MIRA
INFORM REPORT
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Report Date : |
15.10.2011 |
IDENTIFICATION DETAILS
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Name : |
ICM INC |
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Registered Office : |
310 N 1st St Colwich, KS 67030-9655 |
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Country : |
United States |
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Year of Establishment : |
1995 |
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Legal Form : |
Private Independent |
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Line of Business : |
Agents involved in the sale of a variety of goods |
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 : |
$10,000 (USD) |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
Company name and address
ICM Inc
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Business
Description
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Founded in 1995, ICM is one of the leading, privately held companies
that specializes in the design and construction of ethanol plants. It has
partnerships with the American Wastewater Association, Ethanol Promotion and
Information Council (EPIC), Clean Fuels Development Coalition, Sustainable
Energy Coalition and National Association of Wheat Growers. The company
designs, builds and installs bio-methanators. ICM offers practical solutions
for drying, cooling and conditioning requirements. The company has in-house
fabrication, installation and construction capabilities. Additionally, it
provides 24-hour plant support services. ICM staffs professional designers
and researchers. The company offers gas-fired rotary dryers and thermal
oxidizers. ICM provides on-site computer system maintenance services. |
Industry
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Industry |
Business Services |
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ANZSIC 2006: |
3739 - Other Goods Wholesaling Not
Elsewhere Classified |
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NACE 2002: |
5119 - Agents involved in the sale of a
variety of goods |
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NAICS 2002: |
425120 - Wholesale Trade Agents and
Brokers |
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UK SIC 2003: |
5119 - Agents involved in the sale of a
variety of goods |
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US SIC 1987: |
5153 - Grain and Field Beans |
Key Executives (Emails Available)
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News
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1 - Profit &
Loss Item Exchange Rate: USD 1 = USD 1
2 - Balance Sheet Item Exchange Rate: USD 1 = USD 1
Corporate Overview
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Executives Report
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2011 Directions
Conference Offers NAV Partners Microsoft Dynamics Integrated Solutions
Including Document Management by Altec
PR Web: 28 September 2011
[What follows is the full text of the news story.]
Laguna Hills, CA
(PRWEB) September 28, 2011
Altec Products,
Inc., announced today their Sponsorship of the 2011 Directions Conference,
October 12 -15, 2011 in Orlando, Florida. This channel - driven conference
brings the Microsoft NAV Partner community together in one place, at one time
and for all the right connections. This conference evolved from the imagination
and passion of a small group of Dynamics NAV Partners who launched the first
event in 2005 to bring together all aspects of the NAV Community in a way that
could build connections and help partners succeed. Today, the event has grown
and matured into a unique conference that brings together nearly 500 attendees,
50 Exhibitors and 45 ISVs, as well as key Microsoft executives.
Altec, as a
channel driven company, will showcase the recent 2.7 release of doc-link to the
NAV partner community. doc-link electronically captures, workflows, routes and
archives business documents and reports to reduce handling costs and improve
communication. Combining best practices, state-of-the-art technology, and sound
implementation methods into an affordable package has made doc-link the
document management choice among NAV partners and customers.
�doc-link has
become an integral part of our company�s Dynamics NAV ERP business
processes,ďż˝ states Brandon Spencer, Business Systems Analyst for ICM, Inc.
�We use the integration between the two systems to scrape data, launch
document images directly from NAV, and to automatically capture and index
printed documents.� He added, �Other important doc-link features we use
regularly are Workflow for approving documents, the automatic emailing/faxing
of bulk printed documents, and the automated processing of incoming bar-coded
documents.ďż˝
The recent 2.7
release of doc-link offers enhancements that improve the user experience, as
well as simplify the configuration and installation processes. All end-user
functionality is now consolidated in the doc-link Smart Client, featuring a
modern look and feel with simplified indexing and automated triggers that
streamline the movement of documents through workflow. Users can approve
documents from email on a mobile device, providing greater efficiencies and
flexibility in workflow processes.
Altec will exhibit
at the Welcome Reception on Wednesday, October 12 and the Expo Reception on
Thursday, October 13. They will also present a Partner session on Thursday,
October 13, 2:15 � 3:15 pm, titled �Are Your Clients Drowning in Paper?
Catch the wave of doc-link, Integrated Document Management.ďż˝ More information
is available at http://www.navdirections.com.
About Altec
Altec is a leading
provider of Integrated Document Management (IDM) solutions to mid-market
companies. For more than 25 years, Altec has provided a wide range of
accounting-centric paper to paperless solutions including its flagship product,
doc-linkďż˝, which enables companies to capture, archive, workflow and route
structured and unstructured documents to customers, employees and vendors.
Altec�s comprehensive solutions include IDM, output management, MICR check
disbursement and paper documents that serve more than 13,000 customers
worldwide. Altec enjoys strong, collaborative partnerships with ERP and BMS
solution providers such as Epicor Software, Microsoft Dynamics, Sage Software
and SAP to provide the most comprehensive, integrated enterprise document
management solution to the SMB market. Altec delivers its IDM solutions through
a global network of authorized partners in more than 60 countries throughout
the Americas, EMEA and Asia Pacific. Visit Altec at http://www.altec-inc.com,
or call April Blankenship at 1-800-997-9921.
###
Read the full
story at http://www.prweb.com/releases/2011/9/prweb8830556.htm
Novozymes Pioneers
Food�Energy Venture in Africa
Business Wire: 21 September 2011
[What follows is the full text of the news story.]
