MIRA
INFORM REPORT
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Report Date : |
09.01.2013 |
IDENTIFICATION DETAILS
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Name : |
DRESSER, INC. |
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Registered Office : |
1101 West St-Paul Avenue, Waukesha, WI 53188 |
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Country : |
United States |
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Date of Incorporation : |
18.12.1998 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Designs, manufactures, and markets power, fluids, and gas regulating and monitoring products |
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No. of Employees : |
9,100 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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 (31.03.2011) |
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.
Source
: CIA
Company name and address
Company name: DRESSER, INC.
Address: 1101 West St-Paul
Avenue, Waukesha, WI 53188 – USA
Telephone: +1
262-549-3311
Fax: +1 262-549-2795
Headquarters: 15455 Dallas Parkway, Addison, TX
75001 - USA
Telephone: +1 972-361-9800
Fax: +1 972-361-9903
Website: www.dresser.com
Corporate ID#: 2981572
State: Delaware
Judicial form: Corporation – Profit
Date incorporated: 12-18-1998
Stock: 10,000
shares common
Value: USD
0.01= par value
Name of manager: John P. RYAN
ACTIVITIES
& OPERATIONS
Business:
Dresser, Inc. designs, manufactures, and markets power, fluids, and gas
regulating and monitoring products. The company offers valves, actuators,
meters, pumps, switches, regulators, piping products, compressors, control
valves, pressure relief valves, blowers and rotary gas meters, natural
gas-fueled engines, retail fuel dispensers and retail point of sale systems,
and air and gas handling equipments. Additionally, it provides pipe coupling
and fitting, product designing, maintenance, and project consulting services.
Dresser caters to the oil and gas, power generation, fueling, and water
treatment industries.
The company formerly known as Dresser Equipment Group, Inc. changed its
name to Dresser, Inc. in April, 2001.
Dresser, Inc. was founded in 1998 and is headquartered in Addison,
Texas.
As of February 1, 2011, Dresser, Inc. operates as a subsidiary of
General Electric Company.
Suppliers include:
DRESSER MACHINERY (SUZHOU) CO. LTD
NO 81, Suhong Zhong Road Suzhou industrial park Suzhou, Jiangsu 215021 China
EIN: 75-2795365
Staff: 9,100
Operations & branches:
At the headquarters, we
find the corporate office, on lease.
The Company maintains 22
branches in the U.S.
SHAREHOLDERS & MANAGERS
Shareholders:
GENERAL ELECTRIC COMPANY
3135 Easton Turnpike
Fairfield, CT 06828
General Electric Company operates as a technology and financial services
company worldwide.
The company’s Energy Infrastructure segment offers wind turbines; gas
and steam turbines and generators; integrated gasification combined cycle
systems; aircraft engine derivatives; nuclear reactors, fuel, and support
services; oil and gas extraction and mining motors and control systems;
aftermarket services; water treatment solutions; power conversion
infrastructure technology and services; and integrated electrical equipment and
systems.
The Company is listed with the NYSE under symbol GE.
Sales 2011: USD 94,523,000,000=
Net profit: USD 14,151,000,000=
Management:
John P. RYAN is the President, Director and CEO
Mr. John P. Ryan has been Chief Executive Officer and President of Dresser
Inc. since May 2007 and December 20, 2004 respectively. Mr. Ryan served as
President of Dresser Wayne and as Vice President of Dresser Inc.
He served as Chief Operating Officer of Dresser Inc. from December 20,
2004 to May 2007. Mr. Ryan joined Dresser Inc. as a National Accounts Sales
Manager in 1987, worked in Field Sales and National Sales and served as Vice
President of Sales since 1991. Prior to working at Dresser Wayne, Mr. Ryan
worked for 10 years with Goulds Pumps Inc. in various sales capacities in
Singapore and the
United States. Mr. Ryan has been a Director of FlexEnergy, LLC since
January 2012. He serves as a Trustee of Manufacturers Alliance/MAPI, Inc.
He served as a Director of Dresser Inc.
Mr. Marty R. KITTRELL has been the Chief Financial Officer and Executive
Vice President of Dresser Inc. since September 1, 2008. Mr. Kittrell has over
25 years of experience as a Chief Financial Officer. He has served in the role
of Chief Financial Officer at several public companies. Mr. Kittrell also has
extensive experience with mergers and acquisitions, and capital markets
transactions. Mr. Kittrell served as the Chief Financial Officer and Executive
Vice President of Andrew Corporation from October 2003 to December 2007.
Mr. Kittrell served as Vice President of Strategic Planning of Andrew
Corp. from June 2002 to September 2003. He served as a the Chief Financial
Officer, Vice President and Secretary of Celiant Corp. From 1997 to 2000, Mr.
Kittrell held various executive positions at BlueStar Battery Systems
International, Worldtex Inc. and Enfinity Corp. Prior to that, he served as the
Chief Financial Officer and Vice President of Powerware Corp. (formerly known
as Exide Electronics Group Inc.) from 1989 to 1997, Treasurer since 1989 and
also served as its Assistant Secretary since 1991. He has been a Director of On
Assignment Inc. since September 4, 2012. Mr. Kittrell has been a Director of
NiSource Inc. since May 8, 2007. He serves as Unit Board Member of American
Electronics Association. He practiced accounting with a national accounting
firm and is an active Member of the AICPA, the National Association of
Corporate Directors, Financial Executives International and the National
Investor Relations Institute. He serves as a Member of Midewest Council at The
Technology Association of America. He is a Member of Financial Executives
International (FEI), National Investor Relations Institute, Institute of
Management Accountants and Institute of Internal Auditors.
He is a Certified Public Accountants from American Institute of
Certified Public Accountants. Mr. Kittrell holds a B.S. degree in Accounting
from Lipscomb University.
Subsidiaries
And partnership: Several
in U.S. and worldwide
FINANCIALS
In United States, privately
held corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report and confirmed that all
financials are consolidated into the parent company.
However, estimate revenue
for year 2011 is in excess of USD 2 billion.
More than 60% of Dresser's revenues are derived from operations outside
the United States.
The business is said to be
profitable.
Banks: First Boston Credit Suisse
Bank of America
...
LEGAL FILINGS
Legal filings & complaints:
As of today date, there are several legal filing pending with various
Courts involving the Company as plaintiff or defendant.
Secured debts summary (UCC):
Several in various States.