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MIRA INFORM REPORT
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Report No. : |
500902 |
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Report Date : |
03.04.2018 |
IDENTIFICATION DETAILS
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Name : |
COSTEX CORPORATION |
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Registered Office : |
3910 W
Flagler St Miami, FL 33134 |
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Country : |
United States |
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Financials (as on) : |
2016 (Summarized) |
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Date of Incorporation : |
01.07.1980 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject doing business as CTP Logistics,
manufactures and distributes replacement parts for heavy industrial
equipment. |
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No. of Employees : |
180 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
UNITED STATES - ECONOMIC
OVERVIEW
The US has the most technologically powerful economy in the world, with a per capita GDP of $57,300. 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, businesses 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. Because the US economy is energy-intensive, falling oil prices since 2013 have alleviated many of the problems the earlier increases had created.
The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the US 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, 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 Americans by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on healthcare - 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 further reduce them 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 increases. In December 2015, the Fed raised its target for the benchmark federal funds rate by 0.25%, the first increase since the recession began. With US GDP growth below 2%, the Fed opted to raise rates three times since then, and in mid-June 2017, the range for the target rate stood at 1% to 1.25%.
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Source
: CIA |
STATUTORY INFORMATION
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Legal Name: |
COSTEX
CORPORATION |
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Trade Name: |
COSTEX
CORPORATION/ CTP Logistics/ COSTEX TRACTOR PARTS |
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ID: |
59-1963036 650289 |
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Date Created: |
1980 |
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Date Incorporated: |
1/7/1980 |
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Legal Address: |
3910 W
FLAGLER ST |
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Operative
Address: |
6100 Nw 77th
Ct |
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Telephone: |
(305) 592-9769 |
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Fax: |
(305) 592-7355 |
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Legal Form: |
CORPORATION |
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Email: |
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Registered in: |
FLORIDA |
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Website: |
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Contact: |
Gilberto C
Uribe, President and Chief Technology Officer |
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Staff: |
180 |
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Industry: |
NAICS 1:
Construction Machinery Manufacturing NAICS 2:
Industrial Machinery and Equipment Merchant Wholesalers NAICS 3:
Gasket, Packing, and Sealing Device Manufacturing SIC 1:
Construction Machinery SIC 2:
Industrial Machinery And Equipment SIC 3: Gaskets;
Packing And Sealing Devices |
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Banks |
OCEAN BANK
COMMERCEBANK, NA |
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The company does
not disclose its banking details. |
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HISTORY |
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Costex
Corporation was founded in 1980 and is based in Miami, Florida. |
PRINCIPAL ACTIVITY
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Costex
Corporation, doing business as CTP Logistics, manufactures and distributes replacement
parts for heavy industrial equipment. |
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Products/Services
description: |
It offers
engine components, power trains, hydraulics, electrical products, fuel
injection products, frame and body products, undercarriage products, ground
engaging tools, hardware, cooling systems, filters, seals and gaskets,
braking systems, rubber tracks, inframe overhaul kits, and gasket kits. The
company also provides seats, belts, temperature tools, cabin glasses,
chemicals, additives, coolant and battery testers, alarms, paints, mirrors,
horns, wipers, metal bins, and hand cleaner towels. Actuators » Actuators
for Fuel Injection System » Air
Conditioning Compressors » Air Filters » Air Filters
Indicators »
Air-Intake/Exhaust Clamps »
Air-Intake/Exhaust Pipes Extensions » Alarms
& Horns » Alternators » Armatures » Backhoe
Loader Seal Kits » Backhoe
Loader Pads » Batteries » Beaded
Gaskets » Bearings » Belt
Tighteners » Belts » Bevel Gears
and Pinions » Bit Cutters » Blades
& End Bits for Komatsu » Bogies » Bogies for
Komatsu » Bonnets » Brake
Pedals » Braking
System Parts » Bronze Bars » Brushes » Bucket
Links for Excavators » Bulldozer
Blades » C Series
Cylinder Head Bolts » C Series
Gaskets Kits » C7 ACERT
Industrial Engine » C15 Piston
and Liner Kits » Cab Air
Filters » Cabin Glass » Cables » Camshafts » Carriers » Cartridges » Case Seal
Kits » Caterpillar
Collectible Replicas » Circuit
