MIRA INFORM REPORT

 

 

Report Date :           

11.06.2011

 

IDENTIFICATION DETAILS

 

Name :

PENNPAC COMPANY

 

 

Registered Office :

345 E Stiegel St, Manheim, PA 17545-1609,

 

 

Country :

United States 

 

 

Date of Incorporation :

12.11.1995

 

 

Com. Reg. No.:

2669101

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Plastics Materials and Basic Forms and Shapes Merchant Wholesalers

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

65 000 USD.

Status :

Small Company 

Payment Behaviour :

Usually Correct 

Litigation :

Exists

 

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)

 

 

 

 

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:

Pennpac Company

Address in the order:

345E Stiegel St. 17545 Manheim Pennsylvania

 

 

Legal Name:

Pennpac Company

 

 

Legal Address

345 E Stiegel St,

Manheim, PA 17545-1609, USA

 

 

Telephone:

+1(717) 664-4040

Registration Number :

2669101

Fax:

+1 (717) 664-4095

Legal Form:

Corporation for Profit

Email:

sales@pennpac.com   

Registered in:

Pennsylvania

Website:

www.pennpac.net

Date Created:

1994

Manager:

William H Palmer

Date Incorporated:

12/11/1995

Staff:

20

Stock:

NA

 

 

Value:

NA

Activity:

Plastics Materials and Basic Forms and Shapes Merchant Wholesalers.

 

 

BANKS

 

Name of the Bank

CITIZENS BANK OF PENNSYLVANIA 

Location                                   

525 WILLIAM PENN PL PITTSBURGH  PA   15219

Name of the Bank

PNC BANK

Location                                   

249 5TH AVE PITTSBURGH  PA   15222

 

BUSINESS

 

PRINCIPAL ACTIVITY

 

The company is a warehouse and converting service center for international producers of specialty flexible films.

 

Products/Services description:

 

Biaxially Oriented Polypropylene Film

Cast Oriented Polypropylene Film

Polyethylene Film

Polyester Film

Biaxlly Oriented Nylon

Sales are:

 

Wholesale

Clients:

 

producers of specialty packaging films

Operations area:

 

National

The company imports from worldwide.

The company does not export

Competitors:

 

Polyone Corporation

A Schulman, Inc

A M Castle & Co

The subject employs 20 employee(s)

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company is headquartered and single located at the above address.

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Management:

 

William H Palmer, President and CEO

 

 

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

3.9 M

The cash flow is

normal

 

 

Currency

DATE

USD

2008

Turnover

4.7 M

The cash flow is

normal

 

 

Legal Fillings

 There are 5 UCC files listed with the Secretary of State of Pennsylvania.

 

 

There are no current legal filings listed with the District Court.

 

 

For information:

 

 

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 16 years in the business.

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

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

There was an adverse record against the subject in 2007 but no current one.

Also, the revenue has decreased between 2008 and 2010.

A credit line may be considered for 65 000 USD.

 

 




 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public Records

YES

Indebtedness

CONTROLLED

Payments

REGULAR

Cash

NORMAL

 

 

 





 Bottom of Form

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.72

UK Pound

1

Rs.72.93

Euro

1

Rs.64.72

 

 

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.