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Report No. : |
349841 |
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Report Date : |
23.11.2015 |
IDENTIFICATION DETAILS
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Name : |
GROUPE ALAMO INC. |
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Registered Office : |
1627 East Walnut Street, Seguin, TX 78155 |
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Country : |
United States |
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Financials (as on) : |
30.09.2015 |
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Date of Incorporation : |
22.10.1987 |
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Legal Form : |
Public Company |
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Line of Business : |
Designs, manufactures, and sells agricultural equipment and
infrastructure maintenance equipment for governmental and industrial use
primarily in the United States, the United Kingdom, France, Canada, and
Australia. |
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No. of Employees : |
3,070 |
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 |
Company name: GROUPE ALAMO INC.
Address: 1627 East Walnut Street,
Seguin, TX 78155 - USA
Telephone: +1
830-379-1480
Fax: +1 830-372-9683
Website: www.alamo-group.com
Corporate ID#: 2141567
State: Delaware
Judicial form: Public Company (NYSE = ALG)
Date incorporated: 10-22-1987
Stock: 11,424,172
shares issued and outstanding (as of 10-30-2015)
Value: USD
0.10= par value
Name of manager: Ronald
A. ROBINSON
Business:
Alamo Group Inc. designs, manufactures, and sells agricultural equipment
and infrastructure maintenance equipment for governmental and industrial use
primarily in the United States, the United Kingdom, France, Canada, and
Australia.
The company operates through three segments: North American Industrial,
North American Agricultural, and European.
It provides hydraulically-powered; tractor-mounted mowers, including
boom-mounted mowers; cutters and replacement parts for heavy-duty and intensive
use applications comprising maintenance around highway, airport, recreational,
and other public areas; heavy duty, tractor-and truck-mounted mowing, and
vegetation maintenance equipment and replacement parts; air, mechanical broom,
regenerative air sweepers, pothole patchers, and replacement parts; products
for excavation, grading, shaping, and similar tasks involved in land clearing,
road building, or maintenance; catch basin cleaners and roadway debris vacuum
systems; parking lot sweepers; and snow plows and heavy duty snow removal
equipment, hitches, and attachments.
The company also offers tractor-powered equipment, including rotary
cutters, finishing mowers, flail mowers, disc mowers, zero turn radius mowers,
front-end loaders, backhoes, rotary tillers, posthole diggers, scraper blades,
and replacement parts; cutting parts, plain and hard-faced replacement tillage
tools, disc blades, and fertilizer application components; and heavy-duty
mechanical rotary mowers, snow blowers, rock removal equipment, and related
replacement parts.
In addition, it provides hydraulic, and boom-mounted hedge and grass
cutters, as well as other tractor attachments and implements; hedgerow cutters,
industrial grass mowers, and agricultural seedbed preparation cultivators;
light-duty power arm mowers, and agricultural implements; hydraulic and
mechanical boom mowers; and vacuum trucks, high pressure cleaning systems, and
trenchers.
The company was founded in 1955 and is based in Seguin, Texas.
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: 74-2149829
Staff: 3,070
Operations & branches:
At the headquarters, we
find a factory, warehouse and office.
The Company maintains
several branches in the U.S.
Shareholders:
The Company is listed with the NYSE under symbol ALG.
As of 09-30-2015, 91% of the stock was held by institutional and mutual
fund owners including:
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Longview Asset Management, LLC |
14.88% |
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Royce & Associates, LLC |
10.35% |
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Dimensional Fund Advisors LP |
8.57% |
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Wellington Management Company, LLP |
4.56% |
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Goldman Sachs Group, Inc. |
4.44% |
Management:
Ronald A. ROBINSON has been the Chief Executive Officer and President of
Alamo Group, Inc. since July 7, 1999 and served as its Principal Financial
Officer until January 15, 2007. Mr. Robinson served as the President of Svedala
Industries Inc., the U.S. subsidiary of Svedala Industries AB of Malmo, Sweden,
a leading manufacturer of equipment and systems for the worldwide construction,
mineral processing and materials handling industries.
He joined Svedala in 1992 when it acquired Denver Equipment Company of
which he served as Chairman and Chief Executive Officer.
He has been an Executive Director of Alamo Group Inc. since July 7,
1999.
Other Directors include Donald DUNCAN, Geoffrey DAVIES, Jeffrey LEONARD,
Richard PLUMMELL, and Robert GEORGE.
Dan E. MALONE is the CFO.
Subsidiaries And partnership:
Numerous in the U.S. and worldwide.
On November 4, 2015, Alamo Group, Inc. announced unaudited consolidated
earnings results for the third quarter and nine months ended September 30,
2015.
For the quarter, the company reported total net sales of $231,613,000
compared with $234,783,000 for the same period a year ago. Income from
operations was $23,569,000 compared with $21,526,000 for the same period a year
ago. Income before income taxes was $22,820,000 compared with $20,491,000 for
the same period a year ago. Net income was $14,755,000 or $1.28 per diluted
share compared with $13,367,000 or $0.10 per diluted share for the same period
a year ago. The sales for the quarter were negatively impacted by $9.8 million
in currency translation effects as a result of the stronger U.S. dollar
compared to other currencies in which the Company conducts
business. Adjusted operating income – non-GAAP was $24,119,000 compared
with $22,796,000 for the same period a year ago. Adjusted net income – non-GAAP
was $15,110,000 compared with $14,174,000 for the same period a year ago.
Adjusted diluted EPS - non-GAAP was $1.31 compared with $1.16 for the same
period a year ago.
For the nine months, the company reported total net sales of
$655,145,000 compared with $615,144,000 for the same period a year ago. Income
from operations was $52,132,000 compared with $46,953,000 for the same period a
year ago. Income before income taxes was $49,353,000 compared with $45,358,000
for the same period a year ago. Net income was $31,824,000 or $2.77 per diluted
share compared with $29,800,000 or $2.43 per diluted share for the same period
a year ago. Adjusted operating income – non-GAAP was $55,883,000 compared with
$49,931,000 for the same period a year ago. Adjusted net income – non-GAAP was
$34,238,000 compared with $31,693,000 for the same period a year ago. Adjusted
diluted EPS - non-GAAP was $2.98 compared with $2.59 for the same period a year
ago.
On attachment:
- 10K 2014
- 3rd 10Q 2015
Banks: Bank of America
JPMorgan Chase Bank
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary (UCC):
Several