MIRA
INFORM REPORT
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Report Date : |
09.05.2012 |
IDENTIFICATION DETAILS
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Name : |
SOUTH BAY TECHNOLOGY INC |
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Registered Office : |
1120 Via Callejon, Ste A, |
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Country : |
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Year of Establishment : |
1964 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
Subject serves as an independent representative for
companies producing materials and equipment for the semiconductor industry |
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No. of Employees : |
35 |
sRATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 & address
South Bay Technology Inc
1120 Via Callejon
Ste A
Tel: 949-492-2600
Fax: 949-492-1499
Toll Free: 800-728-2233
Web: www.southbaytech.com
Synthesis
Employees: 35
Company Type: Private Independent
Incorporation Date: 1964
Financials in: USD (Millions)
Reporting Currency: US
Dollar
Annual Sales: 10.0
Total Assets: NA
Business Description
Incorporated in 1969, South Bay Technology serves as an
independent representative for companies producing materials and equipment for
the semiconductor industry. It products include facing saws designed for
cutting semiconductor crystals. The Model 750 acid saw and the Model 650
low-speed diamond wheel saw soon followed its first Model 450 Crystal
Instrument, designed for damage free electrolytic polishing of crystals. In
1970, South Bay Technology introduced the Model 550 Single Vertical-Jet
ElectroPolisher, which offered tremendous advantages over the more traditional
twin-jet systems. Over the years, South Bay Technology has developed into a company
with more than 50 major products and customers in more than 70 countries.
During this period of time, it has remained a family-owned business with
offices in
Industry
Industry Medical Equipment and Supplies
ANZSIC 2006: 2419 - Other
Professional and Scientific Equipment Manufacturing
NACE 2002: 3310 - Manufacture
of medical and surgical equipment and orthopaedic appliances
NAICS 2002: 339111 -
Laboratory Apparatus and Furniture Manufacturing
UK SIC 2003: 3310 - Manufacture
of medical and surgical equipment and orthopaedic appliances
US SIC 1987: 3821 - Laboratory
Apparatus and Furniture
Key Executives
(Emails Available)
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Name |
Title |
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Richard Henriks |
President |
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Steve Collins |
Marketing |
ABI Number: 421208927
1 - Profit & Loss Item Exchange Rate: USD 1 = USD 1
2 - Balance Sheet Item Exchange Rate: USD 1 = USD 1
Corporate Overview
Location
1120 Via Callejon
Ste A
Tel: 949-492-2600
Fax: 949-492-1499
Toll Free Tel: 800-728-2233
Web: www.southbaytech.com
Sales USD(mil): 10.0
Assets USD(mil): NA
Employees: 35
Industry: Medical Equipment and Supplies
Incorporation Date: 1964
Company Type: Private
Independent
Quoted Status: Not
Quoted
President: Richard Henriks
Contents
Industry Codes
Business Description
Product Codes
Financial Data
Additional Information
Industry Codes
ANZSIC 2006 Codes:
2463 - Machine Tool and Parts Manufacturing
3491 - Professional and Scientific Goods Wholesaling
2090 - Other Non-Metallic Mineral Product Manufacturing
2469 - Other Specialised Machinery and Equipment Manufacturing
2419 - Other Professional and Scientific Equipment Manufacturing
NACE 2002 Codes:
5187 - Wholesale of other machinery for use in industry, trade and
navigation
2924 - Manufacture of other general purpose machinery not
elsewhere classified
2681 - Production of abrasive products
3320 - Manufacture of instruments and appliances for measuring,
checking, testing, navigating and other purposes, except industrial process
control equipment
2942 - Manufacture of other metalworking machine tools
3310 - Manufacture of medical and surgical equipment and orthopaedic
appliances
NAICS 2002 Codes:
333319 - Other Commercial and Service Industry Machinery
Manufacturing
334516 - Analytical Laboratory Instrument Manufacturing
333515 - Cutting Tool and Machine Tool Accessory Manufacturing
339111 - Laboratory Apparatus and Furniture Manufacturing
327910 - Abrasive Product Manufacturing
423490 - Other Professional Equipment and Supplies Merchant
Wholesalers
US SIC 1987:
3821 - Laboratory Apparatus and Furniture
5049 - Professional Equipment and Supplies, Not Elsewhere
Classified
3589 - Service Industry Machinery, Not Elsewhere Classified
3291 - Abrasive Products
3826 - Laboratory Analytical Instruments
3545 - Cutting Tools, Machine Tool Accessories, and Machinists'
Precision Measuring Devices
2924 - Manufacture of other general purpose machinery not
elsewhere classified
3310 - Manufacture of medical and surgical equipment and
orthopaedic appliances
5187 - Wholesale of other machinery for use in industry, trade and
navigation
3320 - Manufacture of instruments and appliances for measuring,
checking, testing, navigating and other purposes, except industrial process
control equipment
2681 - Production of abrasive products
2942 - Manufacture of other metalworking machine tools
Business
Description
Incorporated in
1969, South Bay Technology serves as an independent representative for
companies producing materials and equipment for the semiconductor industry. It
products include facing saws designed for cutting semiconductor crystals. The
