MIRA INFORM REPORT

 

 

Report Date :           

26.03.2011

 

IDENTIFICATION DETAILS

 

Name :

STANLEY BLACK & DECKER INC

 

 

Registered Office :

1000 Stanley Drive New Britain, CT 06053

 

 

Country :

United States 

 

 

Financials (as on) :

03.01.2011

 

 

Year of Establishment :

1843

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Manufactures tools and engineered security solutions

 

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 :

EUR 3,000,000

 

 

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

United States 

a1

a1

 

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:

stanley

 

Address in the order:

Address         Myrtle Street,

Town             New Britain

State             USA

 

Legal Name:

STANLEY BLACK & DECKER INC

 

Legal Address

1000 Stanley Drive New Britain, CT 06053

 

Operative Address

1000 Stanley Drive New Britain, CT 06053

 

Telephone:

+ 1 (860) 225-5111

ID :

0074441

 

Fax:

+ 1 (860) 827-3895

Legal Form:

Corporation for Profit

 

Email:

federica.campagna@cervedgroup.com

Registered in:

Connecticut

 

Website:

www.stanleyblackanddecker.com

Date Created:

1843

 

Manager:

John F. Lundgren, CEO

Date Incorporated:

-

 

Staff:

36,700

Stock:

167,207,462 Shares

 

 

 

Value:

$2.50 Par value

 

Activity:

Manufactures tools and engineered security solutions

 

 

 

BANKS    

 

Name of the Bank

BANK OF AMERICA

 

Name of the Bank

WELLS FARGO

 

Name of the Bank

First National Bank Of Boston

 

Name of the Bank

First National Bank Of Boston

 

 

BUSINESS    

 

HISTORY

 

 

The company was created in the year 1843.

 

PRINCIPAL ACTIVITY

 

 

This company manufactures tools and engineered security solutions. It provides a range of mechanical and electronic security products and systems, as well as various security services consisting of security integration systems, software, and related installation, maintenance, monitoring services.

 

Products/Services description:

 

 

Tools that build and repair infrastructures

Hand Tools

Power Tools

Power Tool Accessories

Licensed Products

 

Sales are:

 

 

Wholesale

 

Brands:

 

 

Baldwin

Pfister

Proto

Sargent and Greenleaf

Bostitch

 

Clients:

 

 

Various Industries

 

Suppliers:

 

 

CJ Rush

Sonitrol

Scan Modul

Best

CRC- Evans

Stanley Asembly

Emhart Teknologies

 

Operations area:

 

 

National, International

 

The company imports from Worldwide

 

Trade References:

 

 

The Home Depot

 

Competitors:

 

 

Aeroturn LLC

Lighthouse Communications

R K S Security LLC

United Technologies Corporation

Armor Locksmith & Security Inc

 

PAYMENTS

 

 

regular

 

LOCATION

 

Headquarters

 

 

The company is headquartered at 1000 STANLEY DR., NEW BRITAIN, CT 06053, USA.

 

Branches:

 

 

There were no branches found for this company.

 

Business Overview:

 

 

Individual companies depends on efficient inventory management and order fulfillment operations. Large companies can supply customers with a wider range of goods and in more markets, but smaller distributors can compete successfully by carrying specialty products or providing add- on services.

 

 

 

 

 

 

 

Shareholders - Manager - Related Companies    

 

Capital:

 

 

Breakdown

% of Shares Held by All Insider and 5% Owners: 1%

% of Shares Held by Institutional & Mutual Fund Owners: 81%

% of Float Held by Institutional & Mutual Fund Owners: 82%

Number of Institutions Holding Shares: 430

 

Shareholders Parent Company(ies):

 

 

Top Institutional Holders:

 

FMR LLC

BARROW, HANLEY MEWHINNEY & STRAUSS, INC.

