MIRA INFORM REPORT
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Report Date : |
29.03.2011 |
IDENTIFICATION DETAILS
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Name : |
HAMBURG INDUSTRIES INC |
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Registered Office : |
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Country : |
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Year of Establishment |
1894 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Broom Manufacturers |
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 50.000. |
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Status : |
Satisfactory |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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
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Currency: USD |
IDENTIFICATION
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Ordered as: |
Hamburg Industries Inc |
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Address in the order: |
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Legal Name: |
Hamburg Industries Inc |
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Legal Address |
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Operative Address |
218 Pine Streethamburg, |
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Telephone: |
+1 (610) 562-3031 |
ID : |
151790 |
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Fax: |
+1 (610) 562-0209 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
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Website: |
Date Created: |
1894 |
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Manager: |
Richard E Stiller, CEO |
Date Incorporated: |
- |
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Staff: |
30 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Broom Manufacturers. |
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BANKS
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Name of the Bank |
SOVEREIGN BANK |
BUSINESS
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HISTORY |
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The company was established in |
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PRINCIPAL ACTIVITY |
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The company is a manufacturer and importer of brooms, brushes and mops
for both the professional cleaning industry and the retail class of trade. |
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Products/Services description: |
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Brooms Brushes Dust Mops Handles Miscellaneous Power Brushes Push Brooms Wet Mops |
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Sales are: |
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Wholesale |
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Clients: |
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Various Industries |
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Operations area: |
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National |
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The company imports from |
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The company does not export |
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Trade References: |
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The person contacted refused to provide the names of their suppliers
for us to check the trade references. |
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The subject employs 30 employee(s) |
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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 |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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This is a privately held company. Despite our long searches it has not
been possible to identify the shareholders. |
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Management: |
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Richard Stiller, CEO Robert Bast, Executive Director Donald Seibert, Vice President Danna Ladd, finance Executive |
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 refused to provide us any financial
data on grounds of confidentiality. |
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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 |
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Turnover |
3.200.000 |
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Legal Fillings |
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There are 4 UCC** files listed with the
Secretary of State of Pennsylvania. 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 ** 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 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 company has been incorporated for
business for several years; it has a staff of 30 employees which makes it a
medium sized company. There were no legal fillings found against
the company or its legal representatives, which makes it a more reliable
company. We found several payment experience and financial
data as well for the year 2010. Therefore, a credit line may be considered
for USD 50.000. |
SUMMary
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
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APPENDIX
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Person Interviewed |
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Operator |
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Comments |
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We have successfully contacted the company. However, the operator was really
rude and did not provide us with any information on grounds of
confidentiality. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.78 |
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1 |
Rs.71.64 |
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Euro |
1 |
Rs.62.96 |
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 |
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.