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Report No. : |
354348 |
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Report Date : |
24.12.2015 |
IDENTIFICATION DETAILS
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Name : |
HALKEY-ROBERTS CORPORATION |
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Registered Office : |
2700 Halkey Roberts Place North, St Petersburg, FL 33716 |
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Country : |
United States |
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Date of Incorporation : |
14.08.2009 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Engineers, manufactures, and sells medical, inflation, and pressure
relief products for the OEM market. |
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No. of Employee : |
483 (for the group) |
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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 |
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 STATES ECONOMIC OVERVIEW
The US
has the most technologically powerful economy in the world, with a per capita
GDP of $54,800. US firms are at or near the forefront in technological advances,
especially in computers, pharmaceuticals, and medical, aerospace, and military
equipment; however, their advantage has narrowed since the end of World War II.
Based on a comparison of GDP measured at Purchasing Power Parity conversion
rates, the US economy in 2014, having stood as the largest in the world for
more than a century, slipped into second place behind China, which has more
than tripled the US growth rate for each year of the past four decades.
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.
Long-term
problems for the US 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.
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 such as China, has put additional downward pressure on wages
and upward pressure on the return 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 and oil has a major impact on the
overall health of the economy. 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, the US Congress established a $700 billion
Troubled Asset Relief Program (TARP) in October 2008. 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. US revenues from taxes and
other sources are lower, as a percentage of GDP, than those of most other
countries.
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.
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. In
2014, the unemployment rate dropped to 6.2%, and continued to fall to 5.5% by
mid-2015, the lowest rate of joblessness since before the global recession
began; inflation stood at 1.7%, and public debt as a share of GDP continued to
decline, following several years of increase.
|
Source
: CIA |
Company name: HALKEY-ROBERTS
CORPORATION
Address: 2700 Halkey Roberts
Place North, St Petersburg, FL 33716 –
USA
Telephone: +1
727-471-4200
Fax: +1 727-578-0450
Website: www.halkeyroberts.com
Corporate ID#: 4720734
State: Delaware
Judicial form: Corporation – Profit
Date incorporated: 08-14-2009
Stock: --
Value: --
Name of manager: David BATTAT
Business:
Halkey-Roberts Corporation engineers, manufactures, and sells medical,
inflation, and pressure relief products for the OEM market.
It offers plastic components and subassemblies used in disposable
medical devices, such as needle free swabable, lock access, one-way, activated,
tube end, and pressure relief/activated valves; and tubing clamps, hand pumps,
and medical closures and tubing flanges.
The company also offers inflator systems for commercial, aviation, and
recreational life vests and associated safety devices, including
manual/automatic inflators, oral tube assemblies, right angle connectors, oral
tube/tube end relief valves, manifolds, inflation tubing flanges, inflation
closures, and inflation valves.
In addition, it offers pressure relief valves for applications in
aviation, transportation, military, and medical industries, such as one-way
pressure and vacuum relief, dual action breather, and automatic relief valves,
as well as boat valve systems. The company was founded in 1941 and is based in Saint
Petersburg, Florida. As of May 21, 1996, Halkey-Roberts Corporation operates as
a subsidiary of ATRION 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.
No name of foreign suppliers available.
EIN: 59-2013247
Staff: 483 (for the group)
Operations & branches:
At the headquarters, we
find a factory, warehouse and office.
Shareholders:
ATRION CORP.
One Allentown Parkway,
Allen, Texas 75002
(The Company is listed with
the Nasdaq under symbol ATRI)
Management:
David BATTAT is President, Director and CEO.
He has been the Chief Executive Officer of ATRION Corp. since May 26,
2011 and
has been its President since May 15, 2007. Mr. Battat has been the President of Halkey-Roberts Corporation, a
subsidiary of ATRION Corp. since January 2006. He served as the Chief Operating
Officer at ATRION Corp. since May 15,
2007 until May 2011. He served as Vice President Business Development
and General Counsel of Halkey-Roberts from February 2005 to January 2006.
From 2002 to 2004, Mr. Battat was engaged in the private practice of
law.
Mr. Battat holds a Bachelor of Arts degree from Harvard University and a
Juris Doctor degree from Columbia University School of Law.
Emile A. BATTAT, Chairman and Director.
He served as the Chief Executive Officer at ATRION Corp. from October
1998 to May 26, 2011. Mr. Battat served as the President of AlaTenn Pipeline
Company LLC, Atrion Leasing Company LLC, Atrion Medical Products Inc., Quest
Medical Inc. from October 1998 to May 15, 2007. He served as President of
Halkey-Roberts Corporation of ATRION Corp. from October 1998 to January 2006.
He served as President and Chief Executive Officer of Piedmont Enterprises,
Inc. from 1994 until 1998. Mr. Battat
served as the President and Chief Executive Officer of Minemet, Inc. from
August 1978 to February 1994. From 1965 to 1978, he served with Kaiser
Industries and its affiliates, a diversified industrial group, in various
functions including strategic planning, diversification, acquisitions and
divestitures, with the last nine years as Vice President and Director of Kaiser
International. Mr. Battat has been an Executive Chairman of ATRION Corp. since
January 1998. He served as Chairman and Director of Quest Medical Inc., Halkey-Roberts
Corporation, Atrion Medical Products Inc., Atrion Leasing Company LLC and
AlaTenn Pipeline Company LLC since October 1998 until May 2011. He has been
Executive Director of ATRION Corp., since 1987.
He is an associate member of Sigma Xi, a scientific honor society.
Mr. Battat holds Bachelor of Science and Master of Science degrees in
Mechanical Engineering from Massachusetts Institute of Technology and a Master
of Business Administration degree from Harvard University.
Jeffery STRICKAND, Vice President, Secretary and Director.
Alan KING, John A. LUCIUS, and Lewis P. LECCEARDONE, Directors.
In United States, privately
held corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report and confirmed that all
financials are consolidated into the parent Company which reported revenue for
year 2014 up to USD 140,800,000= and a net profit of
USD 27,800,000=
Banks: South Trust Bank
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts
summary (UCC):
File number: 201105412898
Date filed: 10-03-2011
Lapse date: 10-03-2016
Secured Party: MARUKA USA INC
1210 NE Douglas Lee's
Summit MO 640