185 Great Neck
Road, 4th floor, Great Neck, NY11022
Country :
United States
Date of Incorporation :
16.12.1998
Legal Form :
LLC
Line of Business :
Imports and supplies screw machined parts and assemblies.
No. of Employees :
20
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
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 – June 30th, 2012
Country Name
Previous Rating
(31.03.2011)
Current Rating
(30.06.2012)
United States
A1
A1
Risk Category
ECGC
Classification
Insignificant
A1
Low
A2
Moderate
B1
High
B2
Very High
C1
Restricted
C2
Off-credit
D
UNITED STATES - ECONOMIC OVERVIEW
The US has the largest and most
technologically powerful economy in the world, with a per capita GDP of
$48,100. In this market-oriented economy, private individuals and business
firms make most of the decisions, and the federal and state governments buy
needed goods and services predominantly in the private marketplace. US business
firms enjoy greater flexibility than their counterparts in Western Europe and Japan
in decisions to expand capital plant, to lay off surplus workers, and to
develop new products. At the same time, they face higher barriers to enter
their rivals' home markets than foreign firms face entering US markets. US firms are at or near
the forefront in technological advances, especially in computers and in
medical, aerospace, and military equipment; their advantage has narrowed since
the end of World War II. The onrush of technology largely explains the gradual
development of a "two-tier labor market" in which those at the bottom
lack the education and the professional/technical skills of those at the top
and, more and more, fail to get comparable pay raises, health insurance
coverage, and other benefits. Since 1975, practically all the gains in
household income have gone to the top 20% of households. Since 1996, dividends
and capital gains have grown faster than wages or any other category of
after-tax income. Imported oil accounts for nearly 55% of US consumption. Oil prices doubled
between 2001 and 2006, the year home prices peaked; higher gasoline prices ate
into consumers' budgets and many individuals fell behind in their mortgage
payments. Oil prices increased another 50% between 2006 and 2008. In 2008,
soaring oil prices threatened inflation and caused a
deterioration in the US
merchandise trade deficit, which peaked at $840 billion. In 2009, with the
global recession deepening, oil prices dropped 40% and the US trade deficit shrank, as US domestic demand declined, but in
2011 the trade deficit ramped back up to $803 billion, as oil prices climbed
once more. The global economic downturn, the sub-prime mortgage crisis,
investment bank failures, falling home prices, and tight credit pushed the United States
into a recession by mid-2008. GDP contracted until the third quarter of 2009,
making this the deepest and longest downturn since the Great Depression. To
help stabilize financial markets, in October 2008 the US Congress established a
$700 billion Troubled Asset Relief Program (TARP). The government used some of
these funds to purchase equity in US banks and industrial corporations, much of
which had been returned to the government by early 2011. In January 2009 the US
Congress passed and President Barack OBAMA signed a
bill providing an additional $787 billion fiscal stimulus to be used over 10
years - two-thirds on additional spending and one-third on tax cuts - to create
jobs and to help the economy recover. In 2010 and 2011, the federal budget
deficit reached nearly 9% of GDP; total government revenues from taxes and
other sources are lower, as a percentage of GDP, than that of most other
developed countries. The wars in Iraq
and Afghanistan required
major shifts in national resources from civilian to military purposes and
contributed to the growth of the US budget deficit and public debt -
through 2011, the direct costs of the wars totaled nearly $900 billion,
according to US government figures. In March 2010, President OBAMA signed into
law the Patient Protection and Affordable Care Act, a health insurance reform
bill that will extend coverage to an additional 32 million American citizens by
2016, through private health insurance for the general population and Medicaid
for the impoverished. Total spending on health care - public plus private -
rose from 9.0% of GDP in 1980 to 17.9% in 2010. In July 2010, the president
signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law
designed to promote financial stability by protecting consumers from financial
abuses, ending taxpayer bailouts of financial firms, dealing with troubled
banks that are "too big to fail," and improving accountability and
transparency in the financial system - in particular, by requiring certain
financial derivatives to be traded in markets that are subject to government
regulation and oversight. Long-term problems include inadequate investment in
deteriorating infrastructure, rapidly rising medical and pension costs of an
aging population, sizable current account and budget deficits - including
significant budget shortages for state governments - energy shortages, and
stagnation of wages for lower-income families.
