MIRA INFORM REPORT
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Report Date : |
01.06.2011 |
IDENTIFICATION DETAILS
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Name : |
MILLIKEN&COMPANY |
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Formerly Known As : |
Deering
Milliken Company |
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Registered Office : |
Corporation Trust Center 1209 Orange Street - Wilmington - New Castle - DE 19801 |
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Country : |
United States |
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Date of Incorporation : |
01.08.1966 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
manufactures and markets
textile, chemical, and floor covering products |
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 700,000. |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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: |
Milliken And Company |
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Address in the order: |
920 Milliken Rd. 29303, Spartanburg |
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Legal Name: |
Milliken&Company |
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Legal Address |
Corporation Trust Center
1209 Orange Street - Wilmington - New Castle - DE 19801 – USA (Registered
agent address) |
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Operative Address |
920 Milliken Rd. 29303,
Spartanburg SC - USA (Headquarters) |
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Telephone: |
+1 (864) 503-2020 |
ID : |
0644318 |
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Fax: |
+1 (864) 503-2100 |
Legal Form: |
Corporation for Profit |
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Email: |
info@milliken.com |
Registered in: |
Delaware |
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Website: |
http://www.milliken.com |
Date Created: |
1865 |
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Manager: |
Mr. Joe Salley, CEO |
Date Incorporated: |
August, 1st. 1966 |
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Staff: |
10,000 (estimates) |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Milliken & Company, Inc.
manufactures and markets textile, chemical, and floor covering products. |
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BANKS
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Name of the Bank |
CITIBANK, N.A. |
BUSINESS
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HISTORY |
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Milliken & Company, Inc.
was formerly known as Deering Milliken Company. The company was founded in
1865 and is based in Spartanburg, South Carolina. |
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PRINCIPAL ACTIVITY |
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Milliken & Company,
Inc. manufactures and markets textile, chemical, and floor covering products. |
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Products/Services description: |
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It offers carpets and area rugs for homes,
hotels, airports, offices, and commercial environments; chemicals, such as
performance additives, colorants, and chemical specialties; and knit and woven
fabrics using cotton, polyester and polyester, spandex, and nylon and nylon
blends, as well as flame resistant fibers for various markets, such as
restaurants, repair shops, stadiums, supermarkets, and pharmacies. It offers chemical
solutions for various markets, including plastics, automotive, house wares,
turf, consumer products, graphic arts, and packaging. (Among others) |
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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 subject employs
10,000 (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 the address listed above. |
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Comments on location: |
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The company is
incorporated in Delaware due to tax purposes. |
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Branches: |
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It has manufacturing facilities
in Belgium, Denmark, France, Japan, and the United Kingdom. |
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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This is a private
company. Despite our long searches, we could not identify the main
shareholders. |
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Management: |
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Mr. Joe Salley, CEO and
President Mr. Richard Dillard,
Director of Public Affairs Michael George, Personnel
Director Jeff Shaw, Director Jeff Green, Manager Roger Milliken,
Chairman John M Fly, Vice
President |
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 the
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. 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 |
Over 1 billion (estimates) |
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The cash flow is |
Normal |
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Legal Fillings |
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There are several UCC** files listed
with the Secretary of State of Delaware and South 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 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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This is a big sized American company whoch employs 10,000 people (estimates)
and has 146 years of experience in the market. There were no legal filings found against the company or its legal
representatives. Despite our long searches, we could not identify the main
shareholders. The income per employee remains pretty fair for the company's size. The subject is established. A credit line may be considered for USD 700,000.- |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
N.A. |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Position |
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Operator |
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Comments |
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The person contacted
refused to provide us any 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.45.03 |
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UK Pound |
1 |
Rs.74.43 |
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Euro |
1 |
Rs.64.75 |
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.