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Report Date : |
10.05.2014 |
IDENTIFICATION DETAILS
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Name : |
HYDRANAUTICS |
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Registered Office : |
401 Jones Road, Oceanside, CA 92058 |
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Country : |
United States |
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Date of Incorporation : |
30.06.1975 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Manufactures membrane products for the
water treatment industry in the United States and internationally. |
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No. of Employees |
275 |
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
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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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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately 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 |
HYDRANAUTICS
Address: 401
Jones Road, Oceanside, CA 92058 - USA
Telephone: +1
760-901-2500
Fax: +1
760-901-2578
Website: www.membranes.com
Corporate ID#: C0739226
State: California
Judicial form: Corporation
– Profit
Date incorporated: 06-30-1975
Stock: -
Value: -
Name of manager: Brett ANDREWS
Business:
Hydranautics, Inc. develops and manufactures
membrane products for the water treatment industry in the United States and
internationally.
It offers HYDRAcap MAX that provides
treatment to reverse osmosis and nanofiltration of water; ESNA1-LF,
nanofiltration membranes, which are used for softening applications and the
removal of pesticides, bacteria, and viruses; energy-saving polyamide
membranes; CPA membranes that provide salt rejection rates; seawater composite
membranes, which are used for seawater desalination; low fouling composite
membranes that reduce fouling in wastewater and surface water; and HYDRAcap, which is used to treat
surface, ground, sea, and waste water. The company also provides DairyRO
membranes that are used for pre-concentrating milk and whey, concentrating whey
UF permeate, and polishing whey and milk RO permeate for plant reuse; and SanRO
Membrane, which is used in USP water purification systems.
In addition, it offers DairyUF membranes for
fractionating, purifying, and dewatering of milk and cheese whey; and for whey
protein concentration before evaporating and spray-drying. The company’s
products are used in various applications in potable water, boiler feedwater,
industrial process water, wastewater and surface water treatment, seawater
desalination, electronic rinse water, agricultural irrigation, and
pharmaceuticals.
It offers its products through distributors
in Europe, India, Africa, Belgium, Holland, Czech Republic, Slovak Republic,
Switzerland, Germany, Israel, Italy, Portugal, Spain, Turkey, Saudi Arabia, the
Middle East, the Russian Federation, and the United States.
Hydranautics, Inc. was founded in 1963 and
is based in Oceanside, California with additional offices in North America, Central/South
America, Europe, India, Pakistan, the Russian Federation, Turkey, Israel, the
Middle East, and the Asia Pacific.
Hydranautics, Inc. operates as a subsidiary
of Nitto Denko Corp.
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.
Suppliers include:
HATTORI TAKESHI CO., LTD.
2-16-8,NISHIKI, NAKA-KU NAGOYA 480-0003 JAPAN
EIN: 95-2949422
Staff: 275 + part
time
Operations & branches:
At the headquarters, we find a factory, warehouse and office, owned.
The Company maintains several branches in the U.S.
Shareholders:
NITTO DENKO AMERICA INC.
Fremont, CA 94538 – USA
which is a subsidiary of:
NITTO DENKO CORPORATION
Grand Front Osaka, Tower A, 32-33 Floor,
4-20, Ofuka-cho
Kita-ku, Osaka, 530-0011, Japan
Management:
Brett ANDREWS has been Chief Executive
Officer and Managing Director of Hydranautics in October 2013.
He served as its Vice President of Sales
& Marketing, President and Chief Operating Officer. Mr. Andrews has over 18
years of experience in the water treatment chemical field. He served as Global
Business Manager for Nalco's membrane strategic business unit.
Mr. Andrews is a graduate of Thames Valley
University, UK (Chemistry) and North London University, UK (Polymer
Technology).
K. Scott JACKSON serves as Vice President of
Business Operations.
He held senior management roles in the
desalination and membrane application industry for more than 24 years, with
extensive experience in new and emerging technology companies.
Mr. Jackson began his professional career in
the U.S. House of Representatives where he served as Senior Legislative Analyst
active in a variety of public policy issues.
Subsidiaries
And partnership: None
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 150,000,000=
The business is profitable.
Banks: Bank of America
Legal filings & complaints:
As of today date, there is no legal filing
pending with the Courts.
Secured debts summary (UCC):
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Haut du formulaire
Trade references:
Date reported: March 2014
High credit: USD 25,000
Now owing: 0
Past due: 0
Last purchase: February 2014
Line of business: Office
supply
Paying status: 6 days beyond
terms
Date reported: March 2014
High credit: USD 350,000
Now owing: 0
Past due: 0
Last purchase: February 2014
Line of business: Payroll
Paying status: As agreed
Date reported: March 2014
High credit: USD 2,000
Now owing: 0
Past due: 0
Last purchase: February 2014
Line of business: Telecommunications
Paying status: 5 days beyond
terms
Domestic credit history:
Domestic credit history appears as follow:
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Monthly
Payment Trends - Recent Activity
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National Credit Bureaus gave a medium credit rating.
According to our credit analysts, during the
last 6 months, domestic payments were made with an average of 5 to 10 days
beyond terms.
International
credit history:
Payments of imports are currently made with
an average of 2 to 5 days beyond terms.
Other comments:
The Company maintains a regular business.
The bank confirmed some late payments.
The Company is in good standing.
This means that all local and federal taxes were paid on due date.
The risk is medium.
Our opinion:
A business connection may be conducted but we suggest you to check
regularly the way of payments.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.05 |
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1 |
Rs.101.65 |
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Euro |
1 |
Rs.83.07 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
PDT |
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.