MIRA INFORM REPORT

 

 

Report Date :

21.01.2011

 

IDENTIFICATION DETAILS

 

Name :

EI DUPONT DE NEMOURS & COMPANY

 

 

Registered Office :

1007 Market St, Wilmington, DE, 19898

 

 

Country :

United States

 

 

Financials (as on) :

31.12.2009

 

 

Year of Establishment :

1802

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Chemical Manufacturer

 

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  3,000,000

 

 

Status :

Good

 

 

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

 

Legal Name:

EI DUPONT DE NEMOURS & COMPANY

Legal Address

1007 Market St, Wilmington, DE, 19898, USA

Telephone:

+1 (302)-774-10 00

Registration Number :

0048306

Fax:

+1 (302)-999-43 99

Legal Form:

Corporation for Profit

Email:

N.A.

Registered in:

Delaware

Website:

www2.dupont.com

Date Created:

1802

Manager:

Ellen Kullman ,CEO

Date Incorporated:

September 04th,  1915

Staff:

58,000 employees

Stock:

903,608,000 shares

 

 

Value:

0.30 par value

Activity:

Chemical Manufacturer.

 

 

BANKS

 

Name of the Bank

US BANK

 

BUSINESS

 

HISTORY

 

E. I. DUPONT DE NEMOURS AND COMPANY is a publicly company created in 1802 in Delaware.

PRINCIPAL ACTIVITY

 

E. I. DUPONT DE NEMOURS AND COMPANY operates as a science and technology company worldwide.

The subject is also doing business as (Dupont).

Products/Services description:

Sales are:

 

Wholesale

Brands:

 

Corian®

Kevlar®

SentryGlas®

Clients:

 

It serves construction, transportation, communications, industrial chemicals, oil and gas, electric utilities, automotive, manufacturing, defense, homeland security and safety consulting, refrigeration, insulation, aerosol propellants, aerospace, automotive, electronics, chemical processing, and house ware industries.

Operations area:

 

National, International

The company imports from Worldwide

The company export to Worldwide

Trade References:

 

Despite our searches we were not able to find any company's trade references.

Competitors:

 

- Eastman Chemical Company

- Air Products And Chemicals, Inc

- The Dow Chemical Company

The subject employs 58,000 employee(s)

PAYMENTS

 

Regular

 

LOCATION

Headquarters

 

The subject is headquartered at the above address.

Branches:

 

The company operates in the United States, Europe, the Asia Pacific, Canada, and Latin America.

Business Overview:

 

Because chemicals are used to make a wide variety of industrial and consumer products, demand is driven by the overall health of the US economy. The profitability of individual companies is closely tied to efficient operations. Big companies have large economies of scale in production. Small companies can compete effectively by producing specialty products, of which there are a large number, or by operating a single plant highly efficiently.

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

YES

Capital:

 

The company is publicly traded at the NYSE under the symbol “DD”

Stock Data

Market Capitalization (in millions) $32,077.21

Percent Owned by Institutions 63.38%

Shares Outstanding (in millions) 903.84

Number of Institutional Shareholders 1,625

Public Float (in millions)* 902.30

Percent Owned by Insiders 0.17%

Shareholders Parent Company(ies):

 

The subject is publicly traded at the NYSE under the symbol "DD":

 

- MAJOR INSTITUTIONAL AND MUTUAL FUND HOLDERS

STATE STREET CORPORATION

Barclays Global Investors UK Holdings Ltd

VANGUARD GROUP, INC. (THE)

Capital World Investors

AXA

BlackRock Institutional Trust Company, N.A.

Bank of New York Mellon Corporation

BARROW, HANLEY MEWHINNEY & STRAUSS, INC.

PRICE (T.ROWE) ASSOCIATES INC

NORTHERN TRUST CORPORATION

INCOME FUND OF AMERICA INC

VANGUARD/WINDSOR II

AMERICAN BALANCED FUND

VANGUARD 500 INDEX FUND

VANGUARD TOTAL STOCK MARKET INDEX FUND

SPDR TRUST SERIES 1

VANGUARD INSTITUTIONAL INDEX FUND-INSTITUTIONAL INDEX FD

DIAMONDS TRUST SERIES I

WASHINGTON MUTUAL INVESTORS FUND

SELECT SECTOR SPDR FD-MATERIALS

 

- MAJOR DIRECT HOLDERS

 

HOLLIDAY CHARLES O JR

KULLMAN ELLEN JAMISON

CONNELLY THOMAS M JR

KEEFER JEFFREY L 175,860

GOODMANSON RICHARD RR

Management:

 

Ellen J. Kullman - Chief Executive Officer

 

Nicholas C. Fanandakis - Chief Financial Officer, Senior Vice President

 

Jeffrey L. Keefer - Executive Vice President - DuPont Finance

 

Thomas M. Connelly Jr. - Executive Vice President, Chief Innovation Officer

 

James C. Borel - Executive Vice President

 

Mark P. Vergnano - Executive Vice President

 

Thomas L. Sager - Senior Vice President, General Counsel

 

W. Donald Johnson - Senior Vice President - DuPont Human Resources

Related Companies:

 

DuPont Operations (Luxembourg) SARL

DuPont Operations Worldwide, Inc.

