MIRA INFORM REPORT
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Report Date : |
28.05.2011 |
IDENTIFICATION DETAILS
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Name : |
A AND I PRODUCTS, INC. |
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Registered Office : |
1020 22nd Ave, PO Box 8, Rock Valley, IA 51247-1442 |
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Country : |
United States |
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Date of Incorporation : |
01.10.1987 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Farm Machinery 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 : |
1,000,000 USD |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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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 – 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: |
A And I Products |
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Address in the order: |
1020, 22nd Ave, P O Box 8, Rock Valley, IA 51247 |
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Legal Name: |
A and I PRODUCTS, INC. |
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Legal Address |
1020 22nd Ave, PO Box 8, Rock Valley, IA 51247-1442, USA |
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Telephone: |
+ 1 (712) 476-5119 |
Document Number : |
117204 |
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Fax: |
+ 1 (712) 476-5401 |
Legal Form: |
Corporation for Profit |
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Email: |
pix@aiproducts.com |
Registered in: |
Iowa |
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Website: |
www.aiproducts.com |
Date Created: |
NA |
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Manager: |
Anden Van Beek, President |
Date Incorporated: |
October 01, 1987 |
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Staff: |
270 employees |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Farm machinery equipment
manufacturing |
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BANKS
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Name of the Bank |
American State Bank |
BUSINESS
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HISTORY |
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Anden Van Beek began the business by working in his father’s repair
shop. His experience operating the various machining equipment available
proved invaluable when, in 1980, he began manufacturing replacement parts for
tractors and combines. Soon a reputation for high quality parts at a
reasonable price was established. That reputation continues today. In 1991 his burgeoning business became A&I Products, employing a
staff of 27 people. Soon business growth necessitated the purchase of
property and the construction of a new machine shop, as well as an office &
warehouse complex. Another warehouse was built in Rock Valley, IA adjacent to
the existing warehouse in 2001 and was expanded in 2004 and again in 2008.
Today the three buildings occupy over 460,000 square feet. Currently over
55,000 different parts are distributed through a network of over 12,000
distributing dealers. |
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PRINCIPAL ACTIVITY |
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A&I Products is a private company located in Iowa. The subject's main line of business is wholesaler of agricultural and
industrial products. A&I Products is also a manufactures and wholesales and distributes
replacement parts for the agricultural, landscaping, and industrial markets. A&I Products' twenty-five years of expertise has made the company
well established. Anden Van Beek is the company's President. The subject is mainly selling in North America |
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Sales are: |
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Wholesale |
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Operations area: |
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National, International |
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The subject employs 270 employee(s) |
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PAYMENTS |
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regular |
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Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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The Van Beek family is the main shareholder. |
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Management: |
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Anden Van Beek, President. |
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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
(estimates): The 2008 income is believed to
be in the same range with the one in 2009. |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
69,600,000 |
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Operating Income |
3.690,000 |
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Net Income |
3,000,000 |
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Net worth |
1,450,000 |
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Bank liabilities |
280,000 |
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The cash flow is |
good |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
67,500,000 |
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Operating Income |
1,200,000 |
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Net Income |
835,000 |
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Net worth |
2,000,000 |
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Bank liabilities |
500,000 |
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There are no UCC files listed with the
Secretary of State of Iowa. There are no legal filings listed with the
District Court. For information: 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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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. |
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Final
Opinion |
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The company presents correct income. The financial institutions give a just
normal opinion on the company. The subject is well established. This is a medium business. The company's length of payment needs
monitoring. Despite the income reduction, the
company's turnover is still correct for the subject's size. We suggest a review within 10 months to
fully assess the 2010 evolution. |
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SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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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 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.21 |
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UK Pound |
1 |
Rs.74.31 |
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Euro |
1 |
Rs.64.40 |
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.