Model 750 acid saw and the Model 650 low-speed diamond wheel saw soon followed
its first Model 450 Crystal Instrument, designed for damage free electrolytic
polishing of crystals. In 1970, South Bay Technology introduced the Model 550
Single Vertical-Jet ElectroPolisher, which offered tremendous advantages over
the more traditional twin-jet systems. Over the years, South Bay Technology has
developed into a company with more than 50 major products and customers in more
than 70 countries. During this period of time, it has remained a family-owned
business with offices in
More Business
Descriptions
Manufacturer of equipment for slicing, polishing, ion beam sputtering equipment and orienting crystals. The company also manufactures metallographic equipment used for lapping and polishing metals. Primary customers are materials researchers. All equipment is used in laboratories and includes plasma etching/cleaning and reactive ion etching.
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Credit Report as of 09/01/2011
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Location |
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1120 Via Callejon Ste: A |
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County: |
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MSA: |
LA-Long |
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Phone: |
949-492-2600 |
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Fax: |
949-492-1499 |
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Toll Free: |
800-728-2233 |
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URL: |
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ABI©: |
421208927 |
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Annual Sales: |
$10,045,000 (USD) |
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Employees: |
35 |
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Facility Size(ft2): |
10,000 - 39,999 |
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Business Type: |
Private |
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Location Type: |
Single Location |
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Primary Line of Business: |
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SIC: |
3821-01 |
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NAICS: |
339111 - Laboratory Apparatus & Furniture Mfg |
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Secondary Lines
of Business: |
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NAICS: |
334516 - Analytical Laboratory Instrument Mfg |
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333319 - Other Commercial & Svc Machinery Mfg |
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333515 - Cutting Tool & Machine Tool Accessory Mfg |
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SICs: |
3291-02 - |
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3545-98 - |
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3559-09 - |
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3826-98 - |
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5049-06 - |
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9999-66 - |
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327910 - Abrasive Prod Mfg |
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423490 - Other Professional Equip Merchant Whols |
Similar Businesses
in the Area *
Advanced Lab Concepts
Delton Scientific Inc
7454 Lorge Cir
Dow Diversified Inc
Amico Scientific
Vella & Dixon Scientific
DPS Instruments Inc
Nikon Instruments Inc
12 Goodyear Ste: 110
Beckman Coulter Inc
National Scientific Supply Co
Thomson Instrument Co
* Similar Businesses are
defined as the closest businesses sharing the same six-digit primary SIC code (
3821-01) regardless of size.
Closest Neighbors
Toolander Engineering Inc
1110 Via Callejon
Energy Suspension
1131 Via Callejon
Coast Material Sales
1101 Via Callejon
Bryson West & Associates
1010 Calle Cordillera Ste: 102
Joan Baker Designs
1130 Via Callejon
Shine
31511 Camino Capistrano Ste: A
1111 Via Callejon
Executive report
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Executives |
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President |
President |
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Marketing |
Marketing Executive |
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Standard
& Poor’s
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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.
The
transfer and convertibility (T&C) assessment of the
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
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
The
political brinksmanship of recent months highlights what we see as
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
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
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
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
Standard & Poor's
transfer T&C assessment of the
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
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Indian Rupees |
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US Dollar |
1 |
Rs.53.34 |
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|
1 |
Rs.86.09 |
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Euro |
1 |
Rs.69.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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 |
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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 |
|
<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.