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MIRA INFORM REPORT
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Report No. : |
503094 |
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Report Date : |
14.04.2018 |
IDENTIFICATION DETAILS
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Name : |
SHAMROCK TECHNOLOGIES, INC. |
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Registered Office : |
655 5th Ave New York, New York, 10022 |
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Country : |
United States |
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Financials (as on) : |
2016 (Summarized) |
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Date of Incorporation : |
19.04.1945 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject designs, manufactures, and supplies PTFE and wax additives for
inks and coatings, lubricants, personal care products, and polymer additives
worldwide. |
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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 $59,500. 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 more than 50% 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, 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 former 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 FY 2018, the direct costs of the wars will have totaled more than $1.9 trillion, according to US Government figures.
In March 2010, former President OBAMA signed into law the Patient Protection and Affordable Care Act (ACA), 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 former 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%. The Fed ended its purchases during the summer of 2014, after the unemployment rate dropped to 6.2%, inflation stood at 1.7%, and public debt fell below 74% of GDP. 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 continued low growth, the Fed opted to raise rates several times since then, and in December 2017, the target rate stood at 1.5%.
In December 2017, Congress passed and President Donald TRUMP signed the Tax Cuts and Jobs Act, which, among its various provisions, reduces the corporate tax rate from 35% to 21%; lowers the individual tax rate for those with the highest incomes from 39.6% to 37%, and by lesser percentages for those at lower income levels; changes many deductions and credits used to calculate taxable income; and eliminates in 2019 the penalty imposed on taxpayers who do not obtain the minimum amount of health insurance required under the ACA. The new taxes took effect on 1 January 2018; the tax cut for corporations are permanent, but those for individuals are scheduled to expire after 2025. The Joint Committee on Taxation (JCT) under the Congressional Budget Office estimates that the new law will reduce tax revenues and increase the federal deficit by about $1.45 trillion over the 2018-2027 period. This amount would decline if economic growth were to exceed the JCT’s estimate.
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Source
: CIA |
STATUTORY
INFORMATION
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Legal Name: |
SHAMROCK TECHNOLOGIES, INC. |
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Trade Names: |
SHAMROCK TECHNOLOGIES, INC. |
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ID: |
56030 |
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Date Created: |
1945 |
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Date Incorporated: |
APRIL 19, 1945 |
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Legal Address: |
655 5TH AVE NEW YORK, NEW YORK, 10022, USA |
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Operative Address: |
FOOT OF PACIFIC ST NEWARK, NEW JERSEY, 07114, USA |
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Telephone: |
973-242-2999 |
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Fax: |
973-242-8074 |
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Legal Form: |
CORPORATION |
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Email: |
- |
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Registered in: |
NEW YORK |
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Website: |
www.shamrocktechnologies.com |
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Contact: |
William B. Neuberg - Chairman and Chief Executive Officer |
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Staff: |
180 |
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Activity: |
SIC Code 2899, Chemicals and Chemical Preparations, NEC NAICS Code 325998, All Other Miscellaneous Chemical Product and
Preparation Manufacturing |
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Banks
BANK OF AMERICA FIRST UNION NATIONAL BANK WACHOVIA BANK, NATIONAL ASSOCIATION NMHG FINANCIAL SERVICES, INC. |
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History
The company was founded in 1945 and is based in Newark, New Jersey.
Shamrock Technologies, Inc. was formerly known as Shamrock Chemicals
Corporation and changed its name to Shamrock Technologies, Inc. in 1988. |
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Parent Company: |
Shamrock Technologies, Inc. operates as a subsidiary of: William D. Neuberg Company, Inc. Foot of Pacific Street Newark, NJ 07114 United States |
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PRINCIPAL
ACTIVITY
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Shamrock Technologies, Inc. designs, manufactures, and supplies PTFE
and wax additives for inks and coatings, lubricants, personal care products,
and polymer additives worldwide. |
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Products/Services description: |
