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MIRA INFORM REPORT
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Report No. : |
505270 |
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Report Date : |
25.04.2018 |
IDENTIFICATION DETAILS
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Name : |
UNITED PRECIOUS METAL REFINING, INC. |
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Registered Office : |
2781 Townline Road Alden, NY 14004 |
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Country : |
United States |
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Date of Incorporation : |
06.10.1987 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject provides master alloys for manufacturing gold,
silver, platinum, and palladium jewelry. |
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No. of Employees : |
77 |
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 : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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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Order: |
UNITED PRECIOUS METALREFINING INC |
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Address in the order: |
2781 TOWNLINE RAOD ALDEN N Y, 14004 USA |
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Legal Name: |
UNITED PRECIOUS METAL REFINING, INC. |
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Trade
Names: |
UNITED PRECIOUS METAL REFINING, INC. |
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ID: |
1206850 |
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Date Created: |
1987 |
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Date Incorporated: |
OCTOBER 06, 1987 |
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Legal Address: |
2781 Townline Road Alden, NY 14004 USA |
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Operative Address: |
2781 TOWNLINE ROAD ALDEN, NEW YORK,
14004, USA |
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Telephone: |
(800) 999-3463 |
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Fax: |
(800) 533-6657 |
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Legal Form: |
CORPORATION |
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Email: |
sales@unitedpmr.com |
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Registered in: |
NEW YORK |
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Website: |
www.unitedpmr.com |
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Contact: |
Vinny Guadagna – President and Owner |
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Staff: |
77 |
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Activity: |
SIC Code 7389, Business Services, NEC |
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Banks: |
BANK OF AMERICA CHASE LINCOLN FIRST BANK THE CHASE MANHATTAN BANK |
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History: |
United Precious Metal Refining, Inc. was
founded in 1987 and is based in Alden, New York. |
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PRINCIPAL
ACTIVITY
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United Precious Metal Refining, Inc.
provides master alloys for manufacturing gold, silver, platinum, and
palladium jewelry. |
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Products/Services description: |
It offers casting grains, wires/plates, solders,
de-oxidized sterling silver wires/plates, and bullion products. The company
also provides analytical services, such as fire assay, ICP analysis, XRF
analysis, Vickers hardness testing, plating thickness measurement, and
lead/cadmium/mercury testing. In addition, it is engaged in the refining and
processing of various materials, including scrap, bench grindings, and
sweeps. |
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Brands: |
The company does not have any brands of
its own. |
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Sales are: |
WHOLESALE |
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Clients: |
Artesania Platera SRL GULD DESIGN WORKSHOP SA DE CV Pltmex SA De Cv Anahi Jewelry Mfg. Srl . NAV BHARAT JEWELLERY TOOLS |
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Suppliers: |
Metalmonic Srl . |
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Operations area: |
National and International |
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The company
imports from |
BOLIVIA |
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The company exports to |
MEXICO, BOLIVIA, INDIA |
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The subject employs |
77 employees |
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Payments: |
No Complaints |
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LOCATION
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Headquarters : |
2781 Townline Road Alden, NY 14004 USA |
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Comments on Address: |
- |
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Branches: |
No other branches were found. |
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Related Companies: |
COMERCIAL ROSSE SA MERCED 739 LOCAL 24 SANTIAGO, CHILE UNITED P M INTERNATIONAL LTD., HONG KONG Unit 405, 4/F., Lippo Sun Plaza, 28
Canton Road, Tsimshatsui Kowloon, Hong Kong NAVBHARAT CARBON CO (Mumbai) 44-46 Popatwadi, Kalbadevi Road, Mumbai 400 002 India DIAMANTEX Francisco 1 Madero No 47-201 Col Centro Mexico D. F. 06000 Mexico LUIGI DAL TROZZO S.A.S. Via Accademia 48 Milano 20131 Italy |
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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: Vinny Guadagna This information was provided by the
company. |
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Management: |
Vinny Guadagna – President and Owner Anthony Arias – Chief Financial Officer Ajit Menon – Director of Technology |
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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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Assets |
6.400.000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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PATENTS |
White gold
alloy compositions Patent
number: 6951588 Abstract:
A nickel- and palladium-free 14-karat white gold alloy composition consists
of the following parts by weight: about 58.34% gold, about 35–40% silver,
about 0.5–1.80% tin, and about 0–0.75% germanium. Type:
Grant Filed:
March 15, 2004 Date of
Patent: October 4, 2005 Assignee:
United Precious Metal Refining, Inc. Inventors:
Melvin Bernhard, Ajit B. Menon Sterling
silver manganese alloy compositions Publication
number: 20050211342 Abstract:
