MIRA INFORM REPORT

 

 

Report Date :           

15.06.2011

 

IDENTIFICATION DETAILS

 

Name :

GLEASON CUTTING TOOLS CORPORATION

 

 

Registered Office :

Corporation Trust Center 1209 Orange Street, Wilmington, New Castle, De

 

 

Country :

United States 

 

 

Date of Incorporation :

11.06.1997

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Industrial Machinery & Equipment

 

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 2,000,000

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

 

 Bottom of Form

 

 

GEOPOLITICS - UNITED STATES

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

The Gleason Cutting Tools Corp

Address in the order:

P O Box 2950, Loves Park IL 61132-2950

 

 

Legal Name:

GLEASON CUTTING TOOLS CORPORATION

 

 

Legal Address

CORPORATION TRUST CENTER 1209 ORANGE STREET, WILMINGTON, NEW CASTLE, DE, USA (incorporators)

Operative Address

1351 Windsor Road, Loves Park IL 61111, United States of America (headquarters)

Telephone:

815 877 8900

ID :

2760743

Fax:

815 877 0264

Legal Form:

Corporation for Profit

Email:

info@gleason.com

Registered in:

Delaware

Website:

http://www.gleason.com/

Date Created:

1865

Manager:

James S. Gleason, Chairman

Date Incorporated:

June 11th, 1997

Staff:

250 to 499

Stock:

1,500

 

 

Value:

No Par Value

Activity:

Industrial Machinery & Equipment

 

 

BANKS

 

Name of the Bank

STATE BANK OF INDIA (NEW YORK)

 

 

BUSINESS

 

HISTORY

 

The company was founded in 1865.

PRINCIPAL ACTIVITY

 

Industrial Machinery & Equipment

Products/Services description:

 

Gleason Corporation is a global leader in the technology of gearing.

 

Products and services include machinery for the production, finishing and testing of gears

Operations area:

 

National, International

The subject employs 250 to 499 employee(s)

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company was incorporated in Delaware for tax purposes.

 

The legal address is that of the incorporators: CORPORATION TRUST CENTER 1209 ORANGE STREET, WILMINGTON, NEW CASTLE, DE, USA

 

However, the company is headquartered at: 1351 Windsor Road, Loves Park IL 61111, United States of America

Comments on location:

 

Headquarters and operative location

Branches:

 

The company has nationwide operations.

 

 

Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

This is a private company. The Gleason family is the main shareholder.

Management:

 

James S. Gleason, Chairman

John J. Perrotti, President and Chief Executive Officer

Edward J. Pelta, Vice President, General Counsel and Secretary

John W. Pysnack, Vice President, Finance and Treasurer

Nanci Malin-Peck, Vice President, Corporate Human Resources

Dr. Hermann J. Stadtfeld, Vice President, Bevel Gear Technology

William J. Simpson, Vice President, Global Supply Chain

Thomas P. Courtney, Director, New Product Development

Gerald R. Adamski, Director, Global Customer Service

Randall P. Terho, Director, Corporate Information Technology

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted the company, who refused to provide us any financial data without knowing the name of the inquiring party.

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.

Comments on the financial data: The company has a turnover between U$ 50 to 100 million

Legal Fillings

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

 

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

 

This is a medium sized American company, which employs between 250 and 499 people, and has 145 years of experience in the market.

 

The company has international operations.

 

The financial data show a correct commercial behaviour.

 

A credit line may be considered for USD 2,000,000

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public Records

NO

Indebtedness

CONTROLLED

Payments

REGULAR

Cash

NORMAL

 

 



APPENDIX

 

Comments

 

We have contacted the company, who refused to provide us any financial data without knowing the name of the inquiring party.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.77

UK Pound

1

Rs.73.45

Euro

1

Rs.64.55

 

 

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.