The company offers a line of specialty micronized powders,
dispersions, and emulsions; and compounds, including PTFE, polyethylene,
polypropylene, fluoropolymers, custom wax alloys, natural waxes, and other
specialty additives. Its products are used in inks and coatings,
thermoplastics, greases, elastomers, personal care products, and other
specialty applications. The company markets and sells its products through
technical sales representatives in the United States, Europe, Asia, and South
America. |
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Brands: |
SHAMROCK |
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Sales are: |
Wholesale |
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Clients: |
First Quality Chemicals Sa de Cv Stahl De Mexico SA De Cv Valspar Aries Coating S.De R.L.De Cv Flint Mexicana S De Rl De Cv Compania Global De Pinturas S.A. |
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Suppliers: |
W.L. Gore & Associates Gmbh Shamrock Technologies (Tianjin) Co. V Dipesh Kumar & Company Raj Fluro Polymer Agency Kala Polymers Shamrock Technologies Bvba Carnauba Do Brasil Ltda |
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Operations area: |
National and International |
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The company imports from |
GERMANY CHINA INDIA BELGIUM BRAZIL |
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The company exports to |
MEXICO COLOMBIA |
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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 : |
FOOT OF PACIFIC ST NEWARK, NEW JERSEY, 07114, USA |
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Comments on Address: |
- |
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Branches: |
Community Drive, KY, USA 301 Community Drive Henderson, KY 42420, USA Henderson, KY, USA 109 McKinley Street Henderson, KY 42420, USA |
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Related Companies: |
Tongeren, Belgium Heersterveldweg, 21 B-3700 Tongeren, Belgium Tianjin, China Factory No. 5, Phase 2 Fenghua Industrial Park, 9th Ave., TEDA , Tianjin, China |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
The company does not disclose information on shareholders. The
following information has been provided by private sources and could not be
confirmed: Shamrock Technologies, Inc. operates as a subsidiary of: William D. Neuberg Company, Inc. Foot of Pacific Street Newark, NJ 07114 United States |
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Management: |
William B. Neuberg - Chairman and Chief Executive Officer Al Pape - President Mr. Werner Maenen - Managing Director of BVBA Mr. Craig Baudendistel - Director of Sales Mr. Richard Baillie - Vice President of Marketing |
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FINANCIAL
INFORMATION
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The company does not make its financial
statements public. The following information has been provided by private
sources: |
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USD 2016 |
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Revenue |
55.640.000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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PATENTS |
Continuous process for irradiating of polytetrafluoroethylene (PTFE) Patent number: 6491243 Abstract: A system for continuously processing PTFE by irradiation and
grinding includes a processing vessel having first and second horizontally
adjacent agitators in first and second transversely adjacent vessel portions.
The bottom of the vessel has a step between the portions whereat heated air
is injected for agitating and grinding the PTFE. Type: Grant Filed: August 11, 1999 Date of Patent: December 10, 2002 Assignee: Shamrock Technologies, Inc. Inventors: Robert Luniewski, William B. Neuberg Continuous process for irradiating of polytetrafluorineethylene (PTFE) Patent number: 5968997 Abstract: A system for continuously processing PTFE by irradiation and
grinding includes a processing vessel having first and second horizontally
adjacent agitators in first and second transversely adjacent vessel portions.
The bottom of the vessel has a step between the portions whereat heated air
is injected for agitating and grinding the PTFE. Type: Grant Filed: December 9, 1998 Date of Patent: October 19, 1999 Assignee: Shamrock Technologies, Inc. Inventors: Robert Luniewski, William B. Neuberg Physical methods of dispersing characteristic use particles and
compositions thereof Patent number: 7250455 Abstract: The present invention provides compositions that are capable
of being dispersed in a target medium. The compositions include characteristic
use particles entrapped within a physical entrapment phase, wherein the
physical entrapment phase is dispersible in the target medium. Accordingly,
the compositions of the present invention physically prevent the
agglomeration or self-association of the characteristic use particles. Also
disclosed are processes for manufacturing compositions that are capable of
being dispersed in a target medium. Type: Grant Filed: September 29, 2004 Date of Patent: July 31, 2007 Assignee: Shamrock Technologies, Inc. Inventors: Charles A. Cody, Manshi Sui, Youssef Awad |
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GOVERNMENT CONTRACTS |
No found. |
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CASES |