A unique manganese silver alloy composition is provided, which alloy exhibits
the long desired properties of exceptional as-cast hardness and reversible
heat treatability, in addition to offering reduced fire scale, reduced voids
and porosity, reduced grain size, and reduced oxide formation when heated
consisting essentially of the following parts by weight: about 92.5-92.8%
silver, about 2.0-3.0% copper, about 2.0-3.0% zinc, about 0.03-0.05% indium,
about 0.01-0.03% tin, about 0.20-0.50% boron/copper alloy (22% boron, 98.0%
copper) about 0.50-0.90% silicon/copper alloy (10.0% silicon, 90.0% copper),
and 0.01%-0.10% manganese “30” (0.30% of a manganese-copper alloy containing
about 30% manganese and about 70% copper). Type:
Application Filed:
March 24, 2004 Publication
date: September 29, 2005 Applicant:
United Precious Metal Refining, Inc. Inventor:
Ajit Menon Sterling
silver manganese alloy compositions Patent
number: 7128792 Abstract:
A unique manganese silver alloy composition is provided, which alloy exhibits
the long desired properties of exceptional as-cast hardness and reversible
heat treatability, in addition to offering reduced fire scale, reduced voids
and porosity, reduced grain size, and reduced oxide formation when heated
consisting essentially of the following parts by weight: about 92.5–92.8%
silver, about 2.0–3.0% copper, about 2.0–3.0% zinc, about 0.03–0.05% indium,
about 0.01–0.03% tin, about 0.20–0.50% boron/copper alloy (22% boron, 98.0%
copper) about 0.50–0.90% silicon/copper alloy (10.0% silicon, 90.0% copper),
and 0.01%–0.10% manganese “30” (0.30% of a manganese-copper alloy containing
about 30% manganese and about 70% copper). Type:
Grant Filed:
March 24, 2004 Date of
Patent: October 31, 2006 Assignee:
United Precious Metal Refining, Inc. Inventor:
Ajit B. Menon Silver
alloy compositions Patent
number: 4973446 Abstract:
An improved sterling silver alloy composition, exhibiting the desirable
properties of reduced fire scale, reduced porosity and reduced grain size,
consists essentially of the following parts by weight: about 92.5% silver,
about 0.5% copper, about 4.25% zinc, about 0.02% indium, about 0.48% tin,
about 1.25% of a boron-copper alloy containing about 2% boron and about 98%
copper, and about 1% of a silicon-copper alloy containing about 10% silicon
and about 90% copper. Type:
Grant Filed:
June 7, 1990 Date of
Patent: November 27, 1990 Assignee:
United Precious Metal Refining Co., Inc. Inventors:
Melvin Bernhard, James T. Sivertsen |
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GOVERNMENT CONTRACTS |
No found. |
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CASES |
United Precious Metals Refining, Inc. v.
Cascade Star Inc. f/k/a Alpha International LLC Plaintiff: United Precious Metals
Refining, Inc. Defendant: Cascade Star Inc. f/k/a Alpha
International LLC Case Number: 1:2011cv01003 Filed: November 23, 2011 Court: New York Western District Court Office: Buffalo Office County: Erie Presiding Judge: William M. Skretny Nature of Suit: Trademark Cause of Action: 15:44 Jury Demanded By: Plaintiff |
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TRADEMARKS |
UNITED precious metals, solders made of
precious metals and wire made of precious metals Owned by: United Precious Metal
Refining, Inc. Serial Number: 74570007 UNITED RE-DEFINED ENVIRONMENTALLY
RESPONSIBLE UNITED Precious metals and alloys thereof Owned by: United Precious Metal
Refining, Inc. Serial Number: 77334019 SILVADIUM Precious metals and their alloys,
namely, silver with palladium Owned by: United Precious Metal
Refining, Inc. Serial Number: 77512260 STERLING 57 precious metals and alloys thereof Owned by: United Precious Metal
Refining, Inc. Serial Number: 78443617 |
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RENEWAL HISTORY |
No records found. |
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UCC |
Debtor Names: UNITED PRECIOUS METAL REFINING INC 2781 TOWNLINE RD., ALDEN, NY 14004-0000,
USA Secured Party Names: CHASE LINCOLN FIRST BANK, NA File no.
File Date Lapse Date Filing Type 007435
01/12/1988 01/12/1993 Financing Statement 262371
12/18/1992 01/12/1998 Continuation 230297 11/07/1997 01/12/2003 Continuation 181135 08/06/2002 01/12/2008 Continuation 200703165294190 03/16/2007 01/12/2008 Termination
200706140478515 06/14/2007 01/12/2008Termination Debtor Names: UNITED PRECIOUS METAL REFINING INC 2781 TOWNLINE ROAD, ALDEN, NY
00000-0000, USA Secured Party Names: THE CHASE MANHATTAN BANK 200 JERICHO QUADRANGLE, JERICHO, NY
11753-0000, USA CHASE LINCOLN FIRST BANK, NA File no. File
Date Lapse Date Filing Type Pages Image 160909 06/27/1988 06/27/1993 Financing Statement 267283 12/28/1992 06/27/1998 Continuation 033318 02/17/1998 06/27/2003 Continuation 257408 12/07/1998 06/27/2003 Assignment 200303240637293 03/24/2003 06/27/2008
Continuation 200703165294203 03/16/2007 06/27/2008
Termination 200706140478527 06/14/2007 06/27/2008
Termination 200706140478541 06/14/2007 06/27/2008
Termination |
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OFAC Sanctions List Search |
The company is not listed in the OFAC
list. |
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SUMMARY
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Founded in 1987, United Precious Metal Refining
Inc. is an organization in the Metal Refining Industry headquartered in
Alden, NY. The company has 77 regular employees and
generates an estimated $6.4 million USD in annual revenue. The company operates nationally and
internationally, mainly exporting to Mexico. 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 |
No Complaints |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW
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NAME |
Carry |
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POSITION |
Receptionist |
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COMMENTS |
She 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 President and Owner of the
company. She claimed to be unauthorized to provide financial information and
transferred my call. However, the person was not available and did not answer
the call. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.36 |
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1 |
INR 92.51 |
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Euro |
1 |
INR 81.05 |
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USD |
1 |
INR 66.80 |
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 : |
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
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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.