MIRA INFORM REPORT

 

 

Report Date :           

25.06.2011

 

IDENTIFICATION DETAILS

 

Name :

ZEECO INC

 

 

Registered Office :

22151 E 91st St, Broken Arrow   Ok  74014

 

 

Country :

United States 

 

 

Date of Incorporation :

22.03.1979

 

 

Com. Reg. No.:

1900333052

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Design and manufacture of industrial burners, flares, and incinerators

 

 

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 :

800 000 USD

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:

Zeeco Inc

Address in the order:

22151, East 91st Street Broken Arrow 74014 OK

 

 

Legal Name:

ZEECO INC

 

 

Legal Address

22151 E 91ST ST

BROKEN ARROW   OK   74014

 

 

Telephone:

+1 (918) 258-8551

Registration Number :

1900333052

Fax:

+1 (918) 251-5519   

Legal Form:

Corporation for Profit

Email:

sales@zeeco.com

Registered in:

Oklahoma

Website:

http://www.zeeco.com/

Date Created:

1979

Manager:

Darton Zink

Date Incorporated:

March 22, 1979

Staff:

250

Stock:

NA

 

 

Value:

NA

Activity:

Design and manufacture of industrial burners, flares, and incinerators

 

 

BANKS

 

Name of the Bank

JPMORGAN CHASE BANK, N.A.

Name of the Bank

TRIAD BANK N.A.

 

BUSINESS

 

PRINCIPAL ACTIVITY

 

Zeeco, Inc. engages in the design and manufacture of industrial burners, flares, and incinerators.

Products/Services description:

 

The company also designs and manufactures various combustion equipment systems, including direct-fired air heaters, calciner air heaters, acid gas burners, replacement parts, in-line reheat burners, high temperature reaction furnaces, and associated combustion equipment for sulfur recovery plants and burner management systems. Its services include turnkey installations, burner cleaning and repair, efficiency surveys, start-up assistance, troubleshooting, scheduled burner maintenance, operator training, and combustion seminars.

Sales are:

 

Wholesale

Clients:

 

Petroleum, chemical, petrochemical, and pharmaceutical industries

Operations area:

 

National, International

The company imports from worldwide

The company export to worldwide

Trade References:

 

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

Competitors:

 

Schnitzer Steel Industries, Inc

Hni Corporation

A O Smith Corporation

The subject employs 250 employee(s)

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company is headquartered at the address listed above.

Branches:

 

The company has a branch location at:

12777 Jones Road, #365

Houston, Texas 77070 USA

Business Overview:

 

Demand is driven by consumer income and the rate of product innovation. The profitability of individual companies depends on manufacturing efficiency and effective marketing and distribution. Large companies have advantages in economies of scale in manufacturing, marketing, and distribution. Small companies can compete effectively by offering specialty products or components in system solutions, such as speakers in a home theatre system. Average annual revenue per worker is about $500,000 per year.

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Management:

 

Darton Zink, President

Scott Johnson, CFO

Dan Caho, Marketing Executive

TOM BUTCHKO, GENERAL MANAGER

 




Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted the operator of 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.

 

Currency

DATE

USD

2010

Turnover

51,000,000

The cash flow is

Normal

 

 

Legal Fillings

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

 

 

Filing Number:  11040620323780

Filing Date:  04-06-2011

Filing Jurisdiction:  OKLAHOMA

Secured Party:  GENERAL ELECTRIC CAPITAL CORPORATION

Secured Party Address:  PO BOX 35701

BILLINGS  MT   59107- 5701

Debtor:  ZEECO INC

 

 

Filing Number:  10080420785320

Filing Date:  08-04-2010

Filing Jurisdiction:  OKLAHOMA

Secured Party:  GENERAL ELECTRIC CAPITAL CORPORATION

Secured Party Address:  PO BOX 35701

BILLINGS  MT   59107- 5701

Debtor:  ZEECO INC

 

 

Filing Number:  10020220099440

Filing Date:  02-02-2010

Filing Jurisdiction:  NEW YORK

Secured Party:  JPMORGAN CHASE BANK, N.A., AS COLLATERAL AGENT

Secured Party Address: 

Debtor:  ZEECO, INC.

 

 

Filing Number:  2009008070935

Filing Date:  08-11-2009

Filing Jurisdiction:  OKLAHOMA

Secured Party:  DELL FINANCIAL SERVICES LLC

Secured Party Address:  12234 N I H 35 BLDG B

AUSTIN  TX   78753- 1705

Debtor:  ZEECO INC

 

 

Filing Number:  E2009008070935

Filing Date:  08-11-2009

Filing Jurisdiction:  OKLAHOMA

Secured Party:  DELL FINANCIAL SERVICES LLC

Secured Party Address:  12234 N I H 35 BLDG B

AUSTIN  TX   78753- 1705

Debtor:  ZEECO INC 

 

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 32 years in the business.

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

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

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

A credit line may be considered for 800 000 USD.

 

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public Records

NO

Indebtedness

CONTROLLED

Payments

REGULAR

Cash

NORMAL

 

 

 

 

APPENDIX

 

Comments

 

The operator refused to provide us any information on grounds of confidentiality.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.94

UK Pound

1

Rs.71.89

Euro

1

Rs.64.09

 

 

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.