STATE STREET CORPORATION

WELLINGTON MANAGEMENT COMPANY, LLP

VANGUARD GROUP, INC. (THE)

CRAMER ROSENTHAL McGLYNN LLC/ADV

MASSACHUSETTS FINANCIAL SERVICES CO - OTHER

BlackRock Institutional Trust Company, N.A.

MAVERICK CAPITAL LTD.

Ameriprise Financial, Inc.

 

Top Mutual Fund Holders:

 

VANGUARD/WELLESLEY INCOME FUND

VANGUARD TOTAL STOCK MARKET INDEX FUND

MFS SERIES TRUST I-MFS VALUE FUND

Columbia Fds Ser Tr I-Columbia Value & Restructuring Fd

VANGUARD 500 INDEX FUND

FIDELITY EQUITY-INCOME FUND

FIDELITY VALUE FUND

VANGUARD SELECTED VALUE FUND

SPDR S&P 500 ETF Trust

CRM Mutual Fd Tr-Mid Cap Value Fd

 

Management:

 

 

John F. Lundgren, CEO

Donald Allan Jr, CFO

James M. Loree, COO

Hubert W. Davis , CIO

Jeffery D. Ansell, Vicepresident

Vice President

Corporate Tax

James M. Loree

Executive Vice President & Chief Operating Officer

Jeffrey D. Ansell

Senior Vice President & Group Executive

Construction & DIY

Bruce H. Beatt

Senior Vice President

General Counsel & Secretary

 

 

Related Companies:

 

 

On March 12, 2010, Stanley Works merged with Black & Decker to become Stanley Black & Decker.

The company has he following subsidiaries:

 

The Stanley Works Pty. Ltd. , Australia

 

The Stanley Works Israel Ltd., Israel 

Black & Decker Italia S.P.A., Italy 

Black & Decker Italia S.R.L., Italy

Weiser Lock Mexico, S. De R.L. De C.V., Mexico 

Black & Decker (Nederland) B.V., Netherlands 

PIH Services ME LLC, Oman

 

Among many others subsidiaries worldwide.

 

 

 

Financials - COMMERCIAL TRENDS AND FORECAST   

 

The subject is a public company traded at the stock exchange NYSE under ticker symbol "SWK". Please find enclosed the financial statements.

 

We have contacted the receptionist, She agreed to confirm the company's address, However she refused to transfer us to the accounting dept stating that all of the financial information was on the company's website and also stated that they were no aloud to provide that information over the phone.

 

Legal Fillings

 

 There are 103 UCC** files listed with the Secretary of State of Connecticut including:

 

 

Filing Number:  0002794948

Filing Date:  01-24-2011

Secured Party:  COILPLUS, INC.

Secured Party Address:  6250 N RIVER RD STE 3030 ROSEMONT  IL   60018- 4209

Debtor:  STANLEY BLACK & DECKER, INC.

 

 

Filing Number:  0002794769

Filing Date:  01-21-2011

Secured Party:  COILPLUS, INC.

Secured Party Address:  6250 N RIVER RD STE 3030 ROSEMONT  IL   60018- 4209

Debtor:  STANLEY BLACK & DECKER, INC.

 

 

Filing Number:  8660769

Filing Date:  11-16-2010

Secured Party:  BRUNNER & LAY INC.

Secured Party Address:  PO BOX 1190 SPRINGDALE  AR   72765- 1190

Debtor:  STANLEY BLACK & DECKER, INC.

 

 

Filing Number:  0002783630

Filing Date:  11-15-2010

Secured Party:  BRUNNER & LAY, INC.

Secured Party Address:  1510 N OLD MISSOURI RD SPRINGDALE  AR   72764- 2615

Debtor:  STANLEY BLACK & DECKER, INC.