Source : CIA
Company name and address
Company name:NORCA INDUSTRIAL LLC
Address:185 Great Neck Road, 4th
floor, Great Neck, NY 11022 - USA
Telephone:+1
516-466-9500
Fax:+1 516-482-3367
Website:www.norcaind.com
Corporate ID#:2325906
State:New YorkState
Judicial form:LLC
Date incorporated: 12-16-1998
Date founded:1989
Stock value:A
LLC has no stock
Name of manager:Selim BAHAR
ACTIVITIES
& OPERATIONS
IST
Business:
NORCA imports and supplies screw machined parts and assemblies.
It offers bearings, fiber optics connector assemblies, gear movements
for instruments and clocks, contacts, balls, receptacles, brushes and mandrels,
aspirator tips and suction tube sets, hinges, rimlocks,
screws, wire cores and temples, collars, and connector assemblies, as well as
provides probes for coordinate measuring machines.
The company also provides nuts, diesel-motor fuel injection pumps gears,
mounted precision jewel and miniature bearings, pointers, precision miniature
gears and gear-shafts, pivots and shafts, small and miniature stampings, and
precision parts mass produced to tight tolerances.
In addition, it offers miniature gears for instruments; gears for prophy angles and dental prophy
angles; single and multi-mode ferrules and split sleeves; test probes in
hardened steel, hardened beryllium, and brass; nozzles, windows, capillaries,
lenses, tablets, precision balls, and optical and half-spheres; and small size
gears for gearboxes and meters.
Further, the company supplies component parts made in the United States,
as well as provides expert advice.
Shijiazhuang,
China; Zhangjiakou, China;
and Tianjin,
China.
SHAREHOLDERS & MANAGERS
Shareholders:
NORCA CORPORATION
185 Great Neck
Road, 4th floor, Great Neck, NY11022
Incorporated in New YorkState on April 2, 1946
ID# 58320
Management:
Selim BAHAR is the President and CEO.
Selim founded Norca
Industrial in 1989 and has been serving as its president ever since. His
extensive background in the international trade business and his many years at
the head of North America's pre-eminent
provider of Industrial Fluid Handling Material in Stainless Steel, Carbon
Steel, Alloy Steel, Aluminum, and Titanium provides consistent, proven and
visionary leadership.
Bob BLUMENKRANTZ is Executive Vice President
Bob graduated from SUNY Buffalo with a degree in engineering in 1971 and
later completed his MBA in Finance from the City University of New York’s BaruchCollege.
He is the Co-Founder of Norca Industrial Company and
currently serves as its Executive Vice President. He has been an integral asset
to the company since the day the door opened for business back in 1989. His
multiple skill set and extensive knowledge of International Trade augmented by
his technical aptitude and management skills has set him apart from many in the
Industry.
Stephen PALADINO is Vice President and CFO
He is a CPA with advanced degrees in finance and taxation. Steve has had
a very diverse career path that provided exposure to many areas and industries.
He has been with Norca since 2007 and has held a CFO
position for over 15 years, including 5 years as President, COO and CFO in an
unrelated industry. His finance and business acumen has made him an integral
part of Norca Industrial.
Juan GARIBALDI is Vice President and General Manager
Juan joined Norca Industrial in 2008 after
spending the first part of his career in the Financial Industry. Having spent 7
years in Citigroup’s Asset Management within the exclusive Private Banking
division, he decided to make the change to International Trade and Importing.
His international background, upbringing, and extensive experience in
international banking afford him unique insights into international trade. Juan
holds an BBA in International Business from the City
University of New York’s Baruch College-Zicklin
School of Business and an MBA in Finance from FordhamUniversity’s
Graduate School of Business Administration. Juan currently oversees all aspects
of the business in his capacity as Vice President and General Manager.
Subsidiaries
And partnership:None
FINANCIALS
In United States, privately held
corporations are not required to publish any financials.
On a direct call, nobody accepted
to answer our questions.
We sent a fax but no answer
received.
However, sales estimate for
year 2011 is in the range of USD 4,000,000=
The business is said to be
profitable.
Banks:ISRAEL DISCOUNT BANK OF NEW YORK
511
Fifth Avenue, New
York, NY 10017 Ph: 212-551-8500
LEGAL FILINGS
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.