Novozymes and
environmental venture group CleanStar Ventures are to jointly establish an
integrated food�energy business in Mozambique that will replace thousands of
charcoal-burning cookstoves with cleaner ethanol stoves. In addition to
safeguarding lives from dangerous charcoal smoke, the business is intended to
increase farmersďż˝ incomes by up to 500%, save thousands of acres of forest
every year, and dramatically reduce greenhouse gas emissions. Bank of America
Merrill Lynch is in advanced discussions to join the venture.
NEW
YORK--(BUSINESS WIRE)-- Today, Novozymes announced its investment in CleanStar
Mozambique at the Clinton Global Initiative Annual Meeting. CleanStar
Mozambique, a company founded by Novozymes and CleanStar Ventures, will work
with smallholder farmers to implement sustainable farming practices, create a
food and ethanol cooking fuel production facility, and lay the groundwork for
economically and ecologically sustainable communities in Sub-Saharan Africa.
The business will address a range of problems, including land degradation, poor
health, and energy poverty.
Clean ethanol
cookstoves: The food-energy venture Cleanstar Mozambique will drastically
improve local incomes, nutrition levels, rehabilitate farmland and produce
cheap ethanol to compete with and replace existing harmful, charcoal-based
cookstoves. (Photo: Business Wire)
�Agriculture in
the developing world holds an enormous potential that can be realized with the
assistance of biotechnology,ďż˝ says Novozymes Executive Vice President Thomas
Nagy. �Through this partnership, local communities in Africa will be able to
produce more food and energy while at the same time improving their health,
restoring forests, cleaning the air, and growing the economy.ďż˝
Cut charcoal smoke
and deforestation
Under CleanStar
Mozambique�s innovative business model, thousands of farmers in Mozambique
will have the opportunity to transition from charcoal production and
slash-and-burn agriculture to cultivating a diverse range of crops and trees,
which will significantly improve their income and nutrition levels while
rehabilitating degraded soils and enhancing biodiversity. Whatever the families
do not consume themselves, they will sell to CleanStar Mozambique. The company
will produce a range of food products as well as an ethanol-based cooking fuel
made from cassava, which will be sold into urban markets.
Throughout Africa,
more than 80% of urban families buy charcoal to cook their food. According to
the World Health Organization (WHO) and United Nations Development Program
(UNDP) there is evidence to suggest that indoor air pollution from solid fuel
use � including charcoal � may be damaging to a person�s health. Charcoal
usage is also a major driver in the mass deforestation across Africa, where
every year hundreds of millions of trees are cleared to produce charcoal. It is
intended that by 2014, CleanStar Mozambique will supply 20% of local households
in Mozambique�s capital Maputo with a clean and competitive alternative to
charcoal, which is intended to improve family health and protect 9,000 acres of
indigenous forest per year.
�This business
model can be replicated and scaled throughout the developing world,ďż˝ says
Thomas Nagy. �With CleanStar Mozambique, we hope to show how biotechnology
can catalyze the development of agriculture, food, and ethanol industries in
developing countries, and create new bio-based markets that benefit local
communities and the environment.ďż˝
CleanStar Ventures
and Novozymes have partnered with a number of other companies in the business.
Most notably, the process design and construction company ICM, Inc. is
providing the food and ethanol cooking fuel production facility. Bank of
America Merrill Lynch is in advanced discussions with Novozymes and CleanStar
Ventures about serving as Carbon Finance Associate in order to help maximize
the monetary value of the project's carbon emission reductions.
FAO: Integrated
food and energy systems reduce poverty
Since President
Bill Clinton established CGI in 2005, the organization has convened global
leaders in government, industry, and nongovernmental organizations to devise
and implement innovative solutions to some of the world�s most pressing
challenges. Each CGI member makes a commitment ďż˝ a concrete proposal to
address a major global challenge ďż˝ and collaborates with other members to
translate that plan into meaningful, measurable results. This is Novozymesďż˝
first CGI commitment.
According to the
Food and Agriculture Organization of the United Nations (FAO), producing food
and energy side-by-side may offer one of the best formulas for boosting
countries' food and energy security while simultaneously reducing poverty.
Read more at
www.cleanstarmozambique.com.
About Novozymes
Novozymes is the
world leader in bioinnovation. Together with customers across a broad array of
industries�we create tomorrow�s industrial biosolutions, improving our
customers' business and the use of our planet's resources.
With over 700
products used in 130 countries, Novozymesďż˝ bioinnovations improve industrial
performance and safeguard the world�s resources by offering superior and
sustainable solutions for tomorrow�s ever-changing marketplace. Read more at
www.novozymes.com.
About CleanStar
Ventures
CleanStar Ventures
is a venture development partnership that leverages innovation to drive social
development and environmental restoration. CleanStar Ventures combines risk
capital, technology, and expertise to create sustainable long-term value for
the customers, partners, and shareholders in its ventures. Read more at
www.cleanstarventures.com
About ICM, Inc.
Established in
1995 and headquartered in Colwich, Kansas, ICM, Inc. provides innovative
technologies, solutions, and services to sustain agriculture and advance
renewable energy, including food and feed technologies that will increase the
supply of world protein. By providing proprietary process technology to 102
facilities with a combined production capacity of approximately 6.7 billion
gallons of annual ethanol production, ICM has become a world leader in
biorefining technology. The full-service provider also offers a comprehensive
line of more than 100 products and services tailored to make biofuels
production more efficient and more profitable. ICM is further upholding its
responsibility as an industry leader by heavily investing in the continued
advancement of renewable energy technologies. In an effort to speed that
advance, ICM has been conducting research and testing at its two
state-of-the-art research facilities in Colwich, KS, and St. Joseph, MO, in
conjunction with a growing list of strategic partners spanning multiple
industries. For more information, please visit icminc.com.