 

 

Filing Number:  2010102902856

Filing Date:  10-29-2010

Secured Party:  PRINT-O-STAT INC/PACE RESOURCES INC

Secured Party Address:  40 S RICHLAND AVE YORK  PA   17404- 3425

Debtor:  STANLEY BLACK & DECKER INC

 

There were two law suits found against the company:

 

franklin v. Home Depot U.S.A, Inc. et al

Filed: July 12, 2010 as 1:2010cv00281 Updated: July 12, 2010 23:47:41

Plaintiff: Richard I franklin

Defendants: Home Depot U.S.A, Inc. and Stanley Black & Decker Inc

Cause Of Action: Diversity-Notice of Removal

 

 

Nationwide Mutual Insurance Company v. Stanley Black & Decker Inc.

Filed: June 14, 2010 as 3:2010cv01180 Updated: June 15, 2010 01:13:55

Plaintiff: Nationwide Mutual Insurance Company

Defendant: Stanley Black & Decker Inc.

Judge: Ed Kinkeade

Cause Of Action: Diversity-Product Liability

 

 

The last annual report was filed on February 18th, 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 records 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 good credit rate.

 

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

 

 

 

 Final Opinion

 

 

This company has been in business for 168 years. It has a staff of 36,700 employees at group level which makes it a large sized company.

There were two legal filings found against the company, though they were both from last year.

Our estimates showed us an increase of a 125% on the revenue compared to the year 2009.

The company gave a good profitability for the year 2010

Cash flow is normal, indebtedness is controlled, and there was also a decrease on the liabilities on a 35 %; respecting to the liabilities for the year 2009.

 

Due to the fact that this is a large sized company with several subsidiaries worldwide, and considering the fact that the revenue for the year increased significantly,

 

A credit line may be considered for EUR 3,000,000

 

 



SUMMARY    

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

GOOD

Public Records

YES

Indebtedness

CONTROLLED

Payments

REGULAR

Cash

NORMAL

 

 

 

APPENDIX    

 

Person Interviewed

 

 

Receptionist

 

Comments

 

 

She agreed to confirm the company's address, However she refused to transfer us to the accounting dept stating that all of the financial information was on the company's website.

 

 

Financial

 

Income Statement

View: Annual Data

All numbers in thousands

 

Period Ending

Jan 3, 2011

Jan 2, 2010

Jan 3, 2009

Total Revenue

8,409,600  

3,737,100  

4,426,200  

Cost of Revenue

5,460,800  

2,228,800  

2,754,800  

 

Gross Profit

2,948,800  

1,508,300  

1,671,400  

 

 

Operating Expenses

 

Research Development

-  

-  

-  

 

Selling General and Administrative

2,356,200  

1,153,500  

1,201,600  

 

Non Recurring

254,900  

54,700  

103,100  

 

Others

-  

-  

17,600  

 

 

 

Total Operating Expenses

-  

-  

-  

 

 

 

 

 

Operating Income or Loss

337,700  

300,100  

366,700  

 

 

 

 

Income from Continuing Operations

 

 

Total Other Income/Expenses Net

9,400  

46,900  

18,600  

 

 

Earnings Before Interest And Taxes

347,100  

347,000  

385,300  

 

 

Interest Expense

110,000  

63,700  

92,100  

 

 

Income Before Tax

237,100  

283,300  

293,200  

 

 

Income Tax Expense

38,900  

54,500  

72,500  

 

 

Minority Interest

-  

(2,000)

(1,700)

 

 

 

 

Net Income From Continuing Ops

198,200  

226,800  

219,000  

 

 

 

 

Non-recurring Events

 

 

Discontinued Operations

-  

(2,500)

87,900  

 

 

Extraordinary Items

-  

-  

-  

 

 

Effect Of Accounting Changes

-  

-  

-  

 

 

Other Items

-  

-  

-  

 

 

 

 

 

Net Income

198,200  

224,300  

306,900  

 

Preferred Stock And Other Adjustments

-  

-  

-  

 

 

 

Net Income Applicable To Common Shares

198,200  

224,300  

306,900  

 

 

 

 

 

