MIRA INFORM REPORT

 

 

Report Date :           

14.05.2011

 

IDENTIFICATION DETAILS

 

Name :

SEAMAN PAPER COMPANY OF MASSACHUSETTS

 

 

Registered Office :

35 Wilkins Road Gardner, MA 01440

 

 

Country :

United States 

 

 

Date of Incorporation :

23.12.1954

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Manufactures and sells paper 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 :

1,000,000 USD

 

 

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:

Seaman Paper Company

Address in the order:

Tak ID 04-218-4201 35 Wilkins Road Gardner MA 01440

Comment on data supplied:

The company’s correct name is listed below.

Legal Name:

SEAMAN PAPER COMPANY OF MASSACHUSETTS

 

 

Legal Address

35 Wilkins Road Gardner, MA 01440, USA

 

 

Telephone:

+ 1 (978) 632-1513

Document Number :

042184201

Fax:

+ 1 (978) 632-6319

Legal Form:

Corporation for Profit

Email:

NA

Registered in:

Massachussetts

Website:

www.seamanpaper.com

Date Created:

1945

Manager:

George  Jones Iii, President

Date Incorporated:

December 23, 1954

Staff:

100 employees

Stock:

NA

 

 

Value:

NA

Activity:

Manufactures and sells paper products

 

 

BANKS

 

Name of the Bank

Bank of America

 

 

BUSINESS

 

PRINCIPAL ACTIVITY

 

Seaman Paper Company Of Massachusetts, Inc. manufactures and sells paper products in the United States and internationally. It offers jumbo rolls of lightweight specialty papers and industrial grades for paper making; satin wrapping tissues for retail packaging; private label resale gift tissues and gift-wrap programs for consumer products; footwear and apparel packaging for shoes, handbags, and apparel; crepe streamers and folds, arts and crafts tissues, and flame proofing papers for parties, crafts, and schools. The company also provides waxed florist and shredded tissues for gift boxes; bakery tissues and sandwich wrap waxed papers for food service markets; and pear wraps, eggplant, and citrus packing tissues for agriculture markets. In addition, it offers interleaving papers, such as stainless, alloys, copper and brass, plastics, and textiles; industrial grades, including battery, packing, and stuffing tissues; printed OPP films and substrates for flexible packaging; and gemstone tissues. The company distributes products from the United States and Asia. Seaman Paper Company Of Massachusetts, Inc. was founded in 1945 and is based in Otter River, Massachusetts with an additional office in Gardner, Massachusetts.

 

 

Operations area:

 

National, International

The subject employs 100 employee(s)

PAYMENTS

 

regular

Branches:

 

The company's paper mills is located at:

 

51 Main Street

 

Otter River, MA 01436

 

United States

 

 

 




Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

The company's shareholders were not confirmed with the staff.

Management:

 

Joseph Lichwell, Treasurer,

George Jones Iii, President,

Ronald Roy, Credit Manager.

 



Financials - COMMERCIAL TRENDS AND FORECAST

 

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

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

75,000,000

 

Legal Fillings

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

 

1. 

 Filing Number:  201186848990

Filing Date:  03-31-2011

Filing Jurisdiction:  MASSACHUSETTS

Filing History:  Filing Type Filing Date

 

 

 

 

--------------------------------------------------------------------------------

 

Secured Party:  BANC OF AMERICA LEASING & CAPITAL, LLC

Secured Party Address:  1 FINANCIAL PLZ FL 5TH

PROVIDENCE  RI   02903- 2448

 

 

--------------------------------------------------------------------------------

 

Debtor:  SEAMAN PAPER COMPANY OF MASSACHUSETTS, INC.

Debtor Address:  51 MAIN STREET OTTER RIV

BALDWINVILLE  MA   01436

 

 

 

--------------------------------------------------------------------------------

 

2. 

 Filing Number:  201185395170

Filing Date:  01-19-2011

Filing Jurisdiction:  MASSACHUSETTS

Filing History:  Filing Type Filing Date

 

 

 

 

--------------------------------------------------------------------------------

 

Secured Party:  BANC OF AMERICA LEASING & CAPITAL, LLC

Secured Party Address:  1 FINANCIAL PLZ FL 5TH

PROVIDENCE  RI   02903- 2448

 

 

--------------------------------------------------------------------------------

 

Debtor:  SEAMAN PAPER COMPANY OF MASSACHUSETTS, INC.

Debtor Address:  51 MAIN STREET OTTER RIV

BALDWINVILLE  MA   01436

 

 

 

--------------------------------------------------------------------------------

 

3. 

 Filing Number:  201085012410

Filing Date:  12-31-2010

Filing Jurisdiction:  MASSACHUSETTS

Filing History:  Filing Type Filing Date

 

 

 

 

--------------------------------------------------------------------------------

 

Secured Party:  BANC OF AMERICA LEASING & CAPITAL, LLC

Secured Party Address:  1 FINANCIAL PLZ FL 5TH

PROVIDENCE  RI   02903- 2448

 

 

--------------------------------------------------------------------------------

 

Debtor:  SEAMAN PAPER COMPANY OF MASSACHUSETTS, INC.

Debtor Address:  51 MAIN STREET OTTER RIV

BALDWINVILLE  MA   01436

 

 

 

--------------------------------------------------------------------------------

 

4. 

 Filing Number:  201085013020

Filing Date:  12-31-2010

Filing Jurisdiction:  MASSACHUSETTS

Filing History:  Filing Type Filing Date

 

 

 

 

--------------------------------------------------------------------------------

 

Secured Party:  BANC OF AMERICA LEASING & CAPITAL, LLC

Secured Party Address:  1 FINANCIAL PLZ FL 5TH

PROVIDENCE  RI   02903- 2448

 

 

--------------------------------------------------------------------------------

 

Debtor:  SEAMAN PAPER COMPANY OF MASSACHUSETTS, INC.

Debtor Address:  51 MAIN STREET OTTER RIV

BALDWINVILLE  MA   01436

 

 

 

--------------------------------------------------------------------------------

 

5. 

 Filing Number:  201081143280

Filing Date:  06-23-2010

Filing Jurisdiction:  MASSACHUSETTS

Filing History:  Filing Type Filing Date

 

 

 

 

--------------------------------------------------------------------------------

 

Secured Party:  TD EQUIPMENT FINANCE, INC.

Secured Party Address:  2059 SPRINGDALE RD

CHERRY HILL  NJ   08003- 4011

 

 

--------------------------------------------------------------------------------

 

Debtor:  SEAMAN PAPER COMPANY OF MASSACHUSETTS, INC.

Debtor Address:  38 WILKINS RD

GARDNER  MA   01440- 2834

 

 

 

--------------------------------------------------------------------------------

 

 

 

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 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 is a medium established business.

 

We did not find any specific adverse record against the company or its legal representatives.

 

The subject's income is good for the company's size.

 

We believe that the entity can bear a credit line.

 

A business connection can be conducted.

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public Records

NO

 

Indebtedness

CONTROLLED

Payments

REGULAR

 

Cash

NORMAL

 

 

 



ADVISED CREDIT

1,000,000 USD

 

 

 

APPENDIX

 

Comments

 

The receptionist confirmed the information related to the company's activity and location.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.91

UK Pound

1

Rs.73.06

Euro

1

Rs.64.03

 

 

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.