MIRA INFORM
REPORT
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Report Date : |
28.06.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
STONERIDGE CONTROL DEVICES INC |
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Registered Office : |
155 Federal Street Ste 700, Boston, Ma 02110 |
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Country : |
United States |
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Date of Incorporation : |
13.12.1999 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Control Devices |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 750,000 |
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Status : |
Good |
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Payment
Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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United States |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GEOPOLITICS - UNITED STATES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal Economic Risk: Nil |
Currency: USD Branch Situation: Stable |
IDENTIFICATION
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Ordered as: |
Pollak Switching Products |
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Address in the order: |
Div of Stoneridge Control Devices 300, Dan Rd Canton MA 02021 |
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Comments on data supplied: |
Dear Client, we did not find the company
Pollak Switching Products registered in the Secretary of State of
Massachussets or any other. Nevertheless, we have found that it is a non
incorporated business unit of STONERIDGE CONTROL DEVICES INC. Therefore, we
did the report on this company. The address provided in the order is a
location that the company operates. It is in fact headquartered at the
address listed below. |
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Legal Name: |
STONERIDGE CONTROL DEVICES INC (ordered as Pollak Switching Products) |
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Legal Address |
155 FEDERAL STREET STE 700, BOSTON, MA
02110, USA (Registere Agent Address) |
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Operative Address |
9400 EAST MARKET STREET, WARREN, OH 44484,
USA |
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Telephone: |
(330) 856-2443 (headquarters) / (781)
830-5356 |
ID : |
043493548 |
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Fax: |
(330) 856-3618 (headquarters) / (781) 830-5452 |
Legal Form: |
Corporation for Profit |
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Email: |
corporate@stoneridge.com |
Registered in: |
Massachussets |
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Website: |
http://www.stoneridge.com / http://www.pollakaftermarket.com |
Date Created: |
NA |
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Manager: |
John C. Corey, President |
Date Incorporated: |
December 13, 1999 |
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Staff: |
over 1,000 |
Stock: |
100 shares |
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Value: |
0 Par value |
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Activity: |
Control Devices |
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BANKS
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Name of the Bank |
PNC Bank |
BUSINESS
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PRINCIPAL ACTIVITY |
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The company is one of the two segments operated by Stoneridge Inc. It focuses
on products that monitor, measure or activate a specific function within the
vehicle. It operates two non incorporated business units, Stoneridge Pollak
and Stoneridge Hi-Stat. |
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Products/Services description: |
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Electronic and electromechanical switches Control actuation devices Sensors |
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Sales are: |
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Wholesale |
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Clients: |
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Professionals of the industry. |
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Operations area: |
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National, International |
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The company export to North America and Europe. |
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Trade References: |
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We could not contact any representative of the subject company that
could provide us the names of their suppliers for us to check trade
references. |
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The subject employs over 1,000 employee(s) |
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Comments on staff: |
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At group level the number of employees is about 6,800. |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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The company is headquartered at: 9400 East Market Street, Warren, OH 44484, USA |
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Comments on location: |
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The company is incorporated in Massachusetts where it operates its
main manufacturing facility. However, it is headquartered in Ohio and it
shares its headquarters with its parent company. |
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Branches: |
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The company operates 3 manufacturing facilities. Its main location is at the address provided in the order: 300 Dan Road, Canton, MA 02021
Phone: 781.830.0340 Fax: 781.575.8964 |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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This is a private company. It is a subsidiary of Stoneridge Inc, a
public company based in Ohio with 6,800 employees worldwide. |
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Management: |
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Robert M. Loesch, Secretary John C. Corey, President, Director George E. Strickler, Vice President, Treasurer, Director Michael Sloan, Director |
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Related Companies: |
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Stoneridge Electronics AB Stoneridge Electronics AS Stoneridge Electronics Limited Stoneridge International Financial Services Company Stoneridge Electronics, Inc. Alphabet de Mexico S.A. de C.V. Alphabet de Mexico de Monclova S.A. de C.V. TED de Mexico S.A. de C.V. Stoneridge Asia Pacific Electronics (Suzhou) Co. Limited Bolton Conductive Systems, LLC. |
Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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We have contacted the company but we were transferred into the General
Voicemail of the Accounts Payable Department. |
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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. |
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Currency |
DATE |
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USD |
2010 (Consolidated) |
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Turnover |
635,226,000 |
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Operating Income |
22,803,000 |
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Net Income |
10,809,000 |
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Current Assets |
246,845,000 |
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Fixed Assets |
136,760,000 |
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Net worth |
83,780,000 |
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Liabilities |
167,903,000 |
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The cash flow is |
Medium |
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Comments on the financial data: Financial
information is consolidated with that of the parent company, Stoneridge Inc
(NYSE: SRI) |
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Legal Fillings |
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There are several UCC** files listed with
the Secretary of State of Massachusetts. There is no legal record found against the
subject or its legal representatives. The last annual report was filed on
3/15/2011 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
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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. |
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Final Opinion |
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This is a big sized company, with about
1,000 employees and over 13 years of experience. It is part of the group of companies led
by STONERIDGE INC, a company with about 6,800 employees worldwide. We have contacted the company but we were
transferred into the general voicemail of the accounting department and
nobody has returned our call. Nevertheless, being the parent company a public
company we could access the consolidated financial statements. We suggest a credit line for USD 750,000 To fully secure the credit line granted we
suggest calling the parent company as a guarantor. |
SUMMARY
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Profitability |
N.A. |
Public Records |
NO |
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Indebtedness |
N.A. |
Payments |
REGULAR |
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Cash |
N.A. |
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APPENDIX
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Comments |
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We have called the company at the number provided in the order, (781)
830-5356 but the person interviewed explained that as Pollak is a non
incorporated business unit of STONERIDGE we had to call the headquarters in
Ohio in order to get any kind of information about the subject. We then
called the headquarters but we were transferred into a voicemail of the
Accounts Payable Department and nobody has returned our call. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.10 |
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UK Pound |
1 |
Rs.71.88 |
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Euro |
1 |
Rs.63.75 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.