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Report No. : |
302461 |
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Report Date : |
15.01.2015 |
IDENTIFICATION DETAILS
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Name : |
ACS INDUSTRIES, INC. |
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Formerly Known As : |
AMERICAN COPPER SPONGE, INC |
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Registered Office : |
One New England Way Lincoln, RI 02865 |
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Country : |
United
States |
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Date of Incorporation : |
17.07.1969 |
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Legal Form : |
Incorporated Company |
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Line of Business : |
Manufactures and supplies knitted wire mesh
solutions worldwide. |
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No. of Employees : |
2000 |
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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 |
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 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
|
Source
: CIA |
COMPANY NAME AND
ADDRESS
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Legal Name: |
ACS INDUSTRIES, INC. |
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Trade Name: |
CARPET MAKER MILL OUTLET |
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RFC: |
71
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Date Created: |
1939 |
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Date Incorporated: |
07/17/1969 |
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Legal Address: |
One New England Way |
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Operative Address: |
One New England Way |
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Telephone: |
401-769-4700 |
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Fax: |
401-333-2294 |
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Legal Form: |
Incorporated Company |
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Email: |
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Registered in: |
Rhode Island |
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Website: |
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Manager: |
Mr. Steven N. Buckler |
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Staff: |
2000 |
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Activity: |
Abrasive Product Manufacturing |
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BANKS |
Central Bank of America |
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The company does not make its banking data public |
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HISTORY |
The company was formerly known as American Copper Sponge, Inc. and
changed its name to ACS Industries, Inc. in 1960. ACS Industries, Inc. was founded
in 1939 and is headquartered in Lincoln, Rhode Island with regional sales
offices worldwide. It has production facilities in Monterrey, Mexico; and
Shanghai, China. |
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PRINCIPAL ACTIVITY |
ACS Industries, Inc. manufactures and supplies knitted wire mesh
solutions worldwide. |
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Products/Services description: |
It offers automotive wire mesh components, such as diesel exhaust
products, air bag filters, exhaust system components, and emissions control
components. The company also offers fabricated components, which include roll
formed tubes and woven wire mesh components. In addition, it offers
industrial wire mesh components, including knitted and woven wire mesh
products, and specialty wire products, as well as removable and reusable
insulation products, EMI/RFI shielding products, copper cleaning products,
wire mesh pads, gaskets and seals, mufflers and silencers, and industrial
non-woven materials. Further, the company offers flame arrestors, heat shield
isolators and vibration dampeners, bushings and bearings, heat transfer and
exchange components, diamond wire drawing dies, and specialty wires. |
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Brands: |
Scrubble® / ACS |
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Sales are: |
Wholesale |
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Clients: |
Its products are used in automotive, aerospace, industrial processing,
and electronics industries, as well as on-road, off-road vehicle, and
non-road applications. |
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Competitors: |
Keystone Consolidated Industries, Inc. |
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Suppliers: |
HeBei JieTong Wire Cloth Co.,Ltd. |
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Operations area: |
National & International |
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The company imports from |
China |
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The company exports to |
No exports registered |
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The subject employs |
2000 employees |
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Payments: |
No complaints |
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LOCATION
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Headquarters : |
One New England Way |
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Branches: |
The company does not have branches |
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Industry: |
Companies in this industry manufacture coated and bonded abrasive
products, including grinding wheels, sandpaper, and abrasive grains. Major
companies include 3M (US), Noritake (Japan), Saint-Gobain (France), and
Tyrolit (Austria). |
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GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
Total Authorized Shares |
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Shareholders %: |
This is a private company. Despite our long search, we could not confirm
major holder. |
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Management: |
Steven Buckler, President |
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Related Companies: |
Subsidiaries: |
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ACS Internacional S. de R.L
de C.V. |
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Monterrey, Mexico: established pre-NAFTA in 1987 to keep rising labor
costs in check, ACS Internacional S. de R.L. de C.V. operates with just under
1,000,000 sq. ft. of manufacturing space.
Onsite, value adding assets include tool and equipment design and
construction, a state of the art machine shop and the world’s largest
vertically integrated knitted wire mesh manufacturing facility with more than
550 knitting machines and a wire mill that draws over 15 million lbs. of fine
wire per year. |
FINANCIAL INFORMATION
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This is a private company which does not make its financial figures
public. |
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2013-USD |
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Revenue |
130 000 000 |
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Cash Flow |
Good |
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LEGAL FILINGS
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UCC History |
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ACS INDUSTRIES, INC. |
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Largest Contracts |
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SUMMARY
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Acs Industries Inc. is a large-sized abrasive product manufacturer in
Lincoln, Rhode Island. It started in 1939 and now has $130 million in yearly revenue
and 2,000 employees. |
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RISK INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
No complaints |
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CASH FLOW |
Normal |
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STATUS |
Active |
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ENTERVIEW
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NAME |
Dan |
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POSITION |
Transferred by the receptionist |
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COMMENTS |
He confirmed address, activity, president and subsidiaries. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.15 |
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1 |
Rs.94.24 |
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Euro |
1 |
Rs.73.30 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIS |
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.