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Report Date : |
18.03.2014 |
IDENTIFICATION DETAILS
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Name : |
THORDON BEARINGS INC. |
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Registered Office : |
3225 Mainway, Burlington, Ontario L7M 1A6 |
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Country : |
Canada |
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Year of Establishments: |
1911 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
supplier of high performance, oil and grease-free bearing
systems to the global marine, clean energy, pump, hydro-turbine, offshore oil
and other industrial markets. |
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No. of Employees |
120 |
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 : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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Canada |
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 |
Canada ECONOMIC OVERVIEW
As an affluent, high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and affluent living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in trade and economic integration with the US its principal trading partner. Canada enjoys a substantial trade surplus with the US, which absorbs about three-fourths of Canadian exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, uranium, and electric power. Given its great natural resources, highly skilled labor force, and modern capital plant, Canada enjoyed solid economic growth from 1993 through 2007. Buffeted by the global economic crisis, the economy dropped into a sharp recession in the final months of 2008, and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus. Canada's major banks, however, emerged from the financial crisis of 2008-09 among the strongest in the world, owing to the financial sector''s tradition of conservative lending practices and strong capitalization. Canada achieved marginal growth in 2010-12 and plans to balance the budget by 2015. In addition, the country''s petroleum sector is rapidly becoming an even larger economic driver with Alberta''s oil sands significantly boosting Canada''s proven oil reserves, ranking the country third in the world behind Saudi Arabia and Venezuela.
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Source : CIA |
Company name: THORDON
BEARINGS INC.
Address: 3225 Mainway, Burlington, Ontario
L7M 1A6 - Canada
Telephone: +1
905-335-1440
Fax: +1 905-335-4033
Website: www.thordonbearings.com
Corporate ID#: ON-000910124
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: 08-31-1990
Date founded: 1911
Stock: -
Value: -
Name of manager: Terry
McGOWAN
Business:
Thordon Bearings Inc. is the leading supplier of high performance, oil and grease-free
bearing systems to the global marine, clean energy, pump, hydro-turbine,
offshore oil and other industrial markets.
Thordon systems and bearings are available worldwide through over 70
agents and distributors.
Marine Market - propeller shaft, stern tube, rudder and deck equipment journal
bearings for commercial, naval and workboat markets.
Thordon marine products are found on tankers, bulkers, dry cargo,
dredge, container, cruise, yacht, offshore, ferry, workboat, navy and coast
guard vessels.
Clean Energy Market- Thordon water lubricated hydro-turbine applications
include main shaft guide, wicket gate, operating mechanism bearings and radial
and axial shaft seals. For wave, tidal and current power generation, Thordon
offers a choice of water-lubricated bearings, each delivering specific
advantages in unique water environments and operating conditions.
Pump and Industrial Market- Thordon manufactures vertical pump bearings
that can operate dry or in very abrasive mediums. Grease free Thordon bearings
are available for your tough industrial applications. ThorPlas bearings operate
pollution free without grease replacing greased bronze bearings.
Thordon bearing systems offer exceptional wear life, a low coefficient of
friction and can be easily machined on site. In-house design engineers consult
with customers to provide innovative bearing system designs that meet or exceed
the customer’s technical requirements.
Thordon Bearings’ engineering and quality focus has earned worldwide
recognition. Quality procedures are certified to the ISO 9001:2008 Quality
System.
Thordon bearing systems are proven, cost effective, environmentally
positive solutions for both marine and industrial applications.
Main clients include U.S. Coast Guard,
Princess Cruises, COSCO, Dubai Drydocks, Canadian Navy, Rolls Royce Marine…
The Company exports worldwide.
Staff: 120
Operations & branches:
At the headquarters, we
find a factory, warehouse and office, on
80,000 sq. ft. owned.
Shareholders:
THOMSON-GORDON GROUP, INC.
3225 Mainway, Burlington, Ontario L7M 1A6 - Canada
Thomson-Gordon Group, Inc., through its subsidiaries, designs and
manufactures journal bearing solutions for marine, pump, hydro-turbine,
offshore oil, and other industrial markets. The company also provides bearings
and seals for the aircraft industry. It sells its products through distributors
and agents.
Management:
George A. THOMSON, Chairman
He attended Northrop University in
Inglewood, California studying Aircraft Maintenance Engineering but graduated
as a Mechanical Engineer.
After working with A.W. Chesterton, in 1965
Mr. Thomson joined the family business, Thomson-Gordon.
Terry McGOWAN, President and COO
He Joined Thomson-Gordon Group in July 2007 as General Manager Thordon Bearings
Inc. and was promoted to Chief Operating Officer Thomson-Gordon Group in
February 2008 and President, Thomson-Gordon Group/Thordon Bearings Inc. in
January 2010. Mr. McGowan graduated from McMaster University, Canada with a
Bachelor of Engineering, Chemical in 1986 and received designation as a
Professional Engineer (P.Eng.) in the Province of Ontario 1988.
Anthony MEDIC is the CFO
As far as we know, they are involved in other corporations of the group.
In Canada, 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 CAD 25,000,000=
The business is profitable.
Banks: Scotia Bank
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None