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Report No. : |
335280 |
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Report Date : |
07.08.2015 |
IDENTIFICATION DETAILS
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Name : |
FIBERIO TECHNOLOGY CORPORATION |
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Registered Office : |
12400 W. Highway 71, Ste 350-164, Bee Cave, TX 78738 |
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Country : |
United State |
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Date of Incorporation : |
20.10.2009 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Manufactures and supplies nanofiber products and equipment. |
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No. of Employee : |
9 |
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 |
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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, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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United State |
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 |
UNITED STATE ECONOMIC OVERVIEW
The US has
the most technologically powerful economy in the world, with a per capita GDP
of $54,800. In 2014, however, US GDP ran second to China’s, when compared on a
Purchasing Power Parity basis; the US lost the top spot, where it had stood for
more than a century. In the US, 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 has been a driving
factor in 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. But the globalization of
trade, and especially the rise of low-wage producers, has put additional
downward pressure on wages and upward pressure on the returns to capital. 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
2014, the direct costs of the wars totaled more than $1.5 trillion, 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
dropped below 6.5% or inflation rose 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 ended the purchases during the summer of 2014. 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 |
FIBERIO TECHNOLOGY
CORPORATION
Mailing address: C/O
Postnet (which rents mailboxes)
12400 W. Highway 71, Ste
350-164, Bee Cave, TX 78738 - USA
Headquarters: 4409 W. Wanda Avenue, Ste B, McAllen, TX
78539 - USA
Telephone: +1
956-207-5448
Fax: +1 956-918-8957
Website: www.fiberiotech.com
Corporate ID#: 7473998
State: Delaware
Judicial form: Corporation
– Profit
Date incorporated:
10-20-2009
Stock: -
Value: -
Name of manager: Ellery
BUCHANAN
Business:
FibeRio Technology Corporation manufactures and supplies nanofiber products
and equipment.
The company offers force spinning equipment, and cyclone fiber engines
and systems.
Its products are used in filtration, textiles, nonwoven consumer
products, energy, catalytic, and healthcare applications.
The company sells its products through representatives in the United
States. FibeRio Technology Corporation has a strategic partnership with VF
Corporation.
The company was incorporated in 2009 and is based in McAllen, Texas.
Last news:
On April 8, 2015, FibeRio Technology Corporation announced a strategic
partnership with VF Corporation to develop and commercialize next-generation,
performance apparel fabrics leveraging FibeRio’s proprietary nanotechnology.
The partnership centers on FibeRio’s Forcespinning® technology platform and its
ability to produce unique nanofiber material in high volumes.
VF intends to incorporate FibeRio’s capabilities and expertise across
its three Global Innovation Centers which focus on advancements in performance
apparel, footwear and jeanswear.
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.
No name of foreign suppliers available.
EIN: 27-1150796
Staff: 9
Operations & branches:
At the headquarters, we
find a laboratory and office.
Shareholders:
This is a private Company.
Management:
Ellery BUCHANAN is the President, Director and CEO
He served as Executive Advisor of Renew Data Corp.
Mr. Buchanan served as Chief Executive Officer of Renew Data Corp. since
November 2006. Mr. Buchanan served as Chief Operating Officer of Renew Data
Corp., until January 30, 2007 and served as its Chief Financial Officer.
He served as Chief Executive Officer of Nanovance. Mr. Buchanan served
as Executive Vice President of the New Jersey Nanotechnology Consortium (NJNC).
He served as Senior Vice President of Marketing and Corporate
Development of Ultratech Inc. since August 2000. From July 2000 to December
2001, Mr. Buchanan served as Vice President of Strategic Planning of Ultratech
Stepper and from March 2000 to June 2000, he served as its Vice President of
Corporate Development.
Until February 2000, Mr. Buchanan served as President of Ultratech
Capital. Mr. Buchanan founded ISI, and served as its Chief Executive Officer
since 1993 and served as its President. From 1980 to 1993, Mr. Buchanan served
as Senior Vice President and General Manager of the Sales and Service Division
of GCA Corporation. He served as Corporate Controller and Director of
Operations Analysis of GCA Corporation. From 1977 to 1980, he served as Senior
Manager in the International Finance area with Polaroid Corporation. He serves
as Director of FibeRio Technology Corporation. He served as a Certified Public
Accountant, Manager of Price Waterhouse and Company. He is an accomplished
Entrepreneur and Senior Executive with 25 years of experience in strategic and
executive management positions. He served as Chairman of ISI. He served as a
Director of Renew Data Corp. In 2001, he was elected the inaugural Chairman of
the Advanced Packaging and Interconnect Alliance.
Mr. Buchanan received a BA degree from Gettysburg College and an MBA
from the University of Pennsylvania, Wharton Graduate Division.
Stephen KAY serves as COO.
He has served as Vice President of Product Development, Division President,
and General Manager for multiple semiconductor and nanotechnology equipment
manufacturing companies. The core of his experience is based in semiconductor
and nanotechnology lithography equipment although he served as President, North
America for Suss MicroTec Inc. He served as Vice President and General Manager
for Steag- Hamatech and Director of Product Marketing and Development for
Ultratech Inc.
He has successfully and profitably developed and brought numerous
semiconductor, nanotechnology and advanced packaging products to market.
Mr. Kay holds BS in Information Technology and Business from University
of Phoenix.
Karen LOZANO is the CTO.
Brian GILLIAM is the CFO.
Other Directors include Andrew KODIS, Ebetuel PALLARES, Bill WOOD,
Larry THOMPSON, and Pascal STIEGWART.
Subsidiaries
And partnership: None
In United States, privately
held corporations are not required to publish any financials.
On a direct call, nobody
accepted to answer our questions.
We sent a fax but no answer
received.
However, sales estimate for
year 2014 is in the range of USD 1,200,000=
The business is said to be
profitable.
Banks: JPMorgan Chase Bank
…
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary (UCC): None