MIRA
INFORM REPORT
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Name :
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EBERSPAECHER NORTH AMERICA, INC.
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Registered Office :
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29101 Haggerty
Road, Novi, MI
48377
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Country :
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United States
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Date of Incorporation :
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23.09.1999
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Legal Form :
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Corporation – Profit
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Line of Business :
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·
Engaged in Developing, Producing and Marketing
Diesel Engine Exhaust systems
for vehicles in North America.
Subject also offers Particulate Filters, Exhaust
Manifolds, and Mufflers.
Subject operates as a subsidiary
of Eberspächer Holding GmbH & Co. KG.
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No. of Employees
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630
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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 – March 31, 2014
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Country Name
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Previous Rating
(31.12.2013)
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Current Rating
(31.03.2014)
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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 & address
Company name: EBERSPAECHER NORTH AMERICA, INC.
Address: 29101 Haggerty Road, Novi,
MI 48377
- USA
Telephone: +1
248-994-7010
Fax: +1 248-994-7015
Website: www.eberpaecher.us
Company summary
Corporate ID#: 3101512
State: Delaware
Judicial form: Corporation – Profit
Date incorporated: 09-23-1999
Stock: 1,500
shares common
Value: No
par value
ACTIVITIES
& OPERATIONS
Business:
Eberspächer North America, Inc. develops, produces, and markets diesel engine
exhaust systems for vehicles in North America.
The company also offers particulate filters, exhaust manifolds, and mufflers.
It serves car and commercial vehicles manufacturers.
The company was incorporated in 1999 and is based in Novi, Michigan.
It operates an assembly plant in Tuscaloosa,
Alabama.
Eberspächer North America, Inc. operates as a subsidiary of Eberspächer
Holding GmbH & Co. KG.
Since March 4,
2013, the Company is also using the registered assumed name:
EBERSPAECHER EXHAUST TECHNOLOGIES OF THE AMERICAS
On April 9, 2014, The Company announced investing $122 million to expand
operations in Michigan.
The five-year expansion plan, beginning in late 2014, is expected to
create 545 new jobs to accommodate its growth, the German company said today.
Eberspaecher will triple its current 110,000-square-foot plant in Brighton, Michigan,
to support commercial contracts for exhaust systems and catalytic converters.
The expansion is expected to create a minimum of 100 new jobs at the plant.
It is supported by a $4.5 million Michigan Business Development Program
grant by the Michigan Economic Development Corp., as well as incentives from
the city of Brighton.
The company said it will acquire additional land to expand production
but declined to provide details on location.
The new land will support “incremental business, increased vertical
integration and optimization of its manufacturing footprint,” it said in a
release. A projected 445 new jobs will be created through 2019 for this phase
of the expansion.
Office of the Foreign
Assets Control (OFAC):
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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.
Suppliers include:
VICTORA AUTO PRIVATE LIMITED
PLOT NO. 176, SECTOR 25, DIST. FARIDABAD-121
004 HARY ANA (INDIA)
GRAND PRIX SILENCERS BV
DELFSTOFFENWEG 4 ROERMOND JH, 6045 NETHERLANDS
EIN: 38-3542936
Staff: 630
Operations & branches:
At the headquarters, we
find a factory, warehouse and office, owned.
It operates an assembly plant in Tuscaloosa,
Alabama
SHAREHOLDERS & MANAGERS
Shareholders:
Eberspächer Holding GmbH & Co. KG.
Eberspächerstraße 24, 73730 Esslingen am Neckar, Germany
Management:
Doug SWICK is the President and CEO
Graduate in 2011 from the University
of Michigan with a MBA in
Business.
Former Director of Operations in Argentina, with Visteon, from
December 2009 to February 2012.
As far as we know, he is involved in other corporations, including:
FINANCIALS
In United States,
privately held corporations are not required to publish any financials.
On a direct call, nobody
was available to answer our questions.
We sent a fax but no answer
received.
However, sales estimate for
year 2013 is in the range of USD 80,000,000=
The business is said to be
profitable.
In 2013, the revenue of the Eberspaecher Group rose to 2,916.4 million
Euros, compared to 2,826.5 million Euros in the previous year.
Banks: Chase Bank
LEGAL FILINGS
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary (UCC):
None