MIRA INFORM REPORT
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Name :
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SEARLES VALLEY MINERALS INC.
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Registered Office :
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9401 Indian
Creek Parkway, Ste 1000 Overland Park,
KS 66210
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Country :
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United States
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Date of Incorporation :
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06.06.1990
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Legal Form :
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Corporation – Profit
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Line of Business :
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Subject is engaged in processing brine solutions from the
lakebed to produce boric acid, sodium carbonate/soda ash, sodium sulfate, salt,
and various forms of borax for industrial and agricultural customers
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No of Employees :
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650
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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 – September 30, 2014
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Country Name
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Previous Rating
(30.06.2014)
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Current Rating
(30.09.2014)
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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
$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 was designed to 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 (Fed) 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 below 6.5% or
inflation rises above 2.5%. In late 2013, the Fed announced that it would begin
scaling back long-term bond purchases to $75 billion per month in January 2014
and reduce them further as conditions warranted; the Fed, however, would keep
short-term rates near zero so long as unemployment and inflation had not
crossed the previously stated thresholds. 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.
Company name and address
SEARLES VALLEY
MINERALS INC.
Address : 9401 Indian Creek Parkway, Ste 1000
Overland
Park, KS 66210
- USA
Telephone : +1 913-344-9500
Fax : +1 913-344-9602
Website : www.svminerals.com
Corporate ID# : 2232521
State : Delaware
Judicial form : Corporation
– Profit
Date incorporated : 06-06-1990
Stock : 1,000 shares common
Value : -
Name of manager :
Aninash PURI
ACTIVITIES &
OPERATIONS
IST
Business:
Searles Valley Minerals, Inc. engages in processing brine solutions from
the lakebed to produce boric acid, sodium carbonate/soda ash, sodium sulfate,
salt, and various forms of borax for industrial and agricultural customers. Its
soda ash and borates are used to make window glass and windshields for
automobiles; salt is used by industrial laundries; sodium sulfate is used by
dye and detergent makers; borates are used by high technology companies to make
flat screen monitors, electronic parts, and special coatings; and specialty
borates are used for fire retardants, fiberglass insulation, and wood
treatments.
Searles Valley Minerals, Inc. was formerly known as IMC Chemicals, Inc.
and changed its name to Searles Valley Minerals Operations, Inc. in April 2004,
and then to Searles Valley Minerals, Inc. on March 28, 2012.
The company was founded in 1998 and is headquartered in Overland Park, Kansas.
Searles Valley Minerals, Inc. operates as a subsidiary of Karnavati Holdings
Inc.
Suppliers include:
U. DEL
CORONA & SCARDIGLI SRL
Scali Dazeglio, 32i-57123 Livorno,
Italy
EIN : 13-3579263
Staff : 650
(for the group in the U.S.)
Operations & branches
At the headquarters, we
find the corporate office, on lease.
The plant is located:
13200 Main
Street
Trona, CA 93562
Ph: +1 760-372-4311
SHAREHOLDERS & MANAGERS
Shareholders:
KARNAVATI HOLDINGS INC.
9401 Indian
Creek Parkway, Ste 1000
Overland Park, KS 66210
Which
is a wholly owned subsidiary of:
NIRMA LTD.
Nirma House
Ashram Road
Ahmedabad 380 009 – India
Nirma Limited engages in the production and sale of soaps and
surfactants, pharmaceutical products, and processed minerals primarily in India and the United States. It provides consumer
products, including soaps, toilet soaps, detergents, edible salt, scouring
products, and tooth paste; and industrial products comprising linear alkyl
benzene, alfa olefin sulfonate, sulfuric acid, glycerin, soda ash, pure salt,
vacuum evaporated iodized salt, single super phosphate, and sodium silicate
under the Nirma and Nima brands.
The company also offers various pharmaceutical formulations under the
Nirlife brand name. In addition, it provides processed minerals for container
glass, flat glass, detergent, agricultural, and fire retardant industries
primarily in the United States,
Latin America, Europe, Japan,
China,
and Gulf countries. Nirma Limited was founded in 1969 and is based in Ahmedabad, India.
Management:
Avinash PURI is the President of Searles Valley Minerals.
He was formerly Executive Vice President responsible for the boron
business and international sales at Searles Valley Minerals. Avinash has spent 30
years with Searles Valley Minerals and their predecessors IMC Chemicals, Kerr
McGee and North American Chemical Company. Avinash joined Kerr McGee, Trona, CA
in 1980 as a Staff Engineer and was quickly promoted to Manager Engineering
directing engineers at four manufacturing locations. In 1987 he became the
Plant Manager overseeing all locations including a co-generation unit. In 1990,
he became the Operations Manager for the California,
Colorado and Italy locations. He successfully
reengineered the boron operations at the California
and Italy locations reducing
maintenance costs and increasing on-stream time and restructured the Colorado facility to
increase output and improve quality to meet food grade standards. In 1992, he
became the Manager of Business Development at the corporate office of North
American Chemical Company where he identified acquisition and joint venture
opportunities. In 1995, Avinash became the Director of Commercial Development
overseeing new products/applications and strategic market planning.
In 1997, he became the Vice President and General Manager - Boron
Products responsible for all boron activities, market growth and international
sales. He was promoted to President in 2012. Avinash graduated from Panjab University, India with a chemical engineering
degree in 1977.
After graduation, he joined the post graduate school at University of Arizona to receive his MS degree in
Chemical Engineering in 1979.
Matthew DOWD is Director and
Secretary
Other Directors include Emanuel di TERESI, R.J. JOSHIPARA, and Ajay
KHUSHU.
Mihir PATEL is the CFO.
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, US consolidate
sales estimate for year 2013 is in the range of
USD 60,000,000=
The business is profitable.
Banks
Bank of India
LEGAL FILINGS
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary (UCC):
None