Shamrock Technologies, Inc. v. React-ntl, LLC Plaintiff: Shamrock Technologies, Inc. Defendant: React-ntl, LLC Case Number: 1:2007cv03114 Filed: April 18, 2007 Court: New York Southern District Court Office: Foley Square Office County: XX Out of State Presiding Judge: Jed S. Rakoff Nature of Suit: Contract: Other Cause of Action: 28:1332 Diversity-Other Contract Jury Demanded By: None |
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TRADEMARKS |
ASK ANSWER MAN specialty chemicals used as additives in inks and coatings, personal
care formulations, lubricants, and fluoropolymers Owned by: Shamrock Technologies, Inc. Serial Number: 77848472 NANOFLON Chemicals used in the manufacture of paint, inks, coating, plastics,
textiles, grease and lubricants, namely polytetrafuoroethylene… Owned by: Shamrock Technologies, Inc. Serial Number: 78228426 AQUAFLON Chemicals used in the manufacture of paint, inks, coating, plastics, textiles,
grease and lubricant, that consist of or… Owned by: Shamrock Technologies, Inc. Serial Number: 78236111 MICROFLON Chemicals used in the manufacture of paint, inks, coating, plastics,
textiles, grease and lubricants, namely polytetrafuoroethylene… Owned by: Shamrock Technologies, Inc. Serial Number: 78236112 FLUOROSLIP Chemical additive, comprising polytetrafluoroethylene and wax, for use
in the manufacture of inks, coatings, and paint Owned by: Shamrock Technologies, Inc. Serial Number: 85788981 FLUOROPURE Chemicals, namely, polytetrafluoroethylene for use in the manufacture
of cosmetics and personal care products Owned by: Shamrock Technologies, Inc. Serial Number: 85789025 |
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RENEWAL HISTORY |
Filing Date Name Type Entity Name FEB 01, 1988 Actual SHAMROCK TECHNOLOGIES, INC. AUG 16, 1971 Actual SHAMROCK CHEMICALS CORPORATION APR 19, 1945 Actual WILLIAM D. NEUBERG CO., INC. |
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UCC |
Debtor Names: SHAMROCK
TECHNOLOGIES, INC. 117 DOCKS CORNER ROAD, DAYTON, NJ 08810-0000, USA SHAMROCK TECHNOLOGIES, INC. FOOT OF PACIFIC STREET, NEWARK, NJ 07114-0000, USA Secured Party Names: FIRST
UNION NATIONAL BANK 190 RIVER ROAD, SUMMIT, NJ 07901-0000, USA FIRST UNION NATIONAL BANK 550 BROAD STREET, NEWARK, NJ 07102-0000, USA File no. File Date Lapse Date Filing Type 095670 05/05/1998 05/05/2003 Financing Statement 244584 12/21/2000 05/05/2003 Financing Statement Amendment 200302060279128 02/06/2003 05/05/2008 Continuation 200801225059179 01/22/2008 05/05/2013 Continuation 201001075017174 01/07/2010 05/05/2013 Termination Debtor Names: SHAMROCK
TECHNOLOGIES, INC. FOOT OF PACIFIC STREET, NEWARK, NJ 07114-0000, USA Secured Party Names: FIRST
UNION NATIONAL BANK 550 BROAD STREET, NEWARK, NJ 07102-0000, USA File no. File Date Lapse Date Filing Type 057373 03/11/2002 03/11/2007 Financing Statement 200611206126621 11/20/2006 03/11/2012 Continuation 201001075017162 01/07/2010 03/11/2012 Termination Debtor Names: SHAMROCK
TECHNOLOGIES, INC. 117 DOCKS CORNER ROAD, DAYTON, NJ 08810-0000, USA Secured Party Names: WACHOVIA
BANK, NATIONAL ASSOCIATION F/K/A FIRST UNION NATIONAL BANK 190 RIVER ROAD, SUMMIT, NJ 07901-0000, USA File no. File Date Lapse Date Filing Type 252648 11/08/2002 11/08/2007 Financing Statement 200707245712218 07/24/2007 11/08/2012 Continuation 201001065016093 01/06/2010 11/08/2012 Termination Debtor Names: SHAMROCK
TECHNOLOGIES, INC. 117 DOCKS CORNER ROAD, DAYTON, NJ 08810, USA Secured Party Names: WACHOVIA
BANK, NATIONAL ASSOCIATION 190 RIVER ROAD, SUMMIT, NJ 07901, USA File no. File Date Lapse Date Filing Type 200503010330984 03/01/2005 03/01/2010 Financing Statement Debtor Names: SHAMROCK
TECHNOLOGIES, INC. FOOT OF PACIFIC ST., NEWARK, NJ 07114, USA Secured Party Names: NMHG
FINANCIAL SERVICES, INC. 44 OLD RIDGEBURY ROAD, DANBURY, CT 06810, USA NMHG FINANCIAL SERVICES, INC. PO BOX 35701, BILLINGS, MT 59107-5701, USA File no. File Date Lapse Date Filing Type 200810076106130 10/07/2008 10/07/2013 Financing Statement 201307255797918 07/25/2013 10/07/2013 Financing Statement Amendment 201307255797920 07/25/2013 10/07/2018 Continuation |
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OFAC Sanctions List Search |
The company is not listed in the OFAC list. |
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SUMMARY
Founded in 1945, Shamrock Technologies, Inc. I an organization in the
All Other Miscellaneous Chemical Product and Preparation Manufacturing
Industry headquartered in Newark, New Jersey. The company has 180 regular employees and generates an estimated $55.6
million USD in annual revenue. The company operates nationally and internationally, mainly exporting
to Mexico and Colombia. It is ACTIVE in business with no negative records. |
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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 |
Mike |
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POSITION |
Sales |
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COMMENTS |
He confirmed the name of the company, the address of the headquarters and
location, the date of creation of the company, the number of employees and
the name of the Chief Executive Officer. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.22 |
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1 |
INR 92.77 |
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Euro |
1 |
INR 80.34 |
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USD |
1 |
INR 65.21 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIS |
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Report Prepared
by : |
NIT |
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
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
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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.