About Bank of
America
Understanding the
important role it plays in helping clients and communities address climate
change, Bank of America Merrill Lynch continues to establish itself as an
environmental leader in the financial services sector. In 2007, Bank of America
Merrill Lynch embarked on a 10-year, $20 billion business initiative to address
climate change through lending, investments, capital markets activity,
philanthropy, and its own operations. Delivering more than $13 billion in four
years to hundreds of clients in the United States, Canada and markets across
Asia, Europe and Latin America, Bank of America Merrill Lynch is focused on
reducing its environmental footprint while aligning its global financial
products and services to help advance energy efficiency and low-carbon energy
markets, including wind, solar, biomass, nuclear and other emerging
technologies.
Bank of America is
one of the world's largest financial institutions, serving individual
consumers, small- and middle-market businesses and large corporations with a full
range of banking, investing, asset management and other financial and risk
management products and services. The company provides unmatched convenience in
the United States, serving approximately 58 million consumer and small business
relationships with approximately 5,700 retail banking offices and approximately
17,800 ATMs and award-winning online banking with 30 million active users. Bank
of America is among the world's leading wealth management companies and is a
global leader in corporate and investment banking and trading across a broad
range of asset classes, serving corporations, governments, institutions and
individuals around the world. Bank of America offers industry-leading support
to approximately 4 million small business owners through a suite of innovative,
easy-to-use online products and services. The company serves clients through
operations in more than 40 countries. Bank of America Corporation stock (NYSE:
BAC) is a component of the Dow Jones Industrial Average and is listed on the New
York Stock Exchange.
Bank of America
Merrill Lynch is the marketing name for the global banking and global markets
businesses of Bank of America Corporation. Lending, derivatives, and other
commercial banking activities are performed globally by banking affiliates of
Bank of America Corporation, including Bank of America, N.A., member FDIC.
Securities, strategic advisory, and other investment banking activities are
performed globally by investment banking affiliates of Bank of America
Corporation (�Investment Banking Affiliates�), including, in the United
States, Merrill Lynch, Pierce, Fenner & Smith Incorporated, which is a
registered broker-dealer and member of FINRA and SIPC, and, in other
jurisdictions, a locally registered entity. Investment products offered by
Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not
Bank Guaranteed.
For more Bank of
America news, visit the Bank of America newsroom.
About the Clinton
Global Initiative
Established in
2005 by President Bill Clinton, the Clinton Global Initiative (CGI) convenes
global leaders to devise and implement innovative solutions to some of the
world�s most pressing challenges. Since 2005, CGI Annual Meetings have
brought together nearly 150 current and former heads of state, 18 Nobel Prize
laureates, hundreds of leading CEOs, heads of foundations, major
philanthropists, directors of the most effective nongovernmental organizations,
and prominent members of the media. These CGI members have made more than 2,000
commitments, which have already improved the lives of 300 million people in
more than 180 countries. When fully funded and implemented, these commitments
will be valued in excess of USD 63 billion. The 2011 Annual Meeting will take
place Sept. 20�22 in New York City.
This year, CGI
also convened CGI America, a meeting focused on developing ideas for driving
economic growth in the United States. The CGI community also includes CGI U,
which hosts an annual meeting for undergraduate and graduate students, and CGI
Lead, which engages a select group of young CGI members for leadership
development and collective commitment-making. For more information, visit
www.clintonglobalinitiative.org.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6868905&lang=en
Novozymes
Johan Melchior, +45 3077 0690
jmel@novozymes.com
Source: Novozymes
EDITORIAL:
Lifeline a model of success
St. Joseph News-Press (MO): 27 July 2011
[What follows is the full text of the news story.]
July 27--Ten years
ago, the proposal seemed admirable, if not entirely plausible, to a region
shell-shocked by layoffs and a struggling farm economy.
A farmer
cooperative based in Northeast Kansas revealed it had bought the former Quaker
Oats facility and would use it to process locally grown crops into food
products. Founders named the new venture Lifeline Foods.
In 2011, the name
proves spot on. Lifeline Foods has rescued a doomed facility and holds out
opportunity for employees and farmer-investors. We join the company in celebrating
its 10th anniversary this week.
Since Quaker Oats
rattled St. Joseph with its closure, Lifeline has demonstrated what can be
achieved when you combine hard work with a can-do attitude and aren't afraid to
take a few risks.
The
farmer-investors were willing to start small. They gradually built up the
business of processing local grain into food, livestock feed and industrial
products for clients in the United States and around the world. In the past 10
years, they've grown from 350 owners to more than 600.
Lifeline also
branched into ethanol, in 2006, with an innovative partnership with ICM Inc. to
make fuel using what might otherwise be a waste product from grain processing. This
business model is at the heart of the company's philosophy of transforming
things overlooked by others into valuable and marketable products.
Lifeline is a
homegrown gem and we look forward to seeing what the company will do the next
10 years and beyond.
___
To see more of the
St. Joseph News-Press or to subscribe to the newspaper, go to
http://www.stjoenews-press.com/.
Copyright (c)
2011, St. Joseph News-Press, Mo.
