MIRA INFORM REPORT

Report Date :

19.09.2011

IDENTIFICATION DETAILS

Correct Name :	AMERICAN CERTIFIED EQUIPMENT INC (VALVEWORKS USA)
Registered Office :	1650 Swan Lake Rd, Bossier City, LA 71111
Country :	United States
Year of Establishment :	1994
Legal Form :	Corporation for Profit
Line of Business :	Construction and Mining (except Oil Well) Machinery and Equipment Merchant Wholesaler.

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 :	USD 750,000
Status :	Satisfactory
Payment Behaviour :	No Complaints
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 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
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: Normal	Currency: USD Branch Situation: Stable

IDENTIFICATION
Legal Name:	American Certified Equipment INC (Valveworks USA)
Trade Name:	Valveworks USA
Legal Address	1650 Swan Lake Rd, Bossier City, LA 71111, USA
Telephone:	+1 (318) 425-0266	ID :	34442417 D
Fax:	+1 (318) 425-0934	Legal Form:	Corporation for Profit
Email:	sales@valveworksusa.com	Registered in:	Louisiana
Website:	http://www.valveworksusa.com	Date Created:	1994
Manager:	Rick Roberts, President	Date Incorporated:	August 27th 1993
Staff:	150	Stock:	NA
		Value:	NA
Activity:	Construction and Mining (except Oil Well) Machinery and Equipment Merchant Wholesaler.

BANKS
Name of the Bank	COMMUNITY TRUST BANK
BUSINESS
HISTORY
	The company was created in 1994.
PRINCIPAL ACTIVITY
	Construction and Mining (except Oil Well) Machinery and Equipment Merchant Wholesaler.
Products/Services description:
	The company wholesales construction & mining machinery & equipment Petroleum processing machinery, Petroleum distilling and processing machinery and equipment, Hydrotreating machinery, Building and Construction Machinery and Accessories.
Sales are:
	Wholesale
Clients:
	Profesionals of the industry
Operations area:
	National
PAYMENTS
	Regular
LOCATION
Headquarters
	The company is headquartered at 1650 Swan Lake Rd, Bossier City, LA 71111, USA
Branches:
	2815 S. 171 st, New Berlin, WI 53151, USA

Shareholders - Manager - Related Companies
Listed at the stock exchange:
	NO
Shareholders Parent Company(ies):
	This is a private company. Mr Rick Roberts is the main shareholder.
Management:
	Rick Roberts, President Brian Christy, Quality Control Jason Mason, Order Administration Mark Spataro, Shipping Management Brian Furqueron, VP Marketing Administration & Accounting Dustin Clinton, Inside Sales Todd Roberts, Engineering Manager Brent McCormick, Wellhead Systems Division Manager Kirk Spataro, Customer Support/Product Manager
Related Companies:
	The company has affiliates in China and India.
Financials - COMMERCIAL TRENDS AND FORECAST
As a private company the subject does not publish any financial statements.
We have contacted Kirk Clunie, Accounts Payables Manager who provided us with the following data:
Currency		DATE
USD		2010
Turnover		50,000,000
The cash flow is		NORMAL

Legal Fillings

There are several UCCs files listed with the Secretary of State of Lousiana.

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 Correct credit rate. The company is in Good Standing. This means that all local and federal taxes were paid on due date.
Final Opinion
	The subject is a medium sized US company as it currently has an estimated staff of 150 employees. It was incorporated for business in 1994. Therefore, it has more than 16 years of experience. AMERICAN CERTIFIED EQUIPMENT INC is a Construction and Mining (except Oil Well) Machinery and Equipment Merchant Wholesalers company located in Louisiana, USA. It also operates in India and China. There were no legal filings found against the company or its legal representatives. Credit line may be considered for USD 750,000-.

SUMMARY
FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	CORRECT	Public Records	NO
Indebtedness	CONTROLLED	Payments	REGULAR
Cash	NORMAL

APPENDIX
Person Interviewed
	Kirk Clunie
Position
	Accounts Payables Manager
Comments
	The person we contacted provided us with the following information: Address Phone Creation date President Shareholder Employees 2010 Sales Banks information Payment to suppliers

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.47.47
UK Pound	1	Rs.74.96
Euro	1	Rs.65.79

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.