DuPont Performance Coating France SAS

DuPont Performance Coating Nederland BV

DuPont Performance Coatings Austria GmbH

DuPont Performance Coatings GmbH

DuPont Performance Coatings (Shanghai) Co. Ltd.

DuPont Performance Coatings (U.K.) Ltd.

DuPont Performance Coatings Venezuela, C.A.

DuPont Performance Elastomers, L.L.C.

DuPont Powder Coatings USA, Inc.

DuPont Trading (Shanghai) Co., Ltd.

E.I. DuPont Canada Company

E.I. DuPont India Private Limited

EKC Technology, Inc.

First Chemical Corporation

First Chemical Texas, L.P.

Holding DuPont S.A. de C.V.

Liqui-Box Corporation

Pioneer Hi-Bred International, Inc.

Solae L.L.C.

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

The subject is a public company traded at the stock exchange. Please find enclosed the financial statements.

However our financial sources could provide us with the following data (estimates):

 

Comments on the financial data: The subject is a public company traded at the stock exchange. Please find enclosed the financial statements.
Comments on the financial data: Annual Income Statement
Year over year, EI DuPont de Nemours & Co. has seen revenues fall from $31.8B to $27.31B. In addition, the company has been unable to reduce the percentage of sales devoted to cost of goods sold, SGA expenses and income tax expenses. This has led to a reduction in the bottom line from $2.0B to $1.8B.

Quarterly Balance Sheet
EI DuPont de Nemours & Co. may have more financial risk than other companies in the Chemicals industry as it is one of the most highly leveraged, with a Debt to Total Capital ratio of 59.05%. Additionally, the percentage of debt used in its capital structure grew this year. However, an examination of near-term assets and liabilities shows that there are enough liquid assets to satisfy current obligations. Accounts Receivable are typical for the industry, with 79.24 days worth of sales outstanding. Last, inventories seem to be well managed as the Inventory Processing Period is typical for the industry, at 90.70 days.

 

Legal Fillings

 There is one UCC file listed with the Secretary of State of Delaware.

1. Filing Number:  015903163

Filing Date:  01-04-2011

Filing Jurisdiction:  ILLINOIS

Filing History:  Filing Type Filing Date

 

Secured Party:  E. I. DUPONT DE NEMOURS AND COMPANY

Secured Party Address:  4417 LANCASTER PIKE

WILMINGTON  DE   19805- 1523

 

Debtor:  XERTREX INTERNATIONAL, INC.

Debtor Address:  1530 GLENLAKE AVE

ITASCA  IL   60143- 1117

 

2. Filing Number:  100037399224

Filing Date:  12-30-2010

Filing Jurisdiction:  TEXAS

Filing History:  Filing Type Filing Date

UCC STANDARD 12-30-2010

 

Secured Party:  E. I. DUPONT DE NEMOURS AND COMPANY

Secured Party Address:  4417 LANCASTER PIKE

WILMINGTON  DE   19805- 1523

 

Debtor:  INOVAR PACKAGING GROUP, LLC

Debtor Address:  602 MAGIC MILE ST

ARLINGTON  TX   76011- 5108

 

3.Filing Number:  OH00147186189

Filing Date:  12-29-2010

Filing Jurisdiction:  OHIO

Filing Location:  SECRETARY OF STATE/UCC DIVISION

180 E BROAD ST 16TH FLOOR

COLUMBUS  OH   43215

Filing History:  Filing Type Filing Date

INITIAL FILING 12-29-2010

Secured Party:  E. I. DUPONT DE NEMOURS AND COMPANY

Secured Party Address:  4417 LANCASTER PIKE

WILMINGTON  DE   19805- 1523

 

Debtor:  KOPCO GRAPHICS, INC.