Distributed by
McClatchy-Tribune Information Services.
For more
information about the content services offered by McClatchy-Tribune Information
Services (MCT), visit www.mctinfoservices.com, e-mail
services@mctinfoservices.com, or call 866-280-5210 (outside the United States,
call +1 312-222-4544)
Lifeline Foods
observes first decade in St. Joseph
St. Joseph News-Press (MO): 27 July 2011
[What follows is the full text of the news story.]
July 27--Lifeline
Foods took time Tuesday to mark a milestone as a regional leader in its sector
of Missouri agribusiness.
Now 10 years old,
the St. Joseph company is throwing a two-day picnic this week for employees,
leaders and supporters. It's a thanks that new chief executive officer Robin M.
Venn deemed as proper recognition for staff efforts.
Lifeline moved
into the former Quaker Oats building in June 2001. Quaker ended its 75-year run
in St. Joseph the prior month. Ironically, employees of the former plant held
their first large-scale reunion six weeks ago.
Mr. Venn -- who
became Lifeline's CEO in mid-June -- attributed the company's success to a shared
focus on food products and alternative fuel.
The company
produces and delivers corn processed into food, ethanol, animal feeds and
industrial products. The private firm is 49 percent owned by ICM Inc. and 51
percent owned by AgraMarke Quality Grains. ICM is involved in ethanol
production at the facility, while AgraMarke is a grower-owned association
marketing grain food products such as corn meal and corn flour.
The dual business
model has been crucial to Lifeline's longevity, Mr. Venn said. AgraMarke boasts
of membership in 27 rural counties throughout the region.
"The farmers
had a vision," he said, referring to AgraMarke's founding in the late
1990s. "There's pride. People take more ownership. You're tied to the
farmers. The 25 million bushels of corn we buy comes from around here."
A wealth of
experience spread among the company's employees -- along with commitment,
passion and community ties -- have all led to Lifeline's achievements, Mr. Venn
said.
"That's why
you're here for 10 years," he said.
Missouri's ethanol
industry remains strong, he added, even with the economy's current challenges
to biodiesel plants in general.
"It's still a
viable business," Mr. Venn said of alternative fuels.
The focus is
shifting to concern over shrinking government funds to assist the ethanol
industry, due to the volatile federal budget climate.
"Now you're
hearing about limiting everything," Mr. Venn said.
The company wants
to grow and hire more workers, he said.
The Missouri Corn
Growers Association also participated in Lifeline's celebration.
"We love the
fact that it's bringing demand and providing a cooperative ownership
model," said Ashley McCarty, an MCGA field services representative.
"Lifeline's persevered through some pretty lean times."
All six of
Missouri's active ethanol plants are majority farmer-owned enterprises,
according to Ms. McCarty.
A delegation from
the St. Joseph Metro Chamber attended the picnic. President and chief executive
officer Ted Allison praised Lifeline's diverse approach and outlook for the
future.
"This is a
company that has filled a void," he said. "We're glad to see them
continue to do well. They've certainly taken advantage of what was a loss for
the community and turned it into a positive."
Two 10-year
Lifeline employees reflected on their experience with the company. Robynn
Atkison said there have been opportunities she might never have encountered.
"We've went
through a ton of changes," she said.
Charlie Jackson
worked for 28 years at Quaker Oats before joining Lifeline.
"There were a
lot of long hours, a lot of hard work, because we had just a few people,"
Mr. Jackson said of the company's beginnings. "I think we got our foot in
the door ... And I think we will grow."
Another work shift
will be treated to the picnic on Thursday, officials said. The facility has a
complement of 130 employees.
Ray Scherer can be
reached at ray.scherer@newspressnow.com.
___
To see more of the
St. Joseph News-Press or to subscribe to the newspaper, go to
http://www.stjoenews-press.com/.
Copyright (c)
2011, St. Joseph News-Press, Mo.
Distributed by
McClatchy-Tribune Information Services.
For more
information about the content services offered by McClatchy-Tribune Information
Services (MCT), visit www.mctinfoservices.com, e-mail
services@mctinfoservices.com, or call 866-280-5210 (outside the United States,
call +1 312-222-4544)
Croatia's Osijek
City Says U.S. Co Plans To Invest in Local Ethanol Factory Project
SeeNews: 24 May 2011
[What follows is the full text of the news story.]
ZAGREB (Croatia),
May 24 (SeeNews) - U.S company ICM Inc. plans to build an ethanol factory in
Osijek, in eastern Croatia, the city said.
Construction is
expected to begin on August 11 and should be completed within a year, the city
of Osijek said in a statement posted on its website.
The operation of
the factory would require 450,000 tonnes of maize annually, the statement
added. It provided no investment or annual output figures.
,
Source:
Missouri becomes
focus of drive for energy crops
Kansas City Star (MO): 05 May 2011
[What follows is the full text of the news story.]
May 05--A farmers'
cooperative near Warrensburg, Mo., could help decide the fate of President
Barack Obama's plans to produce more cellulosic-based biofuels to curb oil
imports.
The U.S.
Department of Agriculture plans to announce today that the Show Me Energy
Cooperative will get the first grant in a federal program to determine whether
U.S. farmers are interested in growing large quantities of switchgrass or other
such energy crops.
The Obama
administration wants U.S. farmers to harvest enough cellulosic crops to produce
16 billion gallons of ethanol a year. That would displace about 7 percent of gasoline
supplies and help hold down fuel prices.
