MIRA INFORM REPORT

 

 

Report Date :

11.04.2012

 

IDENTIFICATION DETAILS

 

Name :

GLOBAL THERMOELECTRIC INC

 

 

Registered Office :

#9, 3700 - 78th Avenue SE, Calgary, Alberta, Canada T2C 2L8.

 

 

Country :

Canada

 

 

Year of Establishment :

1975

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Develops, Manufactures and Integrates Remote Power Generation Systems.

 

 

No. of Employees :

120

 

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 200,000

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 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Canada

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GEOPOLITICS – CANADA

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: 100.00 CAD = 99.7012 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Legal Name:

Global Thermoelectric Inc

 

 

Legal Address

#9, 3700 - 78th Avenue SE, Calgary, Alberta, Canada T2C 2L8.

Operative Address

#9, 3700 - 78th Avenue SE, Calgary, Alberta, Canada T2C 2L8.

Telephone:

+1 (403) 236-5556

ID :

NA

Fax:

+1 (403) 236-5575

Legal Form:

Corporation for Profit

Email:

NA

Registered in:

Canada

Website:

www.globalte.com

Date Created:

1975

Manager:

Mr. Peter Garrett, CEO & President.

Date Incorporated:

NA

Staff:

120

Stock:

NA

 

 

Value:

NA

Activity:

Develops, Manufactures and Integrates Remote Power Generation Systems.

 

 

BUSINESS

 

HISTORY

 

In 1975, Global's founders, a group of entrepreneurs from the oil and gas industry, purchased thermoelectric technology from 3M. This technology was developed for NASA's Apollo program and was actually used to generate power on the moon.

 

After adapting the technology to apply to oil and gas and telecom markets in Alberta, Global's business really took off. In fact, it quickly became the world standard for remote power generation systems. From the first few installations in Canada, Global's Thermoelectric Generators (TEGs) were regularly used in the following industries: Gas pipelines, Wellheads, Offshore platforms, Telecommunications, Security and surveillance and monitoring.

 

To date there have been more than 20,000 Global Thermoelectric TEGs installed in 50 countries.

 

Its success with TEGs soon led to the development and integration of other remote power products. Global can now provide remote power systems where TEGs are not ideal, including larger loads and liquid fueled systems.

 

The company offers solutions based on industrial gensets, hybrids, photovoltaics, grid-connected systems and combined heat and power systems. It constantly monitors new power technologies and works with partners to integrate them into the world's best remote power systems.

PRINCIPAL ACTIVITY

 

Global Thermoelectric, Inc. engages in the development, manufacture, and integration of remote power generation systems for remote industrial applications.

Products/Services description:

 

Its products include GlobalTEG, a thermoelectric generator; GlobalCharge, a cycle charger; GlobalSolarHybrid, a photo voltaic system; GlobalPrimeGen systems for larger loads; GlobalRectifiers, such as air cooled, benchmark and utility air series, and CP sentinel series; and GlobalStation, a self-contained remote site station.

 

The company’s products also comprise batteries and accessories, including power conditioning inverters/converters, control enclosures and systems, and shelters, as well as AC and DC power distribution, heat recovery, fuel conditioning, and auto and manual cathodic protection systems.

Sales are:

 

Wholesale

Clients:

 

Its products are used for applications in oil or gas pipelines, well sites, offshore platforms, telecommunications sites, well automations, monitoring equipment, navigational aids, communications systems, wellheads, security, and surveillance.

 

Global Thermoelectric sells its products through authorized sales representatives in Canada and internationally.

Operations area:

 

National, International

The company imports from Worldwide, depending on demand.

The company exports to Worldwide, depending on demand.

The subject employs 120 employee(s)

Comments on staff:

 

This information was not verified by the company.

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company is headquartered at 9, 3700 - 78th Avenue SE Calgary, Alberta, Canada T2C 2L8.



Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

Despite our long searches we could not identify the names of the main shareholders.

 

Its main managers could be shareholders of the subject.

 

However, this information was not verified with the person contacted.

Management:

 

Mr. Peter Garrett, CEO & President.

Paul A. Crilly, CFO & Vice President - Finance.

 

This information was not verified by the person contacted.

Related Companies:

 

Global Thermoelectric - U.S. Office

 

P.O. Box 38624

Houston, TX  77238

Phone: (281) 445-1515

Fax: (281) 445-6060

Toll Free: 1-800-848-4113

 

 

Global Thermoelectric - Russia and CIS Office

 

Post code; 127055 Sushevskaya street, 12

Moscow, Russia

Phone: +7 495 727 5976

Fax: +7 495 748 7989

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted the a female representative who refused to provide us any financial data on grounds of confidentiality.

However our financial sources could provide us with the following data (estimates):

Currency

DATE

 

USD

2009

 

Turnover

13,792,680

 

 

Comments on the financial data: As of today, our financial sources could not access to the latest financial statement of the company.

However, they estimate that the annual revenues of the company would still remain in the range of CAD 10,000,000.- and CAD 20,000,000.-

The figures were not been disclosed by the company. They were conciliated with our private sources and from a particular market approach regarding the subject´s scope of business.

Legal Fillings

 The sources consulted record no detrimental legal or labor court information.



 Rating

 

Local credit bureau gave a Correct credit rate.

 

 

 Final Opinion

 

This medium sized company has over 35 years of experience in its industry.

 

It is managed by very experienced people which inspires much more confindence on it.

 

It seems to adjust to regular payment terms.

 

A credit line may be considered for USD 200,000.-

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

 

Profitability

N.A.

Public

NO

 

Indebtedness

N.A.

Payments

REGULAR

 

Cash

NORMAL

 

 

 

 

 

APPENDIX

 

Position

 

Female Representative.

Comments

 

She refused to provide us with any kind of information on her company on grounds of confidentiality.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.20

UK Pound

1

Rs.81.50

Euro

1

Rs.67.15

 

 

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.