Debtor Address:  250 OSBORNE DR

FAIRFIELD  OH   45014- 2246

 

4. Filing Number:  9810545398-5

Filing Date:  12-16-2010

Filing Jurisdiction:  NEBRASKA

Filing Location:  SECRETARY OF STATE/UCC DIVISION

   1301 STATE CAPITOL

LINCOLN  NE   68509

Filing History:  Filing Type Filing Date

INITIAL FILING 12-16-2010

Secured Party:  E. I. DU PONT DE NEMOURS AND COMPANY

Secured Party Address:  1007 MARKET ST

WILMINGTON  DE   19898- 0001

Debtor:  AG VALLEY COOPERATIVE

Debtor Address:  PO BOX 68

EDISON  NE   68936- 0068

 

5. Filing Number:  10120221189830

Filing Date:  12-02-2010

Filing Jurisdiction:  OKLAHOMA

Filing Location:  OKLAHOMA CENTRAL FILING OFFICE/UCC DIVISION

3201 W PARK PL

OKLAHOMA CITY  OK   73107

Filing History:  Filing Type Filing Date

INITIAL FILING 12-02-2010

 

Secured Party:  E I DU PONT DE NEMOURS AND COMPANY

Secured Party Address:  1007 MARKET ST

WILMINGTON  DE   19898- 0001

Debtor:  BLACKWELL COOPERATIVE ELEVATOR ASSOCIATION

Debtor Address:  410 N MAIN ST

BLACKWELL  OK   74631- 2233

 

The company is defendant in various pending lawsuits and proceedings and is subject to various other claims arising in the normal course of its business. Although the outcome of these lawsuits and proceedings cannot be predicted with certainty at this time, it is believed that the ultimate disposition of such suits will not have a material adverse effect on the company.

 

The last annual report was filed on 2/17/2010.

 

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 Good 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 has 208 years in the business.

 

It is a large sized company.

Profitability is good, indebtedness is high, cash is good and payments are regular.

A credit line may be considered.

 

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

 

Profitability

GOOD

Public Records

YES

 

 

Indebtedness

CONTROLLED

Payments

REGULAR

 

 

Cash

NORMAL

 

 

 

 

 

 

ADVISED CREDIT

3,000,000 USD

 

Financials

 

Income Statement  Annual Data (Figures in thousands of USD)

Period Ending

Dec 31, 2009

Dec 31, 2008

Dec 31, 2007

Total Revenue

27,328,000  

31,836,000  

30,653,000  

Cost of Revenue

19,708,000  

24,083,000  

21,565,000  

 

Gross Profit

7,620,000  

7,753,000  

9,088,000  

 

 

Operating Expenses

 

Research Development

1,378,000  

1,393,000  

1,338,000  

 

Selling General and Administrative

3,650,000  

3,593,000  

3,364,000  

 

Non Recurring

-  

-  

-  

 

Others

-  

-  

213,000  

 

 

 

Total Operating Expenses

-  

-  

-  

 

 

 

 

 

Operating Income or Loss

2,592,000  

2,767,000  

4,173,000  

 

 

 

 

Income from Continuing Operations

 

 

Total Other Income/Expenses Net

-  

-  

-  

 

 

Earnings Before Interest And Taxes

2,592,000  

2,767,000  

4,173,000  

 

 

Interest Expense

408,000  

376,000  

430,000  

 

 

Income Before Tax

2,184,000  

2,391,000  

3,743,000  

 

 

Income Tax Expense

415,000  

381,000  

748,000  

 

 

Minority Interest

(14,000)

(3,000)

(7,000)

 

 

 

 

Net Income From Continuing Ops

1,755,000  

2,007,000  

2,988,000  

 

 

 

 

Non-recurring Events

 

 

Discontinued Operations

-  

-  

-  

 

 

Extraordinary Items

-  

-  

-  

 

 

Effect Of Accounting Changes

-  

-  

-  

 

 

Other Items

-  

-  

-  

 

 

 

 

 

Net Income

1,755,000  

2,007,000  

2,988,000  

 

Preferred Stock And Other Adjustments

-  

-  

-  

 

 

 

Net Income Applicable To Common Shares

$1,755,000  

$2,007,000  

$2,988,000

 

 

 

 

 

Income Statement Quarterly Data (Figures in thousands of USD)

 

 

Period Ending

Sep 30, 2010

Jun 30, 2010

Mar 31, 2010

Dec 31, 2009

Total Revenue

7,067,000  

9,080,000  

8,844,000  

6,814,000  

Cost of Revenue

5,443,000  

5,984,000  

5,796,000  

4,956,000  

 

Gross Profit

1,624,000  

3,096,000  

3,048,000  

1,858,000  

 

 

Operating Expenses

 

Research Development

409,000  

404,000  

365,000  

389,000  

 

Selling General and Administrative

782,000  

1,021,000  

993,000  

801,000  

 

Non Recurring

-  

-  

-  

-  

 

Others

-  

-  

-  

-  

 

 

 

Total Operating Expenses

-  

-  

-  

-  

 

 

 

 

 