In an interview
with The Star, Secretary of Agriculture Tom Vilsack said the country needs to
move quickly to meet that goal. The Missouri cooperative was picked in part, he
said, because it already encourages farmers to provide alternative crops.
"This is
vital," he said. "It's essential to show that this is going to
work."
Show-Me Energy
will get $15 million. The money will help farmers in 38 counties in Missouri
and Kansas cover some costs of planting seed that will grow into perennial
crops to be used as feedstock for ethanol. Switchgrass needs more than a year
to get established.
Initially, 20,000
acres will be planted. Eventually as many as 50,000 acres will be used, to show
that switchgrass can be harvested on a commercial scale, said Steve Flick,
board president of Show Me Energy.
Johnson, Cass,
Henry, Pettis and Lafayette counties in Missouri and Miami and Linn counties in
Kansas are expected to have the most acres devoted to energy crops. Acreage in Clay,
Platte, Wyandotte and Johnson counties in the Kansas City area will be smaller.
To participate,
farmers will not have to be members of the cooperative.
Most ethanol used
today is made with corn, a practice often criticized for possibly causing
higher food prices.
Flick said he's
optimistic that the farmers growing switchgrass will be successful in part
because it can be grown on land not suitable for food crops. Also, younger
farmers are especially excited about raising energy crops.
There are challenges,
including generations-old farm practices that devote grass just for grazing
animals or to making hay. Interest in alternative crops could also be dimmed by
high prices for other commodities, including corn.
"We feel the
pressure," Flick said. "But this is a way to capture our energy
future."
Pilot cellulosic
ethanol plants are already operating, and in the next couple of years larger
ones are expected. But increasingly the biggest concern is providing the
massive amounts of feedstock needed.
A 50-million-gallon-per-year
ethanol plant would need 2,000 tons of switchgrass a day, which would take up
to 200 acres to grow.
"Unless you
have feedstock, you have nothing," said Flick.
In 2007, Show Me
Energy began making pellets out of corn stalks, sawdust and switchgrass that
were sold as fuel for home heating or to utilities to produce electricity. The
cooperative's vision was to diversify the agricultural economy and improve
farmer incomes.
Vilsack said
increasing amounts of energy crops and the economic benefit of having
bio-refineries dotting the landscape provide "an opportunity to reshape
the rural economy."
A shadow on that
outlook is just how much federal help will be available. Fiscal 2011 funding
for the Biomass Crop Assistance Program, which is providing the grant to the
Show Me cooperative, was slashed from more than $400 million to $112 million.
There are doubts that the program will even exist next year.
ICM Inc., which is
building a pilot cellulosic ethanol plant in St. Joseph, had counted on the program
to get more farmers to grow cellulosic crops.
Greg Krissek,
director of government affairs for ICM, said the demise of the federal program
would make things much tougher.
To reach Steve
Everly, call 816-234-4455 or send email to severly@kcstar.com.
___
To see more of The
Kansas City Star, or to subscribe to the newspaper, go to
http://www.kansascity.com.
Copyright (c)
2011, The Kansas City Star, Mo.
Distributed by
McClatchy-Tribune Information Services.
For more
information about the content services offered by McClatchy-Tribune Information
Services (MCT), visit www.mctinfoservices.com, e-mail
services@mctinfoservices.com, or call 866-280-5210 (outside the United States,
call +1 312-222-4544)
ICM shares
progress on flex fuels testing
St. Joseph News-Press (MO): 13 April 2011
[What follows is the full text of the news story.]
April 13--The
efforts of ICM Inc., to create the next generation of ethanol fuel in St.
Joseph received significant national attention Tuesday.
The innovative plant,
located on the Lifeline Foods campus, hosted a tour of U.S. Department of
Agriculture officials traveling through the region. The officials viewed the
ongoing construction of an ICM pilot plant developing cellulosic ethanol. A $25
million federal grant is assisting the project with testing of small-scale
production of fuel made from cellulose material such as switchgrass, sorghum
and corn fiber -- toward commercial applications.
The group included
Judith Canales, administrator of the agency's Rural Business Cooperative
Services; and state-based USDA Rural Development directors with affiliated
officials.
The government
visitors described their meeting with plant management as part of an effort to
support the future of the bioenergy industry.
"We are here
on behalf of President Obama and (Agriculture) Secretary Tom Vilsack, to learn
about this plant," Ms. Canales said.
The visit also
reinforces Mr. Obama's energy policy message, she said, in seeking alternative
and renewable fuel resources -- and thereby reduce dependence on fossil
sources. Jobs are an allied goal, she added.
Ms. Canales said
the officials had also traveled to Jefferson City to meet with industry
stakeholders to consider delivery systems for the new form of ethanol. Current
corn-based ethanol is manufactured at the Lifeline facility.
"We are
wanting to see the delivery system expand for this purpose," she told the
ICM representatives. "We have been on a campaign to promote the
infrastructure development for alternative fuel. We see the answers in the
Midwest."
In terms of jobs,
ICM said it now has 51 contractors from the local area on site. Plans have
called for the hiring of 12 people, with about half already hired for
operations and laboratory analysis.
Greg Krissek, the
company's government affairs director, said ICM intends to hire not quite
double its present number of employees over the next decade as cellulosic
ethanol develops.
"We've built
the first span of the bridge with starch-based ethanol," he said.
"The structure of our company is we build for other companies."
Mr. Krissek
believes a commercial application of cellulosic fuel is about five years away.
