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Report Date : |
15.10.2012 |
IDENTIFICATION DETAILS
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Name : |
IOFINA CHEMICAL, INC. |
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Registered Office : |
1025 Mary Laidley Drive, Covington, KY 41017 |
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Country : |
United States |
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Date of Incorporation : |
24.08.1983 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
manufactures and supplies specialty chemicals for
industrial applications |
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No. of Employees : |
30 employees |
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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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
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.
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Source : CIA |
Company name: IOFINA CHEMICAL, INC.
Address: 1025 Mary Laidley Drive,
Covington, KY 41017- USA
Telephone: +1
859-356-8000
Fax: +1 859-356-8712
Website: www.iofina.com
Corporate ID#: 2015552
State: Delaware
Judicial form: Corporation – Profit
Date incorporated: 08-24-1983
Stock: -
Value: -
Name of manager: Thomas
BECKER
Business:
Iofina Chemical, Inc. manufactures and supplies specialty chemicals for
industrial applications in the United States.
It provides chlorides, fluorides, and iodides.
The company offers specialty derivatives, including antiseptic and anti-microbial
products for use in cleaning and disinfection; biocides for paints and
coatings; and fluorinated halocarbons for specialty electronic gases.
Iofina Chemical, Inc. was formerly known as H&S Chemical Co., Inc.
The company was founded in 1983 and is based in Covington, Kentucky.
As of July 27, 2009, Iofina Chemical, Inc. operates as a subsidiary of
Iofina plc.
Last news:
On April 5, 2012, Iofina plc announces the entrance of Iofina Chemical,
Inc. into the iodine recycling business and the freehold purchase of a new
dual-production brine stream process site located at its core Southwest
Operations area, which the Directors believe will lead to capital cost savings
being achieved by the Group. The site purchase includes approximately one acre of
land, access roads, and easements for brine lines, electric and other
utilities. The site is located between two brine water disposal facilities of
two large oil and gas companies. The site will be able to extract from both
operators iodine rich brine streams by its WET® IOsorb™ iodine extraction plant
thus realizing the OPEX and CAPEX synergies. The site will be placed into its
previous announced backlog of sites and locations for rollout.
The site was purchased for under USD 15,000. The board reported that it
has successfully entered into the iodine recycling business to manage waste
streams from chemical, nylon, electronics and pharmaceuticals manufacturing.
The company is currently processing iodine from these sources at its Iofina
Chemical location in Covington, Kentucky.
Suppliers
include:
VINYL KERESKEDELMI ES SZOLGALTATO K
Adler Karoly u. 19 Miskolc 3524 Hungary
JIANGSU XINNUO CHEMICALS CO LTD
NO.87 Baixia Road Nanjing China
EIN: -
Staff: 30
Operations & branches:
At the headquarters, we
find a factory, warehouse and office, owned.
Shareholders:
IOFINA PLC
82 St. John Street, London EC1M 4JN – UK
The Company is listed with London Stock Exchange under symbol IOF.
Management:
Dr. Thomas BECKER is the President, Director and CEO.
Dr. Thomas M. Becker, Tom has been the President of Iofina Chemical
Inc., at Iofina plc, since March 2010 and serves as its Chief Executive
Officer.
Dr. Becker served as the Vice President of Research and Development at
H&S/Iofina Chemical.
He has conducted extensive research in both inorganic and organic
halogen based chemistry. Prior to H&S Dr. Becker worked as an Oak Ridge Scholar
on behalf of the US EPA and worked for various other chemical manufacturing
companies. He has extensive experience in scale-up of chemical processes from
laboratory to pilot to full scale production and is the inventor on several
chemical patents/patent applications.
He has written a magnitude of published technical papers in his career.
Dr. Becker earned a BS in Chemistry from Indiana University, and a PhD
in Chemistry from the University of Cincinnati.
Michael CODDINGTON is Director and CFO
Kurt JONES is Director
Sister companies:
Iofina, Inc.
8480 East Orchard Road, Suite 3600
Greenwood Village, CO 80111
Iofina Natural Gas, Inc.
8480 East Orchard Road, Suite 3600
Greenwood Village, CO 80111
In United States, privately
held corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report.
Sales declared for year
2011 is in the range of USD 7,000,000=
The business is profitable.
Banks: Citibank
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary (UCC):
None