MIRA
INFORM REPORT
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Report Date : |
13.05.2011 |
IDENTIFICATION DETAILS
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Name : |
KALSEC INC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
30.09.1975 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Spice and herb flavorings and colorings. |
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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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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Legal Name: |
Kalsec Inc |
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Legal Address |
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Mailing Address |
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Telephone: |
+1 (269) 349-9711 |
ID : |
131487 |
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Fax: |
+1 (269) 382-3060 |
Legal Form: |
Corporation for Profit |
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Email: |
info@kalsec.com |
Registered in: |
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Website: |
www.kalsec.com |
Date Created: |
1975 |
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Manager: |
George Todd, Chief Executive Officer |
Date Incorporated: |
Sept 30, 1975 |
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Staff: |
250 |
Stock: |
20 000 |
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Value: |
NA |
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Activity: |
Spice and herb flavorings and colorings. |
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BANKS
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Name of the Bank |
CUPERTINO NATIONAL BANK |
BUSINESS
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HISTORY |
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Kalsec, Inc. was formerly known as Kalamazoo Spice Extraction Co. |
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PRINCIPAL ACTIVITY |
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Kalsec, Inc. produces and distributes spice, herb, hop, and vegetable
extracts for use in food, beverage, and pharmaceutical applications |
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Products/Services description: |
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Products include: Spice Extracts Capsicum Garlic and Onion Natural Colors Liquid Seasonings Oxidation Management Specialty Hop Extracts |
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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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Suppliers: |
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The person contacted refused to provide the name of the suppliers for us
to check trade references |
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Operations area: |
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National |
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The company imports from |
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The subject employs 250 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: |
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Branches: |
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The company has a farming and dehydration facility in |
Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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This is a privately held company. Despite our long searches we could
not identify the main shareholder |
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Management: |
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George Todd, Chief Executive Officer Gary Hainrihar, Manager |
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 Ms. Louise, from the accounting department, who
refused to provide us any financial data without knowing the name of the
inquiring party. |
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A previous agent was able to gather the following information. We have
found no financial information for the year 2010, and the staff was
uncooperative. According to the information gathered we believe that the subject's
financials remains in the same range with the one for the previous years |
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Currency |
DATE |
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USD |
2008 |
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Turnover |
22,700,000 |
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LegalFillings |
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There are 4 UCC** files listed
with the Secretary of State of Michigan. 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. 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
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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 medium sized American company with 250 employees and 35
years of experience. The company is well established and no adverse record was found
against it or its legal representatives. According to the information gathered we believe that the subject's
financials remains in the same range with the one for the previous years. |
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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Ms. Louise |
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Position |
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Accounting department |
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Comments |
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The person contacted confirmed the staff, management, imports,
address, branch locations. Nevertheless, she refused to provide us with any financial data 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.44.79 |
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1 |
Rs.73.19 |
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Euro |
1 |
Rs.63.59 |
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 |
-- |
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.