MIRA INFORM REPORT

Report Date :

28.06.2011

IDENTIFICATION DETAILS

Correct Name :	KC INTERNATIONAL LLC (EKMAN RECYCLING)

Registered Office :	2711 Centerville Road Suite 400, Wilmington, DE 19808

Country :	United States

Date of Incorporation :	16.03.2004

Legal Form :	Limited Liability Company

Line of Business :	Recycling Broker

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 350,000.
Status :	Good
Payment Behaviour :	Regular
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 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

United States

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:	Ekman Recycling
Address in the order:	1608 Route 88 West Suite 301 Brick NJ 08724

Legal Name:	KC International LLC (Ekman Recycling)
Trade Name:	Ekman Recycling
Legal Address	2711 Centerville Road Suite 400, Wilmington, DE 19808, USA
Operative Address	1608 Route 88 W Ste 301 Brick, NJ 08724, USA
Telephone:	+1 (732) 202 - 9500	ID :	3777796
Fax:	+1 (732) 202 - 9525	Legal Form:	Limited Liability Company
Email:	info@ekmanrecycling.com	Registered in:	Delaware
Website:	http://www.ekmanrecycling.com	Date Created:	2002
Manager:	Frank Crowley , President	Date Incorporated:	March 16th, 2004
Staff:	51	Stock:	NA
		Value:	NA
Activity:	Recycling Broker

BANKS

Name of the Bank	PNC Bank
Name of the Bank	HSBC BANK USA

BUSINESS

HISTORY
	The company was created in the year 2002. In 2004 it was acquired by EKMAN & CO AB and from 2007 it does business as EKMAN RECYCLING.
PRINCIPAL ACTIVITY
	The company offers waste recycling as well as brokerage, equipment and financing services.
Sales are:
	Wholesale
Clients:
	Professionals of the industry
Operations area:
	National, International
The company imports from Worldwide
The subject employs 51 employee(s)
PAYMENTS
	regular
LOCATION
Headquarters
	The company is located in: 1608 Route 88 W Ste 301 Brick, NJ 08724, USA
Comments on location:
	The company is incorporated in Delaware for tax purposes.
Branches:
	The company has other locations in California, Florida, Georgia, Maine, Massachusetts, Ohio, Ontario and Wisconsin, as well as in Sweden.

Shareholders - Manager - Related Companies

Listed at the stock exchange:
	NO
Shareholders Parent Company(ies):
	The company is a subsidiary of EKMAN & CO AB: Lilla Bommen 1 P.O. Box 230 SE-401 23 Gothenburg Phone: +46 31 750 55 00 Web: http://www.ekmanonline.com
Management:
	Frank Crowley, President Phil Epstein, Board Member Ivana Pepe, Manager

Financials - COMMERCIAL TRENDS AND FORECAST

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

We have contacted Richard from Accounts Payable Department, who provided us with the following data (ESTIMATES):

Currency	DATE
USD	2010
Turnover	20,000,000
The cash flow is	Normal

Currency	DATE
USD	2009
Turnover	17,000,000
The cash flow is	Normal

Currency	DATE
USD	2008
Turnover	12,000,000
Net Income	1,000,000
The cash flow is	Normal

Legal Fillings

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

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 company that has 51 employees and has been in business for 9 years.

It works as a subsidiary of EKMAN & CO AB.

There were no legal filings found against the company or its legal representatives.

A credit line may be considered for USD 350,000.-

SUMMARY

FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	CORRECT	Public Records	NO
Indebtedness	CONTROLLED	Payments	REGULAR
Cash	NORMAL

APPENDIX

Person Interviewed
	Richard
Position
	Accounting
Comments
	We contacted Richard from Accounts Payable Department and he verified all the information and provided us some financial estimates.

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.10
UK Pound	1	Rs.71.88
Euro	1	Rs.63.75

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.