MIRA
INFORM REPORT
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Name :
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PELICAN PRODUCTS, INC.
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Registered Office :
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23215 Early Avenue, Torrance,
CA 90505
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Country :
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United States
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Date of Incorporation :
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24.01.2007
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Legal Form :
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Corporation – Profit
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Line of Business :
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Design and Manufacture of lighting systems and indestructible cases
for protecting valuable equipment.
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No. of Employees :
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600
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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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Slow but correct
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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
Company name: PELICAN PRODUCTS, INC.
Address: 23215 Early Avenue, Torrance,
CA 90505
- USA
Telephone: +1
310-326-4700
Fax: +1 310-326-3311
Website: www.pelican.com
Company Summary
Corporate ID#: 4281788
State: Delaware
Judicial form: Corporation – Profit
Date incorporated: 01-24-2007
Stock: -
Value: -
Name of manager: Lyndon
John FAULKNER
ACTIVITIES
& OPERATIONS
IST
Business:
Pelican Products, Inc. engages in the design and manufacture of lighting
systems and indestructible cases for protecting valuable equipment.
The company’s products include calculator, laptop, original equipment
manufacturer custom, military and government, and airline cases, as well as
personal, tactical, specialty, heavy duty, and military and government lights.
It offers products for firefighters, police, military, outdoor enthusiasts, and
industrial users. The company offers products through its distribution centers
in Stepney, Australia;
Edmonton, Canada;
Barcelona, Spain;
Glendene, New
Zealand; Honcho, Japan; and Shanghai,
China.
Pelican Products, Inc. was founded in 1976 and is based in Torrance, California.
Office of the Foreign
Assets Control (OFAC):
The company is not listed on the OFAC list.
The Specially Designated Nationals (SDN) List is a publication of OFAC
which lists individuals and organizations with whom United States citizens and
permanent residents are prohibited from doing business.
Foreign suppliers
include:
Hakuba Photo Industry Co Ltd
1-3-7, Kamezawa, Sumida-ku, Tokyo,
130-0014 - Japan
EIN: 95-3259634
Staff: 600
Operations & branches:
At the headquarters, we
find a factory, warehouse and office, owned.
SHAREHOLDERS & MANAGERS
Shareholders:
BEHRMAN BROTHERS MANAGEMENT
COR.
1 Maritime Plaza, Ste
1555, San Francisco,
CA 94111
Management:
Lyndon J. FAULKNER,
President, Director and CEO.
He serves as Chief Executive Officer and President of Peli Products,
S.L.
Mr. Faulkner has been Chief Executive Officer of Pelican Products, Inc.
since September 1, 2006 and serves as its President.
Mr. Faulkner serves as the Chief Executive Officer and President of Peli
AALG Ltd. He served as General Manager, Americas Operations Group of Microsoft
Corporation. He started his career with Nimbus CD International Inc. in 1987
and served as President and Chief Executive Officer since October 1992 and
Treasurer since August 1996.
He served as Manufacturing Director of Nimbus Limited from 1985 to
October 1992 and was responsible for the design and development of the
manufacturing process.
He oversaw strong growth at Nimbus and worked with Behrman Capital to take
its public on NASDAQ market in 1995. Nimbus was later sold to Carlton
Communications, which merged Nimbus with its Technicolor subsidiary.
Mr. Faulkner served as Chairman of the Board of Nimbus CD International
Inc., since March 1995 and its Director since October 1992.
Mr. Faulkner served as a Director of Tad Coffen Performance Saddles
Inc., a privately owned company.
He is also the President and CEO at HARDIGG INDUSTRIES, INC.
Mr. Faulkner educated in electrical and electronic engineering in United Kingdom.
John PADIAN serves as the Chief Operating Officer of Peli Products, S.L.
and Pelican Products, Inc. Mr. Padian served as Vice President of Sales of
Pelican Products, Inc. Mr. Padian's day-to-day operational responsibilities and
in-depth knowledge of the business drive the effective execution of a diverse
set of objectives. He is directing an aggressive growth strategy with an
exponential increase in sales and infrastructure around the globe. Pelican has
recently positioned itself worldwide boasting offices in many locations such as
Australia, Canada, Spain,
China, Japan, Korea
and India.
They are also working to establish offices across Europe and the Middle East. He has a a sizable and growing staff in New
Product Development, Manufacturing and Market Research he is guiding the
company to new heights with new market penetration and product expansion in all
areas of business, including the military, fire, police and recreational
industries. To support these objectives, Padian has led the initiative to
expand the company's manufacturing capacity to include a plant in Crottendorf, Germany as well as domestic
distribution centers on both coasts. His 30 year career at Pelican he has
contributed to the company's remarkable success and to making it the global
manufacturer that it is today. Prior to his promotion as Vice President of
Sales in 2002, Padian served in several sales positions. Before settling in the
Sales department in 1989, he successfully managed a wide variety of departments
including Purchasing, Inventory Control and Production.
He holds a bachelor's degree in Business from the California
State University
at Long Beach.
Don JORDAN is the CFO.
Subsidiaries and
partnership:
HARDIGG INDUSTRIES, INC.
147 North Main
Street, South Deerfield, MA 01373
MINNESOTA THERMAL SCIENCE, LLC
3020 Niagara
Lane North, Plymouth, MN 55447
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.
Sales declared for year
2013 is in the range of USD 51,800,000=
The business is profitable.
Banks: Bank of America
LEGAL FILINGS
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts
summary (UCC):
File number: 06-7070158317
Date filed: 05-15-2006
Lapse date: 05-15-2016
Secured Party: BANC OF AMERICA
LEASING & CAPITAL, LLC
P.O. Box 7023, Troy,
MI48007