Balance Sheet

View: Annual Data

All numbers in thousands

 

Period Ending

Jan 3, 2011

Jan 2, 2010

Jan 3, 2009

 

Assets

Current Assets

 

Cash And Cash Equivalents

400,700  

1,745,400  

211,600  

 

Short Term Investments

-  

-  

-  

 

Net Receivables

532,000  

1,417,100  

677,700  

 

Inventory

366,200  

1,272,000  

514,700  

 

Other Current Assets

113,000  

381,100  

94,000  

 

Total Current Assets

1,411,900  

4,815,600  

1,498,000  

Long Term Investments

-  

-  

-  

Property Plant and Equipment

575,900  

1,166,500  

579,800  

Goodwill

1,818,400  

5,941,900  

1,739,200  

Intangible Assets

776,400  

2,872,200  

856,900  

Accumulated Amortization

-  

-  

-  

Other Assets

186,500  

343,200  

192,700  

Deferred Long Term Asset Charges

-  

-  

-  

 

Total Assets

4,769,100  

15,139,400  

4,866,600  

 

Liabilities

Current Liabilities

 

Accounts Payable

893,600  

2,324,500  

965,500  

 

Short/Current Long Term Debt

298,400  

417,700  

227,700  

 

Other Current Liabilities

-  

-  

-  

 

Total Current Liabilities

1,192,000  

2,742,200  

1,193,200  

Long Term Debt

1,084,700  

3,018,100  

1,383,800  

Other Liabilities

360,500  

1,408,300  

445,300  

Deferred Long Term Liability Charges

120,400  

901,100  

119,500  

Minority Interest

25,400  

52,700  

18,500  

Negative Goodwill

-  

-  

-  

 

Total Liabilities

2,783,000  

8,122,000  

3,160,300  

 

Stockholders' Equity

Misc Stocks Options Warrants

-  

-  

-  

Redeemable Preferred Stock

-  

-  

-  

Preferred Stock

-  

-  

-  

Common Stock

230,900  

440,700  

230,900  

Retained Earnings

2,295,500  

2,301,800  

2,199,900  

Treasury Stock

(509,700)

(420,400)

(576,800)

Capital Surplus

126,700  

4,885,700  

91,500  

Other Stockholder Equity

(157,300)

(190,800)

(239,200)

 

Total Stockholder Equity

1,986,100  

7,017,000  

1,706,300  

 

Net Tangible Assets

(608,700)

(1,797,100)

(889,800)

 

 

 

 

Income Statement

View:  Quarterly Data

All numbers in thousands

 

Period Ending

Jan 3, 2011

Oct 2, 2010

Jul 3, 2010

Apr 3, 2010

Total Revenue

2,412,900  

2,369,100  

2,365,600  

1,262,000  

Cost of Revenue

1,543,300  

1,514,800  

1,596,600  

806,100  

 

Gross Profit

869,600  

854,300  

769,000  

455,900  

 

 

Operating Expenses

 

Research Development

-  

-  

-  

-  

 

Selling General and Administrative

635,000  

631,600  

646,200  

443,400  

 

Non Recurring

36,500  

28,100  

88,900  

101,400  

 

Others

-  

-  

-  

-  

 

 

 

Total Operating Expenses

-  

-  

-  

-  

 

 

 

 

 

Operating Income or Loss

198,100  

194,600  

33,900  

(88,900)

 

 

 

 

Income from Continuing Operations

 

 

Total Other Income/Expenses Net

3,500  

2,500  

2,200  

1,200  

 

 

Earnings Before Interest And Taxes

201,600  

197,100  

36,100  

(87,700)

 

 

Interest Expense

34,700  

29,200  

26,800  

19,300  

 

 

Income Before Tax

166,900  

167,900  

9,300  

(107,000)

 

 

Income Tax Expense

29,600  

44,800  

(37,000)

1,500  

 

 

Minority Interest

500  

100  

(500)

