MIRA INFORM REPORT
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Name :
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EASTERN COLOR & CHEMICAL COMPANY
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Registered Office :
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35 Livingstone
Street, Providence, RI 02904
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Country :
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United States
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Date of Incorporation :
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02.01.1959
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Legal Form :
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Corporation – Profit
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Line of Business :
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manufacturers
specialty chemicals and pigments for the textile, leather, paper, and plastic industries
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No. of Employees :
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68 (for the group)
employees
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RATING
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STATUS
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PROPOSED CREDIT LINE
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41-55
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Ba
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Overall operation is considered normal. Capable to meet normal
commitments.
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Satisfactory
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Status :
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Satisfactory
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Payment Behaviour :
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No Complaints
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Litigation :
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Clear
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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
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Previous Rating
(31.12.2011)
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Current Rating
(31.03.2012)
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United States
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A1
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A1
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Risk Category
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ECGC
Classification
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Insignificant
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A1
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Low
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A2
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Moderate
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B1
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High
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B2
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Very High
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C1
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Restricted
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C2
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Off-credit
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D
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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.
Company summary
Company name: EASTERN COLOR & CHEMICAL COMPANY
Address: 35 Livingstone Street, Providence, RI 02904 – USA
Mailing address: PO Box 6161, Providence,
RI 02940
- USA
Telephone: +1
401-331-9000
Fax: +1 401-331-2155
Website: www.easterncolor.net
Corporate ID#: 11367
State: Rhode Island
Judicial form: Corporation
– Profit
Date incorporated: January
2, 1959
Stock: 300
shares common (100 shares issued and outstanding)
Value: No
par value
Name of manager: Barry
SHEPARD
ACTIVITIES &
OPERATIONS
IST
Business:
Eastern Color & Chemicals Company is a part of a strong group,
which manufacturers specialty chemicals and pigments for the textile,
leather, paper, and plastic industries.
EIN: -
Staff: 68 (for the group)
Operations & branches:
At the headquarters, we
find a factory, warehouse and office, on lease.
The Company maintains a branch located:
5 Alva Street
Greenville, SC 29605
Ph: 864-277-9211
Fx: 864-277-9211
SHAREHOLDERS & MANAGERS
Shareholders:
Barry SHEPARD is the major shareholder.
Management:
Barry SHEPARD is the President and CEO.
As far as we know, he is also the President of:
SABAR REALTY, INC.
35 Livingstone
Street, Providence, RI
02904
Incorporated in Rhode Island
on 08-07-1956
ID# 7312
LENOX CHEMICAL COMPANY
35 Livingstone
Street, Providence, RI
02904
Incorporated in Rhode Island
on 06-23-1959
ID# 19716
EASTERN INTERNATIONAL, LTD
35 Livingstone
Street, Providence, RI
02904
Incorporated in Rhode Island
on 05-29-1973
ID# 11435
JOY CHEMICAL COMPANY
35 Livingstone
Street, Providence, RI
02904
Incorporated in Rhode Island
on 11-01-1968
ID# 25539
CHEMICAL COATINGS CORPORATION
35 Livingstone
Street, Providence, RI
02904
Incorporated in Rhode Island
on 09-23-1963
ID# 4072
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.
Outside sources (bank) gave
estimate sales for year 2011 in the range of
USD 6,000,000=
The business is said to be
profitable.
Banks: TD Bank
180
Westminster Street, Providence, RI 02903
Ph: 401-455-2900
LEGAL FILINGS
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary (UCC):
None