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Report No. : |
312978 |
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Report Date : |
21.03.2015 |
IDENTIFICATION DETAILS
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Name : |
ELLIOTT COMPANY |
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Registered Office : |
901 N. 4th Street, Jeannette, PA 15644 |
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Country : |
United State |
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Date of Incorporation : |
25.08.1993 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject is engages in the design, manufacture, supply, and service of
turbomachinery for oil and gas, refining, LNG, petrochemical, power generation |
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No. of Employees : |
1,200 |
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 : |
Exist |
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 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 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 |
ELLIOTT COMPANY
Address: 901 N. 4th
Street, Jeannette, PA 15644 - USA
Telephone: +1
724-527-2811
Fax: +1 724-600-8442
Website: www.elliott-turbo.com
Corporate ID#: 2348743
State: Delaware
Judicial form: Corporation – Profit
Date incorporated: 08-25-1993
Date founded: 1895
Stock: -
Value: -
Name of manager: Arthur R. TITUS
Business:
Elliott Company, Inc. engages in the design, manufacture, supply, and
service of turbomachinery for oil and gas, refining, LNG, petrochemical, power
generation, and plant oils applications in the United States and
internationally.
The company offers centrifugal and axial compressors, steam turbines and
power recovery expanders, buffer systems and control consoles, and lubrication
systems for rotating equipment; turbine generator sets; sealing, fuel, and
piping systems; and parts. It also provides repair, field, high speed rotor
balancing, technical service library, training, equipment storage, turbine
remanufacturing, retreating, overhaul, upgrade and retrofit, machine rerate,
and installation services.
The company’s products are used in various applications, including oil
and gas production and processing, refineries, chemical processing plants,
steel mills, electric generating stations, sugar mills, pulp and paper mills,
plant oil processing plants, municipal steam and waste facilities; and
distilling, food processing, institutional steam systems, primary metals,
medical centers, palm oil, universities, correctional institutions, biomass,
and geothermal applications.
Elliott Company, Inc. was formerly known as Elliott Turbomachinery Co.,
Inc. The company was founded in 1895 and is headquartered in Jeannette,
Pennsylvania with manufacturing facilities in Jeannette, Pennsylvania; and
Sodegaura and Chiba, Japan.
Elliott Company, Inc. operates as a subsidiary of Ebara Corp.
Suppliers
include:
KIRLOSKAR EBARA PUMPS LTD
GAT NO. 904, SAWANTPUR VASAHAT P.O. KIRLOSKARWADI SANGLI 416308 INDIA
BEIJING TRI-CONSEN AUTOMATION CO.
1TH 3# BLD., TIANZHU OUTPUT PRODUCT BEIJING P.R. CHINA
EIN: 25-1555755
Staff: 1,200
Operations & branches:
At the headquarters, we find a factory, warehouse and office, on
114,000 sq. feet, owned.
The Company maintains several branches including:
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Shareholders:
EBARA CORP.
11-1, Haneda Asahi-cho
Ohta-ku
Tokyo, 144-8510 - Japan
Ebara Corporation engages in the manufacture and sale of industrial
machinery in Japan, China, Asia, North America, and internationally.
It primarily offers fluid machinery and systems, such as customized
pumps for seawater desalination, high-pressure pumps for electric power
generators, process pumps for oil and gas market, and submersible pumps for
sewage treatment applications, as well as blowers, fans, compressors, turbines,
refrigeration and heating equipment, nuclear power related equipment, and other
products. The company also provides engineering, construction, operation, and
maintenance services for hydroelectric power plants.
In addition, it offers environmental improvement equipment, incinerator
plants, waterworks and sewage system, and other plants and equipment, as well
as manufactures and sells industrial chemicals.
Further, the company provides precision machinery equipment, dry vacuum
pumps, turbomolecular pumps, gas abatement systems, chemical mechanical
polishing systems, plating systems, ozone systems, and other machinery and
equipment used in the semiconductor manufacturing industry.
Ebara Corporation was founded in 1912 and is headquartered in Tokyo,
Japan.
The Company is listed in Tokyo.
Management:
Arthur R. TITUS is the President and CEO.
He joined Elliott in January 2007 as
Director of Sales and Marketing for Engineered Products. In April of that year
he was appointed Vice President of Engineered Products. He came to Elliott from
VetcoGray in Houston, Texas, where he served as Vice President of Surface
Completion.
Prior to joining VetcoGray in 2004, Mr.
Titus worked for Dresser-Rand for nearly 30 years, advancing to Vice President
and General Manager of Dresser-Rand’s operations in Olean and Wellsville, New
York.
He holds a B.S. in Engineering from
Clarkson University in Potsdam, New York.
Eugene O’SULLIVAN is Vice President and CFO
Subsidiaries
And partnership: None
In United States, privately
held corporations are not required to publish any financials.
On a direct call, nobody
was available to answer any questions.
We sent a fax but no answer
received.
Sales declared for year
2014 is in the range of USD 600,000,000=
The business is profitable.
Banks: Mid-Atlantic Corporate Federal Credit Union
1201 Fulling Mill Road, Middletown, PA 17057
Legal filings
& complaints:
As of today date, there are several legal filings pending with various
Courts, involving the Company as plaintiff or defendant.
Secured debts summary (UCC):
Several
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.49 |
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1 |
Rs.92.26 |
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Euro |
1 |
Rs.66.80 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
ANK |
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.