Breakers » Clamps » Collectible
Scale Model Replicas » Composite
Bearings » Compressors » Connecting
Rod Kit » Connecting
Rods » Copper
Bonded Bearings » Crankshafts » Crankshafts
for Komatsu » Crankshafts
Seals » Cross
Hatching Liners » Cylinder
Blocks (3304, 3306) » Cylinder
Head » Cylinder
Head Overhaul Kits » Dampers » Dimpled and
Int. Milling Bearings » Dowels » Drums » Dryers » Dump Pumps » Electrical
System Starting » Electrical
Terminals » End Bits
(Bulldozer/Compactor) » End Bits
(Motor Grader) » Engine
Bearings » Engine
Blocks 3116 » Engine
Components » Engine
Ferrules & Seals » Engine
Hoses » Engine Kits » Engine
Mounts » Engine
Rotocoils » Engine
Valves » Equalizer
Bar » Excavator
Couplings » Excavator
Gears » Excavator
Seal Kits » Excavator
Sidecutters |
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Brands: |
Costex
Tractor Parts CTP® |
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Sales are: |
Wholesale |
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Clients: |
NIITSU TURBO
INDUSTRIES (M) SDN BHD NINGBO
JIANGDONG COSTEX IMP. EXP. C JINAN
ZHONGCHUAN EQUIPMENT CO., LTD COMFORSA -
COMERCIAL DE LA FORJA SA Talbros
Automotive Components Ltd. Precision
Bearing House |
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Suppliers: |
No |
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Operations area:
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National and
International |
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The company
imports from |
No records |
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The company
exports to |
SPAIN, CHINA,
MALAYSIA |
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The subject
employs |
180 employees |
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Payments: |
Regular |
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LOCATION
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Headquarters : |
6100 Nw 77th
Ct |
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Branches: |
Dallas Branch 1441 S.
Beltline RD. Coppell, Texas 75019 Suite 100 U.S.A. Tel: (214)
231-7455 Fax: (214)
231-7457 Toll Free in
USA: 1 888 CTP 0580 e-mail: dallas@costex.com |
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Related
Companies: |
China Branch Room 609
block 1Eastern Business Center 456 Xingning
RD. Ningbo City Zhejiang P.R. 315000 China T:(0574)2766-9861 F:(0574)8736-2790 e-mail:
chinasales@costex.com |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the
stock exchange: |
NA |
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Capital: |
NA |
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Shareholders: |
This is a
private company. We could not confirm any major holder. |
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Management: |
Ana Lopez,
Office Manager |
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FINANCIAL INFORMATION
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The company does not public its financial statements. The following
information has been provided by our private sources: |
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USD 2016 |
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Sales |
$40.700.000 |
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Cash Flow |
Normal |
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LEGAL FILINGS
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TRADEMARKS |
CTP |
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UCC Filed: |
Secured
Parties OCEAN BANK 780 NW 42ND
AVE MIAMI FL 33126 Debtor
Parties COSTEX
CORPORATION 6100 NW 77TH
CT MIAMI FL 33166 04/19/1999 04/19/2004 03/23/2018 990000085448 Secured
Parties IBM CREDIT
CORPORATION 1133
WESTCHESTER AVE WHITE PLAINS NY 10604 Debtor
Parties COSTEX CORP 6100 NW 77TH
CT MIAMI FL 331663512 05/23/1997 05/23/2002 03/23/2018 970000113030 Secured
Parties BARNETT BANK
NA 701 BRICKELL
AVENUE 6TH FLOOR MIAMI FL 33131 Debtor
Parties COSTEX
CORPORATION 6100 NW 77TH
COURT MIAMI FL 33166 07/10/1997 07/10/2002 03/23/2018 970000152689 Secured
Parties IBM CREDIT
CORPORATION 1 NORTH
CASTLE DR ARMONK NY 105042575 Debtor
Parties COSTEX
CORPORATION 6100 NW 77TH
COURT MIAMI FL 331663512 01/25/2001 01/25/2006 03/23/2018 200100018790 Secured
Parties COMMERCEBANK,
NA 220 ALHAMBRA
CIR, 11TH FL CORAL GABLES FL 33134 Debtor
Parties COSTEX
CORPORATION 6100 NW 77TH
CT MIAMI FL 33166 06/04/2001 06/04/2006 03/23/2018 200100121941 |
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Lawsuits: |
There are not
any legal cases connected to the subject. |
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SUMMARY
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Founded in
1980, Costex Corporation is a mid-sized organization in the construction
machinery manufacturers industry located in Miami, FL. This company has 38 years
of experience in the market. |
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RISK INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
Regular |
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CASH FLOW |
Normal |
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STATUS |
ACTIVE |
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INTERVIEW
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NAME |
NA |
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POSITION |
NA |
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COMMENTS |
We called the
company several times but we obtained no answer. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.04 |
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|
1 |
INR 92.28 |
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Euro |
1 |
INR 80.62 |
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US Dollar |
1 |
INR 65.02 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.