"We've
approached it somewhat cautiously," he said. "There has to be a
comfort level of where this will go. We can't predict the future totally ...
Going forward, energy is still a public need. Frankly, our goal is to replace
OPEC (Organization of Petroleum Exporting Countries) oil."
The company --
based in Colwich, Kan., and in business for about 16 years -- remains confident
about its research and development arm in St. Joseph, Mr. Krissek said. ICM
partially owns Lifeline and has provided proprietary technology to 102 ethanol
facilities in North America. The first plant was built in 2001. Lifeline is now
celebrating its 10th anniversary in the city, said chief executive officer Bert
Farrish.
The cellulosic
testing will continue at the pilot plant for the next year, Mr. Krissek said,
with a goal of selling the process to a client in 2012.
He labeled the
firm's success in the industry as due to increased energy efficiency, reduced
use of water, and decreased down time.
"That tends
to be the survivor in the commodity business," he said.
Mr. Farrish told
the officials that 100 percent of the corn kernel is used to make ethanol.
"You get into
this food-versus-fuel debate," he said. "No part of the corn is
wasted."
In response to the
ongoing debate over commodity prices, Ms. Canales said it's regarded that the
American farmer will be able to address the needs of both the food and fuel
industries simultaneously.
"This is
something we are concentrating on at USDA," she told reporters. "Corn
is not the sole answer on fuel.
When we speak
about renewable fuel, it's not exclusive."
Work on the ICM
pilot plant began in 2007, focusing first on starch-based ethanol testing.
Remaining portions of the plant are expected to go fully on line by mid-June.
Ray Scherer can be
reached at ray.scherer@newspressnow.com.
To see more of the
St. Joseph News-Press or to subscribe to the newspaper, go to http://www.stjoenews-press.com/.
Copyright (c)
2011, St. Joseph News-Press, Mo.
Distributed by
McClatchy-Tribune Information Services.
For more
information about the content services offered by McClatchy-Tribune Information
Services (MCT), visit www.mctinfoservices.com, e-mail
services@mctinfoservices.com, or call 866-280-5210 (outside the United States,
call +1 312-222-4544)
U.S. Agriculture
Department gives biofuel research a cash boost
Kansas City Star (MO): 13 April 2011
[What follows is the full text of the news story.]
April 13--The U.S.
Department of Agriculture on Tuesday awarded about 40 grants for biofuel
research, including $586,000 to Kansas State University.
The research
covers areas such as product development and sustainable feedstock production.
Kansas State University, for example, is seeking to produce industrial
chemicals as a co-product of cellulosic ethanol.
"These
projects will give us the scientific information needed to support biofuel
production and create co-products that will enhance the overall value of a
bio-based economy," Agriculture Secretary Tom Vilsack said in a statement.
"This will propel us to out-educate, out-innovate and out-build in the
field of renewable energy and help America win the future."
Three projects in
California will focus on using poplar, switchgrass and sugarcane as a biomass
feedstock to make biofuels. Projects in Michigan will focus on the
environmental impact of feedstock production and pest control in perennial
grasses used as feedstock.
The announcement
came the same day a USDA official toured ICM Inc.'s pilot cellulosic-ethanol
plant in St. Joseph, which intends to use switchgrass, corn fiber and sorghum
to produce fuel when it opens later this year.
Judith Canales, administrator
for the federal agency's Rural Business-Cooperative Service division, is making
stops in Missouri and Kansas, in part to kick off a series of workshops and
events on biofuels. The programs cover information about financial assistance
for energy efficiency and biofuels.
Grants are
available to fuel stations, for instance, to install flexible-fuel dispensers
that can provide fuel blends containing up to 85 percent ethanol.
To reach Steve
Everly, call 816-234-4455 or send email to severly@kcstar.com.
To see more of The
Kansas City Star, or to subscribe to the newspaper, go to
http://www.kansascity.com.
Copyright (c)
2011, The Kansas City Star, Mo.
Distributed by
McClatchy-Tribune Information Services.
For more
information about the content services offered by McClatchy-Tribune Information
Services (MCT), visit www.mctinfoservices.com, e-mail
services@mctinfoservices.com, or call 866-280-5210 (outside the United States,
call +1 312-222-4544)
Standard & Poor’s
|
United
States of America Long-Term Rating Lowered To 'AA+' Due To Political Risks,
Rising Debt Burden; Outlook Negative |
|
Publication
date: 05-Aug-2011 20:13:14 EST |
·
We have lowered our long-term sovereign
credit rating on the United States of America to 'AA+' from 'AAA' and affirmed
the 'A-1+' short-term rating.
·
We have also removed both the short- and long-term ratings
from CreditWatch negative.
·
The downgrade reflects our
opinion that the fiscal consolidation plan that Congress and the Administration
recently agreed to falls short of what, in our view, would be necessary to
stabilize the government's medium-term debt dynamics.
·
More broadly, the downgrade
reflects our view that the effectiveness, stability, and predictability of
American policymaking and political institutions have weakened at a time of
ongoing fiscal and economic challenges to a degree more than we envisioned when
we assigned a negative outlook to the rating on April 18, 2011.
·
Since then, we have changed our
view of the difficulties in bridging the gulf between the political parties
over fiscal policy, which makes us pessimistic about the capacity of Congress
and the Administration to be able to leverage their agreement this week into a
broader fiscal consolidation plan that stabilizes the government's debt
dynamics any time soon.
