MIRA INFORM REPORT

 

 

Report Date :           

09.06.2011

 

IDENTIFICATION DETAILS

 

Name :

HILMAR CHEESE COMPANY, INC

 

 

Registered Office :

9001 N. Lander Avenue, Hilmar Ca 95324

 

 

Country :

United States 

 

 

Date of Incorporation :

30.04.1984

 

 

Com. Reg. No.:

C1245565

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Cheese Processors (Mfrs)

 

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

 

Status :

Satisfactory

Payment Behaviour :

Usually Correct

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

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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:

Hilmar Ingredients

Address in the order:

9001 North Lander Avenue Hilmar California 95324

 

 

Legal Name:

HILMAR CHEESE COMPANY, INC

Trade Name:

Hilmar Ingredients

Legal Address

9001 N. LANDER AVENUE

HILMAR CA 95324

 

 

Mailing Address

P.O. Box 910

9001 N. Lander Avenue

Hilmar, California  95324

Telephone:

(209) 667-6076

Registration Number :

C1245565

Fax:

(209) 656-2557

Legal Form:

Corporation for Profit

Email:

info@hilmaringredients.com

Registered in:

California

Website:

http://www.hilmaringredients.com

Date Created:

1984

Manager:

John J. Jeter

Date Incorporated:

April 30, 1984

Staff:

600

Stock:

N.A.

 

 

Value:

N.A.

Activity:

Cheese Processors (Mfrs)

 

 

BANKS

 

Name of the Bank

WELLS FARGO BANK

 

BUSINESS

 

PRINCIPAL ACTIVITY

 

Hilmar Cheese Company, Inc. manufactures cheese and whey products.

Products/Services description:

 

It specializes in the production of cheddar and American cheese. The company also offers whey protein concentrates, isolates, hydrolysates, and edible lactose. In addition, it provides party, wedding reception, holiday, and special event catering services. The company’s products are used in various applications, such as frozen dinners, processed cheeses, baking ingredients, infant formulas, nutrition products, soups and sauces, prepared meals, ethnic foods, pharmaceuticals, derivatives and fermentation products, and confectioneries, as well as in food service, ingredients, retail, and restaurant/fast food trades.

Sales are:

 

Wholesale

Clients:

 

It sells its products through distributors in the United States and internationally, as well as offers its products online.

Operations area:

 

National, International

The company does not import

The company export to Asia, Europe, Mexico and Latin America

Trade References:

 

The person contacted refused to provide the names of their suppliers for us to check the trade references.

Competitors:

 

Kraft Foods Inc

Dairy Farmers Of America Inc

Foremost Farms Usa Cooperative

Dairiconcepts, Lp

The subject employs 600 employee(s)

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company is headquartered at the above address.

The property is:

 

Owned

Comments on location:

 

According to the company, it is the world's largest single-site cheese and whey manufacturing facility.

Branches:

 

It has production facilities in Hilmar, California; and Dalhart, Texas.

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Management:

 

Mr. John J. Jeter CEO and President

Phil Robnett Vice President of Sales and Marketing

Donald Hicks CFO

Dave Hudson Facilities Manager 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

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

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.

 

Currency

DATE

USD

2010

Turnover

720 000 000

The cash flow is

normal

 

Currency

DATE

USD

2007

Turnover

1.1 billion

The cash flow is

normal

 

 

Legal Fillings

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

 

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 has 27 years in the business.

It is a large sized American company, evolving in a stable sector.

Profitability is correct, indebtedness is controlled, cash is normal and payments are regular.

However, the revenue has dropped between 2007 and 2010.

We did not find a specific adverse record against the subject.

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public Records

NO

 

Indebtedness

CONTROLLED

Payments

REGULAR

 

Cash

NORMAL

 

 

 

 

 

APPENDIX

 

Person Interviewed

 

Patty

Position

 

Accounts receivable

Comments

 

She confirmed us some information; for financial and commercial data, she transferred us to another accountant; a message has been left but the call has not been returned yet.

 

 Bottom of Form

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.61

UK Pound

1

Rs.73.28

Euro

1

Rs.65.47

 

 

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.