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Report No. : |
347412 |
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Report Date : |
06.11.2015 |
IDENTIFICATION DETAILS
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Name : |
THE GSI GROUP, LLC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
30.04.1964 |
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Legal Form : |
LLC |
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Line of Business : |
Subject is manufacturer of grain storage, material handling,
conditioning, and drying equipment. |
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No. of Employee : |
1,916 |
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 : |
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, 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.
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. 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.
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Source
: CIA |
THE GSI GROUP, LLC
1004 E. Illinois Street, Assumption, IL 62510 - USA
Telephone: +1
217-226-4421
Fax: +1 214-226-4420
Website: www.gsiag.com
Corporate ID#: 0610523
State: Delaware
Judicial form: LLC
Date incorporated: 04-30-1964
Stock Value: A
LLC has no stock
Name of manager: Andrew H. BECK
Business:
The GSI Group, LLC manufactures grain storage, material handling,
conditioning, and drying equipment for the agriculture industry.
It offers commercial storage and drying products, including steel farm
and commercial bins, hopper tanks, and grain silos; material handling products,
such as bin unloading systems, conveyors, ad bucket elevators, sweeps, chain
loop systems, and grain spreaders; and farm storage, drying, and conditioning
products, including farm storage bins, dry systems, fans and heaters, modular
tower dryers, and portable and tower dryers.
It offers swine storage and delivery products, such as bulk feed tanks,
feed delivery systems, chain disks, drop and stainless steel feeders,
dispensers, and electronic sow feeding products; swine climate control
products, including ventilation, curtain machine, filtration, PVC planking, and
hog hearth products; and poultry and swine equipment, such as heat, mist, and
water consumption products for poultry houses, hog barns, and greenhouses.
It offers poultry feeding, watering, and nesting products, including
broiler, breeder, and turkey feeders; poultry
environmental control solutions, such as galvanized and fiberglass fans,
evaporative cooling products, heating systems, and tunnel inlet door systems;
I-Box 360°, an information system to track and manage poultry houses; curtain
controllers, curtains, doors, and sidewalls; and installation and advisory
services. It markets its products through a network of dealers, grain/protein
producers, and large commercial businesses worldwide.
The company was incorporated in 1964 and is based in Assumption,
Illinois with manufacturing facilities in Taylorville, Newton, Paris, Flora,
and Vandalia, Illinois; Bremen, Alabama; St. Hubert, Canada; Penang, Malaysia;
Johannesburg, South Africa; Queretaro, Mexico; Marau, Brazil; and Shanghai,
China.
As of November 30, 2011, The GSI Group, LLC operates as a subsidiary of
AGCO Corporation.
The Company exports to Central and South America.
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.
EIN: 37-0856587
Staff: 1,916
Operations & branches:
At the headquarters, we
find the corporate headquarters, including a large factory, warehouse and
office, owned.
Additional manufacturing facilities are located in Taylorville-IL,
Newton-IL, Paris-IL, Flora-IL, Vandalia-IL, Bremen-AL, St. Hubert-Canada,
Penang-Malaysia, Johannesburg-South Africa, Queretaro-Mexico, Marau-Brazil, and
Shanghai-China.
Shareholders:
AGCO CORPORATION
4205 River Green Parkway
Duluth, GA 30096
(listed with the NYSE under
symbol AGCO)
On November 30, 2011, AGCO CORPORATION acquired GSI for USD 932.2
million,
net of approximately USD 27.9 million cash acquired.
Management:
- Andrew H. BECK
- Thomas F. WELKE
- David K. WILLIAMS
Subsidiaries And
partnership:
GSI Group - Brazil
GSI/Cumberland de Mexico, CP
GSI Group - Shanghai Co. Ltd
GSI Group - Suzhou Co. Ltd
GSI Asia Group Sdn.Bhd
GSI/Cumberland SA (Pty) Ltd.
GSI Group - Canada
In United States, privately
held corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report but deferred any financials.
However, sales estimate for
year 2014 is in the range of USD 380,000,000=
The business is said to be
profitable.
However, all financials are
consolidated into the parent company which reported:
Consolidate sales 2013: USD
9,723,700,000=
Net profit: USD 404,200,000=
Banks: JPMorgan Chase Bank
Legal filings
& complaints:
As of today, there is no legal filing pending with the Courts.
Secured debts
summary (UCC):
File number: 017463381
Date filed: 07-23-2012
Secured Party: Cargill Incorporated
15407 McGinty Road West, Wayzata, MN
55391