MIRA INFORM REPORT

 

 

Report Date :

24.02.2011

 

IDENTIFICATION DETAILS

 

Name :

BASF CORPORATION

 

 

Registered Office :

Corporation Trust Center 1209 Orange Street, Wilmington, DE, 19801

 

 

Country :

United States 

 

 

Date of Incorporation :

11.08.1977

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Producer and marketer of chemicals and related products

 

 

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 2,000,000.

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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: Nil

Currency: USD

Branch Situation:Stable

 

 

IDENTIFICATION

 

Ordered as:

BASF Corporation

Address in the order:

1609 Priddle Avenue Wyandoffe, Michigan 48192

Comments on data supplied:

Dear client,

 

The address provided is that of a branch location of the company.

Legal Name:

BASF Corporation

 

 

Legal Address

Corporation Trust Center 1209 Orange Street, Wilmington, DE, 19801, USA (registered agent address)

Operative Address

100 Campus Drive, Florham Park, New Jersey 07932, USA (headquarters)

Telephone:

(734) 324-5476

Document Number :

0842062

Fax:

(973) 245-6002

Legal Form:

Corporation for Profit

Email:

info@basf.us

Registered in:

Delaware

Website:

http://www2.basf.us

Date Created:

1977

Manager:

Dr. Kurt Bock, CEO

Date Incorporated:

Aug 11, 1977

Staff:

15,500 (at group level)

Stock:

NA

 

 

Value:

NA

Activity:

Producer and marketer of chemicals and related products

 

 

BANKS

 

Name of the Bank

BANK OF AMERICA, N.A.

 

BUSINESS

 

HISTORY

 

The company was founded in 1977.

PRINCIPAL ACTIVITY

 

BASF Corporation is currently the third largest producer and marketer of chemicals and related products in North America.

 

The company was chosen the America’s Most Admired chemical company in Fortune Magazine, 2009 and the Leading chemical company in the Dow Jones Sustainability by the World Index, 2008

Products/Services description:

 

CORE BUSINESS SEGMENTS:

 

• Plastics: Foams, engineering plastics, polyurethanes, polyamide, biodegradable plastics;

• Performance Products: Acrylics and dispersions; paper chemicals; personal care ingredients; detergents and formulators; nutrition and pharmaceutical ingredients; chemicals for coatings, automotive, leather and textiles;

• Functional Solutions: Catalysts, construction chemicals, automotive and industrial coatings, paints;

• Agricultural Solutions: Crop protection, biotechnology;

• Chemicals: Inorganics, petrochemicals, intermediates

Sales are:

 

Wholesale

Clients:

 

CUSTOMER INDUSTRIES:

•Construction

•Chemicals

•Automotive

•Agriculture

•Health and Beauty

•Packaging

Operations area:

 

National, Local

The company imports from worldwide, depending on the demand.

The company does not export

The subject employs 15,500 (at group level) employee(s)

PAYMENTS

 

regular

LOCATION

Headquarters

 

The subject is headquartered at the above address.

Comments on location:

 

The company is incorporated in Delaware for tax purposes. However, it is headquartered in NJ.

Branches:

 

The company has more than 115 production and R&D facilities in North America including the one provided in the order: Wyandotte North Works

1609 Biddle Avenue Wyandotte, Michigan 48192.

 

These are the other locations:

 

Decatur, Alabama

Dinuba, California

Orange, California

Atlanta, Georgia

Livonia, Michigan

Southfield, Michigan

Palmyra, Missouri

Belvidere, New Jersey

Holly Springs, North Carolina

Among many others.

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

This is a private company, owned by BASF SE (Publicly traded: XETRA: BAS.DE)

 

 

 

 

BASF is the world’s leading chemical company. Its portfolio ranges from chemicals, plastics, performance products, agricultural products and fine chemicals to crude oil and natural gas.

 

BASF SE

ZOK - Z 36

67056 Ludwigshafen

+49 (0) 621 60 43785

+49 (0) 621 60 22516

Management:

 

Dr. Kurt Bock, Chairman and Chief Executive Officer

Dr. Beate Ehle, Executive Vice President, Chief Operating Officer & President, Business Development

Fried-Walter Münstermann, Executive Vice President and Chief Financial Officer

David Stryker, Senior Vice President and General Counsel

Related Companies:

 

Subsidiaries:

BASF Canada

100 Milverton Drive, 5th Floor

Mississauga, Ontario

L5R 4H1

Main Switchboard: (289) 360-1300

Main Fax: (289) 360-6000

 

BASF Mexicana, SA. de CV. »

Insurgentes Sur, 975

Col. Ciudad de los Deportes

Delegacion Benito Juarez

03710 Mexico, D.F.

Telephone: (005255) 325 26 00

Fax: (005255) 325 27 77

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted the operator of the company who refused to provide us any financial data without knowing the name of the inquiring party.

Financial data is consolidated with that of the parent company, Basf SE:

 

Currency

DATE

EUR

2009

Turnover

50,693,000,000

Operating Income

3,677,000,000

Net Income

1,410,000,000

Current Assets

19,587,000,000

Fixed Assets

31,681,000,000

Net worth

18,609,000,000

Liabilities

32,659,000,000

Bank liabilities

14,819,000,000

The cash flow is

NORMAL

 

 

Legal Fillings

 There are several UCC** files listed with the Secretary of State of Delaware.

 

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 company was founded 33 years ago. The company currently employs 15,50 people being considered a large sized company.

 

Based on the information analyzed, the company seems to have an adequate business structure with several branches and large workforce. Subject is supported by its parent company, which trades publicly in Europe.

 

The sources consulted record no detrimental legal or labor court information.

 

A credit line may be considered for USD 2,000,000.

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public Records

NO

Indebtedness

CONTROLLED

Payments

REGULAR

Cash

NORMAL

 

 

 

 

APPENDIX

 

Position

 

Operator of the company

Comments

 

The person contacted refused to provide us any information on grounds of confidentiality.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.20

UK Pound

1

Rs.73.17

Euro

1

Rs.61.88

 

 

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.