(100)

 

 

 

 

Net Income From Continuing Ops

137,800  

123,200  

45,800  

(108,600)

 

 

 

 

Non-recurring Events

 

 

Discontinued Operations

-  

-  

-  

-  

 

 

Extraordinary Items

-  

-  

-  

-  

 

 

Effect Of Accounting Changes

-  

-  

-  

-  

 

 

Other Items

-  

-  

-  

-  

 

 

 

 

 

Net Income

137,800  

123,200  

45,800  

(108,600)

 

Preferred Stock And Other Adjustments

-  

-  

-  

-  

 

 

 

Net Income Applicable To Common Shares

137,800  

123,200  

45,800  

(108,600)

 

 

 

 

 

 

 

 

 

 

 

Balance Sheet

View:  Quarterly Data

All numbers in thousands

 

Period Ending

Jan 3, 2011

Oct 2, 2010

Jul 3, 2010

Apr 3, 2010

 

Assets

Current Assets

 

Cash And Cash Equivalents

400,700  

1,635,900  

1,598,400  

1,505,400  

 

Short Term Investments

-  

-  

-  

-  

 

Net Receivables

532,000  

1,699,400  

1,550,000  

1,557,400  

 

Inventory

366,200  

1,396,800  

1,295,200  

1,397,600  

 

Other Current Assets

113,000  

370,200  

428,800  

523,500  

 

Total Current Assets

1,411,900  

5,102,300  

4,872,400  

4,983,900  

Long Term Investments

-  

-  

-  

-  

Property Plant and Equipment

575,900  

1,141,800  

1,067,000  

1,030,100  

Goodwill

1,818,400  

5,366,800  

5,039,200  

5,282,700  

Intangible Assets

776,400  

2,888,700  

2,672,000  

2,907,400  

Accumulated Amortization

-  

-  

-  

-  

Other Assets

186,500  

373,100  

345,000  

430,600  

Deferred Long Term Asset Charges

-  

-  

-  

-  

 

Total Assets

4,769,100  

14,872,700  

13,995,600  

14,634,700  

 

Liabilities

Current Liabilities

 

Accounts Payable

893,600  

2,429,600  

2,303,400  

2,450,100  

 

Short/Current Long Term Debt

298,400  

727,500  

771,300  

708,800  

 

Other Current Liabilities

-  

-  

-  

-  

 

Total Current Liabilities

1,192,000  

3,157,100  

3,074,700  

3,158,900  

Long Term Debt

1,084,700  

2,719,200  

2,318,700  

2,743,400  

Other Liabilities

360,500  

1,625,400  

1,574,000  

1,573,300  

Deferred Long Term Liability Charges

120,400  

433,400  

393,700  

620,700  

Minority Interest

25,400  

28,400  

25,300  

24,800  

Negative Goodwill

-  

-  

-  

-  

 

Total Liabilities

2,783,000  

7,963,500  

7,386,400  

8,121,100  

 

Stockholders' Equity

Misc Stocks Options Warrants

-  

-  

-  

-  

Redeemable Preferred Stock

-  

-  

-  

-  

Preferred Stock

-  

-  

-  

-  

Common Stock

230,900  

440,700  

440,700  

427,200  

Retained Earnings

2,295,500  

2,219,900  

2,152,500  

2,160,800  

Treasury Stock

(509,700)

(445,100)

(457,100)

(488,800)

Capital Surplus

126,700  

4,944,600  

4,935,100  

4,611,200  

Other Stockholder Equity

(157,300)

(250,900)

(462,000)

(196,800)

 

Total Stockholder Equity

1,986,100  

6,909,200  

6,609,200  

6,513,600  

 

Net Tangible Assets

(608,700)

(1,346,300)

(1,102,000)

(1,676,500)

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.65

UK Pound

1

Rs.71.91

Euro

1

Rs.63.28

 

 

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

 

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%)

 

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.