Operating Income or Loss

433,000  

1,671,000  

1,690,000  

668,000  

 

 

 

 

Income from Continuing Operations

 

 

Total Other Income/Expenses Net

-  

-  

-  

-  

 

 

Earnings Before Interest And Taxes

433,000  

1,671,000  

1,690,000  

668,000  

 

 

Interest Expense

103,000  

103,000  

103,000  

96,000  

 

 

Income Before Tax

330,000  

1,568,000  

1,587,000  

572,000  

 

 

Income Tax Expense

(39,000)

400,000  

450,000  

127,000  

 

 

Minority Interest

(2,000)

(9,000)

(8,000)

(4,000)

 

 

 

 

Net Income From Continuing Ops

367,000  

1,159,000  

1,129,000  

441,000  

 

 

 

 

Non-recurring Events

 

 

Discontinued Operations

-  

-  

-  

-  

 

 

Extraordinary Items

-  

-  

-  

-  

 

 

Effect Of Accounting Changes

-  

-  

-  

-  

 

 

Other Items

-  

-  

-  

-  

 

 

 

 

 

Net Income

367,000  

1,159,000  

1,129,000  

441,000  

 

Preferred Stock And Other Adjustments

-  

-  

-  

-  

 

 

 

Net Income Applicable To Common Shares

$367,000  

$1,159,000  

$1,129,000  

$441,000 

 

 

 

 

Balance Sheet: Quarterly Data (Figures in thousands of USD)

 

 

eriod Ending

Sep 30, 2010

Jun 30, 2010

Mar 31, 2010

Dec 31, 2009

 

Assets

Current Assets

 

Cash And Cash Equivalents

4,088,000  

2,215,000  

2,911,000  

4,021,000  

 

Short Term Investments

1,892,000  

1,744,000  

1,599,000  

2,116,000  

 

Net Receivables

8,062,000  

8,697,000  

7,642,000  

5,642,000  

 

Inventory

5,420,000  

4,581,000  

5,062,000  

5,380,000  

 

Other Current Assets

127,000  

128,000  

222,000  

129,000  

 

Total Current Assets

19,589,000  

17,365,000  

17,436,000  

17,288,000  

Long Term Investments

1,108,000  

1,047,000  

1,050,000  

1,014,000  

Property Plant and Equipment

10,976,000  

10,910,000  

10,960,000  

11,094,000  

Goodwill

2,135,000  

2,134,000  

2,137,000  

2,137,000  

Intangible Assets

2,407,000  

2,435,000  

2,499,000  

2,552,000  

Accumulated Amortization

-  

-  

-  

-  

Other Assets

3,703,000  

3,821,000  

3,904,000  

4,100,000  

Deferred Long Term Asset Charges

-  

-  

-  

-  

 

Total Assets

39,918,000  

37,712,000  

37,986,000  

38,185,000  

 

Liabilities

Current Liabilities

 

Accounts Payable

7,110,000  

6,855,000  

7,112,000  

7,884,000  

 

Short/Current Long Term Debt

2,211,000  

651,000  

1,484,000  

1,506,000  

 

Other Current Liabilities

-  

-  

-  

-  

 

Total Current Liabilities

9,321,000  

7,506,000  

8,596,000  

9,390,000  

Long Term Debt

10,175,000  

9,577,000  

9,543,000  

9,528,000  

Other Liabilities

10,639,000  

11,228,000  

11,295,000  

11,490,000  

Deferred Long Term Liability Charges

132,000  

125,000  

129,000  

126,000  

Minority Interest

454,000  

450,000  

442,000  

436,000  

Negative Goodwill

-  

-  

-  

-  

 

Total Liabilities

30,721,000  

28,886,000  

30,005,000  

30,970,000  

 

Stockholders' Equity

Misc Stocks Options Warrants

-  

-  

-  

-  

Redeemable Preferred Stock

-  

-  

-  

-  

Preferred Stock

237,000  

237,000  

237,000  

237,000  

Common Stock

299,000  

298,000  

298,000  

297,000  

Retained Earnings

12,235,000  

12,245,000  

11,463,000  

10,710,000  

Treasury Stock

(6,727,000)

(6,727,000)

(6,727,000)

(6,727,000)

Capital Surplus

8,763,000  

8,569,000  

8,514,000  

8,469,000  

Other Stockholder Equity

(5,610,000)

(5,796,000)

(5,804,000)

(5,771,000)

 

Total Stockholder Equity

9,197,000  

8,826,000  

7,981,000  

7,215,000  

 

Net Tangible Assets

$4,655,000  

$4,257,000  

$3,345,000  

$2,526,000 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.58

UK Pound

1

Rs.72.73

Euro

1

Rs.61.45

 

 

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.