MIRA
INFORM REPORT
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Report Date : |
09.12.2011 |
IDENTIFICATION DETAILS
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Name : |
Printpack Inc |
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Registered Office : |
2800 Overlook Parkway Ne, Atlanta GA 30339 |
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Country : |
United States |
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Date of Incorporation : |
05.09.1956 |
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Com. Reg. No.: |
J510400 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Provider of Lexible And Specialty Rigid Packaging
Solutions. |
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No. of Employees : |
3800 |
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 1,000,000 |
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Status : |
Good |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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: |
Printpack Inc |
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Address in the order: |
2800 Overlook Pkwy 30339 Atlanta |
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Legal Name: |
PRINTPACK, INC. |
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Legal Address |
2800 Overlook Parkway NE ATLANTA GA 30339 USA |
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Operative Address |
2800 Overlook Parkway NE ATLANTA GA 30339 USA |
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Telephone: |
(404) 460-7000 |
Registration Number : |
J510400 |
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Fax: |
(404) 699-7122 |
Legal Form: |
Corporation for Profit |
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Email: |
info@printpack.com |
Registered in: |
Georgia |
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Website: |
www.printpack.com |
Date Created: |
1956 |
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Manager: |
Dennis M. Love - President |
Date Incorporated: |
September 5, 1956 |
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Staff: |
3800 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity: |
Provider of lexible and specialty rigid packaging
solutions. |
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BANKS
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Name of the Bank |
WELLS FARGO BANK |
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Location |
201 3RD ST FL 8 SAN FRANCISCO CA
94103- 3128 |
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Name of the Bank |
BANK ONE |
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Location |
1 BANK ONE PLZ CHICAGO
IL 60670 |
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BUSINESS
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HISTORY |
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The company was created in 1956 by J. Erskine Love, Jr. |
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PRINCIPAL ACTIVITY |
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It provides flexible and specialty rigid packaging
solutions in the United States. |
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Products/Services
description: |
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Its products include custom printing, stock items, tamper
evident, preforms, bags, flexible packaging, multi-packs/promos, and rigid
packaging. The company’s solutions include stand up pouches, matte finishes,
Freshgard films, Snowpack flat bottom bags, MetalWhite that combines the
marketing appeal of metalized film on the outside and the cleaner oil-masking
inside of a white sheet, Impress graphics solution, Viscopack system for bulk
liquids, Re-Seal It peel and re-close packaging system, and shrink labels, as
well as NeoAffinia PETG, a film that features matte finish and provides light
barrier protection for products negatively impacted by exposure to light. |
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Sales
are: |
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Wholesale |
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Brands: |
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PerformX Films NAtura |
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Clients: |
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It serves various markets, including snack foods, cereal,
bottle labels, bread and bakery, confectionery, pet food, meats, tissue and
towel overwrap, cookies and crackers, frozen foods, sauces and puddings, and
personal care products. Clients include: Frito-Lay, Georgia-Pacific, General
Mills, and Quaker Oats. |
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Operations
area: |
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National, International |
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The company export to
worldwide |
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Competitors: |
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Alcoa Inc. Pliant Corporation Tetra Pak International S.A. |
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The subject employs 3800 employee(s) |
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LOCATION |
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Headquarters |
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2800 Overlook Parkway, NE Atlanta, GA 30339 United States |
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Branches: |
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Printpack manufactures packaging at more than 25 plants in
the US, UK, Mexico, Poland, and China. |
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 has remained owned by the Love Family. The parent company is Printpack Enterprises, Inc. |
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Management: |
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Dennis M. Love - Chairman, President, and CEO, son of the
founder. R. Michael Hembree - VP Finance and Administration and CFO Gay M. Love - Chairman Emeritus Gray McCalley Jr. - Secretary |
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Related Companies: |
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Printpack
Mexico Mexico Av. de las
Fuentes 37, Parque Industrial FINSA, El Marques, Queretaro 76246 Printpack Europe England Bridge Hall Mills, Bury Lancashire, BL9 7PA, England Printpack Poland Sp. z o.o. Poland ul. Zolnierska 1, 99-300 Kutno, Poland Printpack China China Factory I2, Zone B, Export Processing Zone, Suzhou
Industrial Park 215126, Suzhou, Jiangsu, P.R. CHINA |
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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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 |
2010 |
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Turnover |
510,000,000 |
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Legal Fillings
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There are several
UCC** files listed with the Secretary of State of Georgia. There are no legal filings listed with the District Court.
The last annual report was filed on 3/22/2011. 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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The company has 55 years of experience in the business. It is a large size well established company. It is well known in the market, and has several
subsidiaries in the Americas, Europe and Asia. Their products are sold worldwide and clients include big
names in the food industry. It has remained family owned through the years. A credit line may be considered for USD 1,000,000. |
SUMMARY
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Profitability |
N.A. |
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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Comments |
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We left a message to the accounts payable department. As
of today, they have not returned our calls. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.77 |
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1 |
Rs.81.32 |
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Euro |
1 |
Rs.69.42 |
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.