·
The outlook on the long-term
rating is negative. We could lower the long-term rating to 'AA' within the next
two years if we see that less reduction in spending than agreed to, higher
interest rates, or new fiscal pressures during the period result in a higher
general government debt trajectory than we currently assume in our base case.
TORONTO (Standard &
Poor's) Aug. 5, 2011--Standard & Poor's Ratings Services said today that it
lowered its long-term sovereign credit rating on the United States of America
to 'AA+' from 'AAA'. Standard & Poor's also said that the outlook on the
long-term rating is negative. At the same time, Standard & Poor's affirmed
its 'A-1+' short-term rating on the U.S. In addition, Standard & Poor's
removed both ratings from CreditWatch, where they were placed on July 14, 2011,
with negative implications.
The transfer and
convertibility (T&C) assessment of the U.S.--our assessment of the
likelihood of official interference in the ability of U.S.-based public- and
private-sector issuers to secure foreign exchange for
debt service--remains
'AAA'.
We lowered our long-term
rating on the U.S. because we believe that the prolonged controversy over
raising the statutory debt ceiling and the related fiscal policy debate
indicate that further near-term progress containing the growth in public
spending, especially on entitlements, or on reaching an agreement on raising
revenues is less likely than we previously assumed and will remain a
contentious and fitful process. We also believe that the fiscal consolidation
plan that Congress and the Administration agreed to this week falls short of
the amount that we believe is necessary to stabilize the general government
debt burden by the middle of the decade.
Our lowering of the
rating was prompted by our view on the rising public debt burden and our
perception of greater policymaking uncertainty, consistent with our criteria
(see "Sovereign Government Rating Methodology and
Assumptions ," June 30, 2011, especially Paragraphs 36-41).
Nevertheless, we view the U.S. federal government's other economic, external,
and monetary credit attributes, which form the basis for the sovereign rating,
as broadly unchanged.
We have taken the ratings
off CreditWatch because the Aug. 2 passage of the Budget Control Act Amendment
of 2011 has removed any perceived immediate threat of payment default posed by
delays to raising the government's debt ceiling. In addition, we believe that
the act provides sufficient clarity to allow us to evaluate the likely course
of U.S. fiscal policy for the next few years.
The political
brinksmanship of recent months highlights what we see as America's governance
and policymaking becoming less stable, less effective, and less predictable
than what we previously believed. The statutory debt ceiling and the threat of
default have become political bargaining chips in the debate over fiscal
policy. Despite this year's wide-ranging debate, in our view, the differences
between political parties have proven to be extraordinarily difficult to
bridge, and, as we see it, the resulting agreement fell well short of the
comprehensive fiscal consolidation program that some proponents had envisaged
until quite recently. Republicans and Democrats have only been able to agree to
relatively modest savings on discretionary spending while delegating to the
Select Committee decisions on more comprehensive measures. It appears that for
now, new revenues have dropped down on the menu of policy options. In addition,
the plan envisions only minor policy changes on Medicare and little change in
other entitlements,
the containment of which
we and most other independent observers regard as key to long-term fiscal
sustainability.
Our opinion is that
elected officials remain wary of tackling the structural issues required to
effectively address the rising U.S. public debt burden in a manner consistent
with a 'AAA' rating and with 'AAA' rated sovereign peers (see Sovereign Government Rating Methodology and Assumptions,"
June 30, 2011, especially Paragraphs 36-41). In our view, the difficulty in
framing a consensus on fiscal policy weakens the government's ability to manage
public finances and diverts attention from the debate over how to achieve more
balanced and dynamic economic growth in an era of fiscal stringency and
private-sector deleveraging (ibid). A new political consensus might (or might
not) emerge after the 2012 elections, but we believe that by then, the
government debt burden will likely be higher, the needed medium-term fiscal
adjustment potentially greater, and the inflection point on the U.S.
population's demographics and other age-related spending drivers closer at hand
(see "Global Aging 2011: In The U.S., Going Gray Will Likely
Cost Even More Green, Now," June 21, 2011).
Standard & Poor's
takes no position on the mix of spending and revenue measures that Congress and
the Administration might conclude is appropriate for putting the U.S.'s
finances on a sustainable footing.
The act calls for as much
as $2.4 trillion of reductions in expenditure growth over the 10 years through
2021. These cuts will be implemented in two steps: the $917 billion agreed to
initially, followed by an additional $1.5 trillion that the newly formed
Congressional Joint Select Committee on Deficit Reduction is supposed to
recommend by November 2011. The act contains no measures to raise taxes or
otherwise enhance revenues, though the committee could recommend them.
The act further provides
that if Congress does not enact the committee's recommendations, cuts of $1.2
trillion will be implemented over the same time period. The reductions would
mainly affect outlays for civilian discretionary spending, defense, and
Medicare. We understand that this fall-back mechanism is designed to encourage
Congress to embrace a more balanced mix of expenditure savings, as the
committee might recommend.
We note that in a letter
to Congress on Aug. 1, 2011, the Congressional Budget Office (CBO) estimated
total budgetary savings under the act to be at least $2.1 trillion over the
next 10 years relative to its baseline assumptions. In updating our own fiscal
projections, with certain modifications outlined below, we have relied on the
CBO's latest "Alternate Fiscal Scenario" of June 2011, updated to
include the CBO assumptions contained in its Aug. 1 letter to Congress. In
general, the CBO's "Alternate Fiscal Scenario" assumes a continuation
of recent Congressional action overriding existing law.
