Companies:

 

North American Pipe Corporation

Van Buren Pipe Corporation

Westech Building Products, Inc.

Westech Building Products ULC

Westlake Ethylene Pipeline Corporation

Westlake Longview Corporation

Among others



Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted Sally who refused to provide us any financial data on grounds of confidentiality.

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

 

Turnover

3,171,787,000

 

Operating Income

378,364 ,000

 

Net Income

221,393,000

 

Current Assets

1,475,960,000

 

Fixed Assets

1,478,184,000

 

Net worth

1,505,070,000  

 

Bank liabilities

764,482,000

 

The cash flow is

NORMAL

 

 


Comments on the financial data: The financial data is consolidated with those of the parent company "Westlake Chemical Corporation".

Legal Fillings

 There are several UCCs files listed with the Secretary of State of Texas.

 

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

 

The subject is a medium sized US company as it currently has a staff of 50 employees.

 

It was incorporated for business in 1997. Therefore, it has more than 13 years of experience.

 

Westlake Vinyls Company LP is a subsidiary of Westlake Chemical Corporation, a public company located in Houston, TX.

 

It is categorized under Industrial Organic Chemicals Manufacturers, supplying vinyl resin.

 

The income per employee remains pretty fair for the company’s size.

 

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

 

Credit line may be considered for USD 100,000-.

 

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

 

Profitability

CORRECT

Public Records

NO

 

Indebtedness

CONTROLLED

Payments

REGULAR

 

Cash

NORMAL

 

 

 

 

 

APPENDIX

 

Person Interviewed

 

Sally

Position

 

Accounts Payable Department

Comments

 

We contacted a person who refused to provide any information regarding the company on grounds of confidentiality.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.27

UK Pound

1

Rs.73.34

Euro

1

Rs.64.58

 

 

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

--

NB

                                       New Business

 

--

 

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.