MIRA
INFORM REPORT
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Report Date : |
13.05.2011 |
IDENTIFICATION DETAILS
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Name : |
NORDSON CORPORATION |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.10.2010 |
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Date of Incorporation : |
17.10.1935 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Equipment manufacturing |
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 3,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
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 |
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IDENTIFICATION
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Comments on data supplied: |
Please note that the address provided is similar to a branch location
of the company. The headquarters address is listed below. |
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Legal Name: |
Nordson Corporation |
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Legal Address |
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Operative Address |
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Telephone: |
(440) 892-1580 |
ID : |
164495 |
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Fax: |
(440) 892-9507 |
Legal Form: |
Corporation for Profit |
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Email: |
info@nordson.com |
Registered in: |
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Website: |
http://www.nordson.com/ |
Date Created: |
1935 |
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Manager: |
Mr. Michael F. Hilton, Chief Executive Officer, President |
Date Incorporated: |
October 17th, 1935 |
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Staff: |
3,680 |
Stock: |
33,979,349 |
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Value: |
No par value |
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Activity: |
Equipment manufacturing. |
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BANKS
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Name of the Bank |
MICHIGAN HERITAGE BANK |
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Location |
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Name of the Bank |
THE HUNTINGTON NATIONAL BANK |
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Location |
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BUSINESS
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HISTORY |
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The company was created in 1935. The company has presence worldwide. |
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PRINCIPAL ACTIVITY |
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The company manufactures equipment used for precision material
dispensing, testing and inspection, surface preparation, and curing. |
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Products/Services description: |
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Equipment ranges from manual, stand-alone units for low-volume
operations to microprocessor-based automated systems for high-speed, and
high-volume production lines. It manufactures and distributes its products through the following
segments: Adhesive Dispensing Systems Nonwovens Equipment Packaging Paper and Paperboard Converting Product Assembly Web Coating Among others. |
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Brands: |
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Nordson, Asymtek, ColorMax, Control Coat, Dage, EFD and Saturn, among
many others. |
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Clients: |
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The company serves various markets, including the appliance,
automotive, bookbinding, container, converting, electronics, food and
beverage, furniture, life sciences and medical, light emitting diodes (LED),
metal finishing, nonwoven, packaging, semiconductor, and solar energy
industries. |
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Operations area: |
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National, International |
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The company export to worldwide |
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The subject employs 3,680 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 legal address of the company is that of the registrant officer: The company is headquartered at: |
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Surface area: |
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Branches: |
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The company has branches in: |
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Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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YES |
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Capital: |
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Breakdown % of Shares Held by All Insider and 5% Owners: 16% % of Shares Held by Institutional & Mutual Fund Owners: 72% % of Float Held by Institutional & Mutual Fund Owners: 86% Number of Institutions Holding Shares: 197 |
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Shareholders Parent Company(ies): |
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Major Direct Holders IGNAT DAVID W 1,473,297 Shares HARDIS STEPHEN R 54,298 Shares MADAR WILLIAM P 42,480
Shares KEANE JOHN J 21,738 Shares Top Institutional Holders NEUBERGER BERMAN GROUP, LLC 5.70% VANGUARD GROUP, INC. (THE) 4.70% KEYBANK NATIONAL ASSOCIATION 3.58% BlackRock Fund Advisors 3.54% STATE STREET CORPORATION 3.28% PRICE (T.ROWE) ASSOCIATES INC 3.19% ROYCE & ASSOCIATES, LLC 3.02% SouthernSun Asset Management, Inc. 2.73% FRANKLIN RESOURCES, INC 2.66% Top Mutual Fund Holders NEUBERGER & BERMAN GENESIS FUND 4.15% FIDELITY CONTRAFUND INC 3.15% BARON SMALL CAP FUND 1.91% PRICE (T.ROWE) SMALL-CAP VALUE FUND 1.63% ISHARES RUSSELL 2000 INDEX FD 1.39% PENNSYLVANIA MUTUAL FUND INC 1.38% VANGUARD SMALL-CAP INDEX FUND 1.33% ROYCE TOTAL RETURN FUND 1.07% |
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Management: |
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Board of Directors: Joseph P. Keithley, Chairman, President and Chief Executive Officer
Keithley Instruments, Inc. Lee C. Banks, Vice President and Operating Officer Parker Hannifin Corporation Michael F. Hilton, President and Chief Executive Officer, Nordson
Corporation David W. Ignat, Consulting Physicist William P. Madar, Retired Chairman and Chief Executive Officer,
Nordson Corporation Michael J. Merriman, Jr., Operating Advisor Resilience Capital Partners Mary J. Puma, Chairman and Chief Executive Officer Axcelis Technologies, Inc. Victor L. Richey, Jr., Chairman, President and Chief Executive Officer
ESCO Technologies, Inc. William L. Robinson, Distinguished Professor of Law, University of the
Benedict R. Rosen, Retired Chairman, AVX Corporation Executive Officers: Michael F. Hilton, President and Chief
Executive Officer Gregory A. Thaxton, Vice President, Chief Financial Officer John J. Keane, Senior Vice President, Advanced Technology Systems Peter G. Lambert, Senior Vice President, Adhesive Dispensing Systems Douglas C. Bloomfield, Vice President, Industrial Coating Systems Gregory P. Merk, Vice President, Pacific South Shelly M. Peet, Vice President, Chief Information Officer and Human
Resources Robert E. Veillette, Vice President, General Counsel & Secretary |
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Related Companies: |
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Subsidiaries Asymptotic Technologies, Inc. March Plasma Systems, Inc. H.P. Solutions, Inc. Dage Precision Industries, Inc. YESTech, Inc. Nordson Nordson EFD LLC. EFD, International, Inc. MLT Systems Holdings (Pty.) Limited ( Nordson Among others |
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Financials - COMMERCIAL TRENDS AND FORECAST
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The subject is a public company traded at the NasdaqGS stock exchange
under the symbol "NDSN". Please find enclosed the financial
statements. |
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Legal Fillings |
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There are several UCC** files
listed with the Secretary of State of Ohio. The company is subject to various legal proceedings and claims that
arise in the ordinary course of their business. Although the outcome of these
other claims cannot be predicted with certainty, management does not believe
that the ultimate resolution of these matters will have a material adverse
effect on the financial condition or results of operations The last annual report was filed on 12/17/2010. 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 is a big sized American company. It employs 3,680 people and has
been in business for 75 years. A credit line may be considered for USD 3,000,000 |
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SUMMARY
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Profitability |
GOOD |
Public Records |
YES |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
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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 |
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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.