MIRA INFORM REPORT
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Report Date : |
27.05.2011 |
IDENTIFICATION DETAILS
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Name : |
BEAULIEU OF AMERICA, INC. |
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Registered Office : |
1502 Coronet Dr, Po Box 1248, Dalton Ga 30722-1248 |
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Country : |
United States |
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Date of Incorporation : |
09.09.1977 |
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Com. Reg. No.: |
j501597 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Carpet Manufacturer |
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 : |
1,000,000 USD |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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United States |
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: |
Beaulieu of America Inc |
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Address in the order: |
P O Box 1248, GA 30721,
Dalton 1248 |
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Legal Name: |
BEAULIEU OF AMERICA, INC. |
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Trade Name: |
BLISS FLOORING |
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Legal Address |
1502 CORONET DR PO Box 1248 DALTON GA 30722-1248 |
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Operative Address |
1502 CORONET DR PO Box 1248 DALTON GA 30722-1248 |
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Telephone: |
706-876-2900 |
Registration Number : |
J501597 |
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Fax: |
706-695-6237 |
Legal Form: |
Corporation for Profit |
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Email: |
support@blissflooring.com |
Registered in: |
Georgia |
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Website: |
www.blissflooring.com |
Date Created: |
1978 |
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Manager: |
CARL M. BOUCKAERT - CEO |
Date Incorporated: |
September 9, 1977 |
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Staff: |
5600 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity: |
Carpet manufacturer |
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BANKS
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Name of the Bank |
BANK OF AMERICA |
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Location |
55 S LAKE AVE STE 900 PASADENA
CA 91101 |
BUSINESS
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PRINCIPAL ACTIVITY |
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The company now operates as a carpet manufacturer. |
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Products/Services description: |
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Berber, commercial, and indoor/outdoor (nonwoven, turf) carpet. |
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Sales are: |
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Wholesale |
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Brands: |
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Consumer brands include Bliss, Coronet, and Hollytex. The company produces commercial products under the FashionSmart label,
in collaboration with Armstrong's lineup. |
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Clients: |
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Through its dealers, carpets are distributed to home improvement chains,
including The Home Depot and Lowe's Companies, and commercial contractors. |
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Operations area: |
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National, International |
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The company export to Australia |
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Competitors: |
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- Interface, Inc. - Mohawk Industries, Inc. - Shaw Industries, Inc. |
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The subject employs 5600 employee(s) |
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Comments on staff: |
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The company used to have more than 11,000 employees, but after
experiencing financial problems in 2002, it sold its rug division and its
nylon fiber business and reduced its staff number. |
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LOCATION |
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Headquarters |
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1502 CORONET DR PO Box 1248 DALTON GA 30722 |
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Branches: |
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The company's 30-some facilities operate in North America and
Australia. |
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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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The Beaulieu Group is controlled by the Bouckaert family. |
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Management: |
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Ralph Boe - President and CEO Carl Bouckaert - Chairman of
the Board Del Land - CFO James Lesslie - COO |
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Related Companies: |
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BEAULIEU GROUP, LLC |
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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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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 |
2009 (AT GROUP LEVEL) |
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Turnover |
2,000,000,000 |
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Operating Income |
213,000,000 |
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Net Income |
184,000,000 |
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Net worth |
569,000,000 |
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Bank liabilities |
349,000,000 |
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The cash flow is |
normal |
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Currency |
DATE |
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USD |
2007 |
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Turnover |
1,100,000,000 |
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Legal Fillings |
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There are several UCC** files listed with
the Secretary of State of Georgia. The last annual report was filed on 3/29/2011. In June 2007, the company pleaded guilty
to one count of tax evasion dating to 2000 and had to pay $33.38 million in
back taxes, fines, penalties and court costs. No individuals were criminally
charged. 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
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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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The company has 33 years experience in the
business. It is a large size company which as a
leadership position in its market. After the financial issues of 2002, and
the tax evasion scandal in 2007, the company reduced its work force and
reorganized. The profitability is correct and the
indebtedness is controlled. A credit line may be considered. We suggest following the evolution of the
company. |
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SUMMARY
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Profitability |
CORRECT |
Public Records |
YES |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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ADVISED
CREDIT |
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1,000,000 USD |
APPENDIX
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Comments |
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We called the company but the operator transferred us to an answering
machine. We left a message but so far nobody has returned our call. |
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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.45.29 |
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UK Pound |
1 |
Rs.73.84 |
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Euro |
1 |
Rs.64.18 |
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.