MIRA INFORM REPORT
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Report Date : |
26.02.2011 |
IDENTIFICATION DETAILS
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Name : |
VERTELLUS PERFORMANCE MATERIALS INC |
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Formerly Known As : |
Morflex, Inc. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
18.08.1983 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Supplier of specialty chemicals |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 150,000 |
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Status : |
Satisfactory |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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: |
Vertellus Performance Materials Inc |
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Address in the order: |
35 Avenue A, |
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Comments on data supplied: |
Dear client, We haven't found any company at the address provided. Nevertheless, we
have found that "Vertellus Performance Materials Inc" has a branch
location at a similar address: 40 Avenue A Bayonne, NJ 07002 |
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Legal Name: |
VERTELLUS PERFORMANCE MATERIALS INC |
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Legal Address |
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Operative Address |
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Telephone: |
336-292-1781 |
ID : |
0097965 |
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Fax: |
336-854-4058 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
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Website: |
Date Created: |
1927 |
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Manager: |
Timothy Zappala, President |
Date Incorporated: |
August 18, 1983 |
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Staff: |
120 (estimates) |
Stock: |
1000 (Common) |
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Value: |
$ 1.00 Par Value |
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Activity: |
Supplier of specialty chemicals. |
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BANKS
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Name of the Bank |
PNC BANK, N.A. |
BUSINESS
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HISTORY |
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The company was founded in 1927, formerly known as Morflex, Inc. and
changed its name in June 2006. |
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PRINCIPAL ACTIVITY |
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Vertellus Performance Materials Inc. manufactures specialty chemicals.
The company focuses on manufacturing organic esters, intermediates, and DEET,
a main active ingredient found in insect repellents. |
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Sales are: |
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Wholesale |
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Clients: |
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Professionals of the industry |
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Suppliers: |
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The person contacted refused to provide the name of the suppliers for
us to check trade references |
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Operations area: |
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National, International |
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The company imports from worldwide, depending on the demand. |
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The company export to worldwide, depending on the demand |
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The subject employs 120 (estimates) 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 |
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Branches: |
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The company has other locations at 40 Avenue A |
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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Vertellus Performance Materials, Inc. operates as a subsidiary of
Vertellus Specialties, Inc. Vertellus Specialties Inc. is a Leading global supplier of specialty chemicals
and technology for: agriculture, nutrition, plastics, polymers, and personal
care industries. Vertellus Specialties Inc. Phone: 317-247-8141 Fax: 317-248-6472 |
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Management: |
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Mr. Timothy Zappala, President Ken Osborne, Controller Terry Wyrick, Director of Operations Phil Cline, Technical Director Mr. Ed Frappier, Marketing Director |
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 Mrs. Trogdou, operator of the company, 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
(estimates): |
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Currency |
DATE |
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USD |
2008 |
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Turnover |
10,240,000 |
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Operating Income |
82,000 |
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Net Income |
55,000 |
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Bank liabilities |
80,000 |
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The cash flow is |
CORRECT |
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Currency |
DATE |
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USD |
2007 |
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Turnover |
9,800,000 |
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Operating Income |
187,000 |
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Net Income |
123,000 |
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Net worth |
500,000 |
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Bank liabilities |
100,000 |
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The cash flow is |
CORRECT |
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Comments on the financial data: The person
contacted refused to provide us with the latest financial figures. The
company was implicated in a Derogatory Payment: |
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Legal Fillings |
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There are 4 UCC** files listed with the
Secretary of State of North Carolina. 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 ** 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 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 medium sized American company which
employs 120 persons (estimates) and has been in business since 1927. There were no legal filings found against
the company or its representatives. A credit line may be considered for USD
150,000 |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
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APPENDIX
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Person Interviewed |
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Mrs. Trogdou |
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Position |
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Operator |
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Comments |
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The person contacted refused to provided us with the following
information: estimated number of employees, imports, exports and bank.
However, she refused to provide us with further 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.45.37 |
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1 |
Rs.73.25 |
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Euro |
1 |
Rs.62.68 |
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 |
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.