MIRA INFORM REPORT

 

 

Report Date :           

09.05.2011

 

IDENTIFICATION DETAILS

 

Name :

WORLD KITCHEN LLC

 

 

Registered Office :

Corporation Trust Center 1209 Orange Street, Wilmington, New Castle, DE 19801

 

 

Country :

United States  

 

 

Date of Incorporation :

15.11.1991

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Manufacturer and distributor of bakeware, dinnerware, kitchen and household tools, rangetop cookware and cutlery products

 

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 :

USD 2,000,000.

Status :

Satisfactory

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:

World Kitchen LLC

Address in the order:

1200 South Antrim Way, Greencastle PA 17225

Comments on data supplied:

Dear client,

 

The address provided belongs to a branch location.

Legal Name:

World Kitchen LLC

 

 

Legal Address

Corporation Trust Center 1209 Orange Street, Wilmington, New Castle, DE 19801, USA

Operative Address

5500 N. Pearl Street, Suite 400

Rosemont, Illinois 60018, USA

Telephone:

+1 (847) 678-8600

ID :

2279079

Fax:

+1 (847) 678-9424

Legal Form:

Corporation for Profit

Email:

aikinsjm@worldkitchen.com

Registered in:

Delaware

Website:

http://www.worldkitchen.com/

Date Created:

-

Manager:

Joseph Mallof, Chief Executive Officer

Date Incorporated:

November 15, 1991

Staff:

2,899

Stock:

NA

 

 

Value:

NA

Activity:

Manufacturer and distributor of bakeware, dinnerware, kitchen and household tools, rangetop cookware and cutlery products.

 

 

BANKS

 

Name of the Bank

Bank of Montreal

 

BUSINESS

 

PRINCIPAL ACTIVITY

 

World Kitchen, LLC and its affiliates manufacture and market bakeware, dinnerware, kitchen and household tools, rangetop cookware and cutlery products.

 

It sells products through multiple channels, including mass merchants, department stores, specialty retailers, retail food stores, and website catalog showrooms.

Products/Services description:

 

The company offers the following products:

Dinnerware Sets

Cookwear Sets

Boilers

Fluted Tube Pan

Insulated Pan

Pizza Crisper

6-Cup Texas Muffin Pan

Oval Roaster w/ Cover

Among others

Sales are:

 

Wholesale

Brands:

 

CorningWare

Pyrex

Corelle

Revere

EKCO

Baker’s Secret

Magnalite

Chicago Cutlery

OLFA

OLO

Clients:

 

Professionals of the industry

Suppliers:

 

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

Operations area:

 

National, International

The subject employs 2,899 employee(s)

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company is incorporated in Delaware for tax purposes; however, it is headquartered in Illinois.

 

The Legal Address belongs to the Registered Agent:

The Corporation Trust Company

Corporation Trust Center 1209 Orange Street, Wilmington, New Castle, DE 19801, USA

 

The company is headquartered at:

5500 N. Pearl Street, Suite 400

Rosemont, Illinois 60018, USA

Branches:

 

It has distribution operations in the United States, Canada, and Asia-Pacific regions.

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

This company is privately held. It is a subsidiary of WKI HOLDING COMPANY INC.

 

5500 PEARL ST STE 400

Rosemont, Illinois 60018

USA

Phone: +1 (847) 233-8600

Management:

 

Joseph Mallof, Chief Executive Officer

Cindy Baier, Chief Financial Officer

Joe Esposito, Vice President of Operations

John Conklin, Chief Information Officer and Vice President Supply Chain

Joseph W. McGarr, Senior Vice President

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted the company several times, but there was nobody available to take our call.

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

598,400,000

The cash flow is

Normal

 

Legal Fillings

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

 

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 big sized American company, with 2,899 employees. It has been incorporated for business since 1991.

 

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

 

The company has international presence.

 

Since this is a Limited Liability Company, no action could succeed against the owner's personal assets.

 

A credit line may be considered for USD 2,000,000.-

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public Records

NO

 

Indebtedness

CONTROLLED

Payments

REGULAR

 

Cash

NORMAL

 

 

 

 

APPENDIX

 

Comments

 

We have contacted the company several times, but there was nobody available to take our call.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.78

UK Pound

1

Rs.73.43

Euro

1

Rs.65.27

 

 

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.