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Report Date : |
30.04.2013 |
IDENTIFICATION DETAILS
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Name : |
Mott Corporation |
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Formerly Known As : |
MOTT METALLURGICAL CORPORATION |
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Registered Office : |
84 Sprint Lane, Farmington, CT 06032 |
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Country : |
United States |
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Date of Incorporation : |
09.07.1959 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Manufactures and supplies diverse porous metal products for customers
in various industries and applications. |
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No. of Employees : |
320 |
RATING & 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 : |
Slow |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
United States |
A1 |
A1 |
|
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 $49,800. 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. Crude 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 climbed another 50% between 2006 and 2008, and bank foreclosures
more than doubled in the same period. Besides dampening the housing market,
soaring oil prices caused a drop in the value of the dollar and a deterioration
in the US merchandise trade deficit, which peaked at $840 billion in 2008. The
sub-prime mortgage crisis, falling home prices, investment bank failures, tight
credit, and the global economic downturn 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. In 2012 the federal government reduced the growth of spending
and the deficit shrank to 7.6% of GDP. Wars in Iraq and Afghanistan required
major shifts in national resources from civilian to military purposes and
contributed to the growth of the budget deficit and public debt. Through 2011,
the direct costs of the wars totaled nearly $900 billion, according to US
government figures. US revenues from taxes and other sources are lower, as a
percentage of GDP, than those of most other countries. In March 2010, President
OBAMA signed into law the Patient Protection and Affordable Care Act, a health
insurance reform 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. In December 2012, the Federal
Reserve Board announced plans to purchase $85 billion per month of mortgage-backed
and Treasury securities in an effort to hold down long-term interest rates, and
to keep short term rates near zero until unemployment drops to 6.5% from the
December rate of 7.8%, or until inflation rises above 2.5%. Long-term problems
include stagnation of wages for lower-income families, inadequate investment in
deteriorating infrastructure, rapidly rising medical and pension costs of an
aging population, energy shortages, and sizable current account and budget
deficits - including significant budget shortages for state governments.
Source
: CIA
Company name: MOTT CORPORATION
Address: 84 Sprint Lane, Farmington, CT
06032 - USA
Telephone: +1
860-747-6333
Fax: +1 860-747-6739
Website: www.mottcorp.com
Corporate ID#: 0032121
State: Connecticut
Judicial form: Corporation – Profit
Date incorporated: July 9,
1959
Stock: 1,777,778
shares common A
222,222 shares common non-voting
Value: No
par value
Name of manager: Roger
R. KLENE
Business:
Mott Corporation manufactures and supplies diverse porous metal products
for customers in various industries and applications.
The company operates through three business segments: OEM
Parts/Products, Process Filtration Systems, and High Purity Products.
The OEM Parts/Products segment provides porous metal shapes, such as bushings,
cups, discs, sheets, and tubes; components; assemblies; and inline filters. The
Process Filtration Systems segment offers gas and liquid large scale filter
systems, filter elements, and pilot scale filters for refinery, petrochemical,
and power generation. The High Purity Products segment provides gas filters,
diffusers, and flow restrictors for semiconductor quality gases; and spargers
and filters for biopharmaceutical applications.
It offers research and development analytical test instrumentation,
filtration test systems, gaseous evaluation, and liquid evaluation services.
The company serves various industries, such as medical device, process
industry filtration, food and beverage, biotechnology and semiconductor,
analytical instrumentation, OEM components and filters, and polymer filtration.
It markets and sells its products through distributors and industrial
manufacturers sales representatives in North America, Asia, Europe, and
internationally.
Mott Corporation was formerly known as Mott Metallurgical Corporation
and changed its name to Mott Corporation in February 2005.
The company was founded in 1959 and is based in Farmington, Connecticut
with manufacturing facilities in Farmington, Connecticut. It has a sales office
in Beijing, China.
Suppliers include:
Ecka Granules Metal Powders Ltd.
Unit 23-26 Prothero Works, Bilport Lane, WS1 Ontario, Canada
EIN: 06-0741455
Staff: 320
Operations & branches:
At the headquarters, we
find a factory, warehouse and office, on
36,000 sq. ft. owned.
Shareholders
This is a private Company.
Management
Roger R. KLENE is the President, Director and CEO.
He has been Corporator at Hartford Hospital, Inc. since 1996.
Mr. Klene has been Director at Hartford Hospital, Inc. since 1999.
Gary S. SCAIFE is Vice President and Director.
Thomas FAHEY, Kenneth L. ROBOW, Franklin J. HUBBELL, Jeanine WILMOT,
Suzanne D. SPARGO, Vice Presidents.
Jean-Pierre VAN ROOY, Pamela P. WEST, Donald BODELL, Directors
As far as we know, they are not involved in other local corporations.
Subsidiaries and
partnership
MOTT CORPORATION CHINA
B Tower, Room 510, U-Space, Guangqumen Wai Street, #8, Chaoyang District
Beijing 100022, China
Phone: +86 (10) -5861-3776
Fax: +86 (10) -5861-3779
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
2012 is in the range of USD 35,000,000=
The business is profitable.
Banks: JPMorgan Chase Bank
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary (UCC):
Several
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.28 |
|
|
1 |
Rs.84.23 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.