We view the act's
measures as a step toward fiscal consolidation. However, this is within the
framework of a legislative mechanism that leaves open the details of what is
finally agreed to until the end of 2011, and Congress and the Administration
could modify any agreement in the future. Even assuming that at least $2.1
trillion of the spending reductions the act envisages are implemented, we
maintain our view that the U.S. net general government debt burden (all levels
of government combined, excluding liquid financial assets) will likely continue
to grow. Under our revised base case fiscal scenario--which we consider to be
consistent with a 'AA+' long-term rating and a negative outlook--we now project
that net general government debt would rise from an estimated 74% of GDP by the
end of 2011 to 79% in 2015 and 85% by 2021. Even the projected 2015 ratio of
sovereign indebtedness is high in relation to those of peer credits and, as
noted, would continue to rise under the act's revised policy settings.
Compared with previous
projections, our revised base case scenario now assumes that the 2001 and 2003
tax cuts, due to expire by the end of 2012, remain in place. We have changed our
assumption on this because the majority of Republicans in Congress continue to
resist any measure that would raise revenues, a position we believe Congress
reinforced by passing the act. Key macroeconomic assumptions in the base case
scenario include trend real GDP growth of 3% and consumer price inflation near
2% annually over the decade.
Our revised upside
scenario--which, other things being equal, we view as consistent with the
outlook on the 'AA+' long-term rating being revised to stable--retains these
same macroeconomic assumptions. In addition, it incorporates $950 billion of
new revenues on the assumption that the 2001 and 2003 tax cuts for high earners
lapse from 2013 onwards, as the Administration is advocating. In this scenario,
we project that the net general government debt would rise from an estimated
74% of GDP by the end of 2011 to 77% in 2015 and to 78% by 2021.
Our revised downside
scenario--which, other things being equal, we view as being consistent with a
possible further downgrade to a 'AA' long-term rating--features less-favorable
macroeconomic assumptions, as outlined below and also assumes that the second
round of spending cuts (at least $1.2 trillion) that the act calls for does not
occur. This scenario also assumes somewhat higher nominal interest rates for
U.S. Treasuries. We still believe that the role of the U.S. dollar as the key
reserve currency confers a government funding advantage, one that could change
only slowly over time, and that Fed policy might lean toward continued loose
monetary policy at a time of fiscal tightening. Nonetheless, it is possible
that interest rates could rise if investors re-price relative risks. As a
result, our alternate scenario factors in a 50 basis point (bp)-75 bp rise in
10-year bond yields relative to the base and upside cases from 2013 onwards. In
this scenario, we project the net public debt burden would rise from 74% of GDP
in 2011 to 90% in 2015 and to 101% by 2021.
Our revised scenarios
also take into account the significant negative revisions to historical GDP
data that the Bureau of Economic Analysis announced on July 29. From our
perspective, the effect of these revisions underscores two related points when
evaluating the likely debt trajectory of the U.S. government. First, the revisions
show that the recent recession was deeper than previously assumed, so the GDP
this year is lower than previously thought in both nominal and real terms.
Consequently, the debt burden is slightly higher. Second, the revised data
highlight the sub-par path of the current economic recovery when compared with
rebounds following previous post-war recessions. We believe the sluggish pace
of the current economic recovery could be consistent with the experiences of
countries that have had financial crises in which the slow process of debt
deleveraging in the private sector leads to a persistent drag on demand. As a
result, our downside case scenario assumes relatively modest real trend GDP
growth of 2.5% and inflation of near 1.5% annually going forward.
When comparing the U.S.
to sovereigns with 'AAA' long-term ratings that we view as relevant
peers--Canada, France, Germany, and the U.K.--we also observe, based on our
base case scenarios for each, that the trajectory of the U.S.'s net public debt
is diverging from the others. Including the U.S., we estimate that these five
sovereigns will have net general government debt to GDP ratios this year
ranging from 34% (Canada) to 80% (the U.K.), with the U.S. debt burden at 74%.
By 2015, we project that their net public debt to GDP ratios will range between
30% (lowest, Canada) and 83% (highest, France), with the U.S. debt burden at
79%. However, in contrast with the U.S., we project that the net public debt
burdens of these other sovereigns will begin to decline, either before or by
2015.
Standard & Poor's
transfer T&C assessment of the U.S. remains 'AAA'. Our T&C assessment
reflects our view of the likelihood of the sovereign restricting other public
and private issuers' access to foreign exchange needed to meet debt service.
Although in our view the credit standing of the U.S. government has
deteriorated modestly, we see little indication that official interference of
this kind is entering onto the policy agenda of either Congress or the
Administration. Consequently, we continue to view this risk as being highly
remote.
The outlook on the
long-term rating is negative. As our downside alternate fiscal scenario
illustrates, a higher public debt trajectory than we currently assume could lead
us to lower the long-term rating again. On the other hand, as our upside
scenario highlights, if the recommendations of the Congressional Joint Select
Committee on Deficit Reduction--independently or coupled with other
initiatives, such as the lapsing of the 2001 and 2003 tax cuts for high
earners--lead to fiscal consolidation measures beyond the minimum mandated, and
we believe they are likely to slow the deterioration of the government's debt
dynamics, the long-term rating could stabilize at 'AA+'.
On Monday, we
will issue separate releases concerning affected ratings in the funds,
government-related entities, financial institutions, insurance, public finance,
and structured finance sectors.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.07 |
|
|
1 |
Rs.77.42 |
|
Euro |
1 |
Rs.67.72 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.