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Report Date : |
04.07.2014 |
IDENTIFICATION DETAILS
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Name : |
BEECHCRAFT CORPORATION |
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Formerly Known As : |
HAWKER BEECHCRAFT CORPORATION |
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Registered Office : |
10511 E. Central, Wichita, KS 67206 |
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Country : |
United States |
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Date of Incorporation : |
21.09.1993 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject designs, markets, and supports aviation products and services for businesses |
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No of Employees : |
9,000+ |
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 But Correct |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 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
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Source
: CIA |
Company name: BEECHCRAFT CORPORATION
Address: 10511 E. Central,
Wichita, KS 67206 - USA
Telephone: +1
316-676-7000
Fax: +1 316-676-8867
Website: www.beechcraft.com
Corporate ID#: 2098523
State: Kansas
Judicial form: Corporation –
Profit
Date incorporated: 09-21-1993
Stock: 1,000
shares common
Value: No
par value
Name of manager: Worth
W. BOISTURE
History:
Name changed from HAWKER BEECHCRAFT
CORPORATION on 02-26-2013.
Business:
Beechcraft Corporation designs, markets, and supports aviation products and
services for businesses, governments, and individuals worldwide.
The company offers Hawker 4000, a business jet; Hawker 900XP, a midsized
business jet; Hawker 750, a light-midsize business jet; Hawker 400XP, a light
jet for the fractional market and corporations; Hawker 200; Beechcraft Premier
IA, a light jet; Beechcraft King Air 350i and Beechcraft King Air 250 aircraft;
Beechcraft King Air C90GTx; Beechcraft Baron G58, a twin-engine piston
aircraft; Beechcraft Bonanza G36, a single-engine piston; T-6 airplane; AT-6;
and Beechcraft King Air 350ER.
The company also offers special-mission aircraft for militaries and
governments; military and special mission solutions; and turn-key training
systems, such as military training aircraft.
The company offers its products through representatives in Asia, the
Asia Pacific, Central America, Mexico, the Caribbean, Europe, the Middle East,
North America, and South America.
The company is based in Wichita, Kansas with operations in Salina,
Kansas; Little Rock, Arkansas; and Chester, United Kingdom.
EIN: 48-0135770
Staff: 9,000+
Operations & branches:
At the headquarters, we
find a large factory, warehouse and office.
Shareholders:
On 03-14-2014, Textron Inc. announced it has closed its acquisition of
BEECH HOLDINGS, LLC, the parent of Beechcraft Corporation, and that it
will bring together its Cessna business and Beechcraft to form a new segment
called Textron Aviation.
Cessna and Beechcraft together produced about USD 4.6 billion in
revenues during 2013.
Management:
Worth W. BOISTURE is the
President and Director has been Chief Executive Officer of Beechcraft
Corp. since February 15, 2013. Mr. Boisture serves as President of Hawker Beechcraft
Defense Company, LLC. Mr. Boisture serves as Chairman of the Board at Hawker
Beechcraft Inc and served as its Chief Executive Officer.
Mr. Boisture served as Chief Executive Officer and President of Hawker
Beechcraft Notes Co., since March 2009 and as its Principal Financial Officer.
He joined HBI in 2009. He serves as Chairman of Hawker Beechcraft Corporation.
He served as Chief Executive Officer of Hawker Beechcraft Acquisition Company,
LLC since March 23, 2009 and also served as its President. He served as an
Interim Chief Financial Officer of Hawker Beechcraft Acquisition Company, LLC
from January 25, 2011 to February 2011. He served as a Senior Advisor of The
Carlyle Group. He serves as President of Intrepid Aviation LLC. He served as
President of Netjets Aviation, Inc. from 2003 to January 11, 2007. He also
served as President of NetJets Inc. from 2003 to January 2006. Mr. Boisture
served as Consultant of NetJets Inc. since January 2006. He served in several
senior capacities at General Dynamics Corporation from 1994 to 2003, including
Executive Vice President and Group Executive of Aerospace division from July
1999 to April 11, 2003. Mr. Boisture also served as Chief Operating Officer and
President of Gulfstream Aerospace Corporation of General Dynamics Corp. from
December 1998 to March 2002. He served as an Executive Vice President of
Gulfstream Aerospace Corp. from February 1994 to December 1998. Prior to
Gulfstream Aerospace Corp., he served as President and Chief Executive Officer
of British Aerospace of Corporate Jets Limited from October 1992 to 1993.
Mr. Boisture served as President and Chief Executive Officer of Butler
Aviation from early 1990 to 1992. He served as President and Chief Executive
Officer of The Carlyle Group. He served as an Executive Officer of CAE
SimuFlite Inc. and Bombardier Aerospace Inc. He was honorably discharged as a
Major after 11 years of service in Canada. He also served in senior capacities
at Skyworld and Ports of Call Airlines, Simuflite Training International and
Candair (predecessor company to Bombardier Aerospace). He serves as Chairman of
the Board at Hawker Beechcraft Acquisition Company, LLC. Mr. Boisture served as
the Chairman of Butler Aviation from early 1990 to 1992 and served as Chairman
of The Carlyle Group. He has been a Director of Hawker Beechcraft Notes Co.,
since March 2009. He serves as a Director of the Association of Graduates U.S.
Air Force Academy. He serves as a Trustee of the Falcon Foundation. He served
as a Director of Triumph Aerostructures, LLC (Formerly Vought Aircraft
Industries Inc.) from November 2008 to April 2009. Mr. Boisture served as a
Director of Gulfstream Aerospace Corporation since February 1995 and Butler
Aviation from 1990 to 1992. He served as a Director of The Carlyle Group. He is
a Member of the World President Organization.
He earned his B.S. in Engineering Management from the U.S. Air Force
Academy and his M.B.A. from the University of New Haven. Mr. Boisture graduated
from the USAF Fighter Weapons School and the U.S. Navy Fighter Weapons School
("Topgun" school).
K.J. TJON is the Treasurer.
Subsidiaries
And partnership:
BEECH AIRCRAFT CORPORATION
RAPID AIRCRAFT PARTS INVENTORY AND DISTRIBUTION COMPANY LLC
HAWKER BEECHCRAFT GLOBAL CUSTOMER SUPPORT LLC
HAWKER BEECHCRAFT QUALITY SUPPORT COMPANY
HBC, LLC
Several changes are on the
way.
TEXTRON, INC., the new
ultimate parent company has founded
TEXTRON AVIATION INC.
1 Cessna Blvd, Bldg C1,
Wichita, KS 67215
Incorporated in Kansas on
05-13-2014
ID# 7761240
Stock: 1,000 shares common
at USD 1= par value
President, Director and
CEO: Scott A. ERNEST
Directors: Eric SALANDER
and Blake A. MEYEN
The goal is to bring together its Cessna business and Beechcraft
Corporation.
Banks: JPMorgan Chase Bank
…
Legal filings & complaints:
There are several legal filings pending with various Courts.
Secured debts summary (UCC):
Numerous
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 59.72 |
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1 |
Rs. 102.45 |
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Euro |
1 |
Rs. 81.54 |
INFORMATION DETAILS
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Analysis Done by
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KRN |
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Report Prepared
by : |
DPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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NB |
New Business |
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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.