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MIRA INFORM REPORT
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Report No. : |
506171 |
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Report Date : |
27.04.2018 |
IDENTIFICATION DETAILS
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Name : |
PLASTICS ENGINEERING COMPANY |
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Registered Office : |
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Country : |
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Financials (as on) : |
2016 [Summarized] |
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Date of Incorporation : |
1934 |
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Legal Form : |
Corporation |
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Line of Business : |
Manufactures Phenolic Resins and Thermoset Molding Materials. |
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No. of Employees : |
450 |
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 : |
Exist |
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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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
In the
Long-term problems for the
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
Imported oil accounts for more than 50% of
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: |
PLASTICS ENGINEERING COMPANY |
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Trade Names: |
PLENCO |
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ID: |
1P03934 |
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Date Created: |
1934 |
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Date Incorporated: |
December 29, 1949 |
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Legal Address: |
3518 Lakeshore Rd, P O Box 758 Sheboygan, WI 53082-0758 USA |
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Operative Address: |
3518 Lakeshore Road Sheboygan, WI 53083 USA |
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Telephone: |
(920) 458-2121 |
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Fax: |
(920) 458-1923 |
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Legal Form: |
Corporation |
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Email: |
salesinfo@plenco.com |
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Registered in: |
WISCONSIN |
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Website: |
www.plenco.com |
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Contact: |
Michael R. Brotz - President |
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Staff: |
450 |
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Activity: |
SIC Code: 2821, Plastics Material and Synthetic Resins, and
Nonvulcanizable Elastomers NAICS Code: 325211, Plastics Material and Resin Manufacturing |
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Banks: |
BANK OF AMERICA |
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History: |
The company was founded in 1934 and is based in Sheboygan, Wisconsin. |
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PRINCIPAL
ACTIVITY
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Plastics Engineering Company Inc. manufactures phenolic resins and
thermoset molding materials. |
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Products/Services description: |
It offers phenolic resins for ablation, abrasives, adhesives, carbon,
coatings, composites, felt bonding, foam, foundry, friction, proppants,
refractory, rubber, and substrate saturation applications. The company also
provides phenolic molding materials for cookware handles and knobs,
electrical terminal strips, small appliance parts, gas meter parts, bottle
and container covers and closures, electrical applications, and parts for
automotive interiors, as well as drive train components, brake components,
engine oil fill caps, and motor and alternator components. In addition, it
offers BMC/thermoset polyester molding materials for major appliance parts,
components for small electrical appliances, HVAC components, industrial light
housings, automotive valve covers, headlight liners, ignition parts, electric
motor mounts, brush cards, brush holders, starter housings, circuit breaker
housings, and recessed lighting baffles. Further, the company provides
melamine-phenolic molding materials for colored knobs, buttons, toggles,
medical and dental equipment, electrical contact blocks, switchgear, relay
bases, wire nuts, thermostat housings, shuffleboard disks, and automotive
ignition parts. |
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Brands: |
Plenco |
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Sales are: |
Wholesale |
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Clients: |
Plenco De Mexico S De Rl De Cv Ena Industry Co. Ltd. Eaton Technologies S De Rl De Cv TECNOSTAMPTRIULZI MEXICO S DE RL DE CV |
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Suppliers: |
Plenco De Mexico S De Rl De Cv |
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Operations area: |
National and International |
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The company imports from |
MEXICO, NETHERLANDS |
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The company exports to |
MEXICO, SOUTH KOREA |
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The subject employs |
450 employees |
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Payments: |
Regular |
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LOCATION
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Headquarters : |
3518 Lakeshore Road Sheboygan, WI 53083 |
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Comments on Address: |
- |
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Branches: |
North Avenue Plant: 1720 North Avenue Sheboygan, WI 53083 |
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Related Companies: |
Plenco de México, S. de R L de C V Avenida de la Montaña #112 Gafón 4 Parque Industrial Querétaro Santa Rosa Jáuregui, Querétaro, Qro. A.P. #16 CP
76220 |
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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: The major holders of this company are: Michael R Brotz Frank G. Brotz Randy Brotz. |
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Management: |
Michael R. Brotz - President Frank G. Brotz - Executive Vice President |
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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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Sales |
57.600.000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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PATENTS |
Thermoplastic polyester blends Patent number: 4952629 Abstract: A polymer blend of superior impact resistance comprises an intimate
blend of a polyalkylene terephthalate resin, a polyesteramide and an impact
resistance booster which is an elastomeric block copolymer. The preferred
impact resistance booster is a block copolymer which has been modified with
maleic acid anhydride. Type: Grant Filed: December 7, 1988 Date of Patent: August 28, 1990 Assignee: Plastics Engineering Company Inventor: Yeon F. Liang Thermoplastic polyester blends of improved impact resistance Patent number: 4889898 Abstract: A polymer blend of superior impact resistance comprises an
intimate blend of a polyester resin, a polycarbonate resin and an
acid-modified polyolefin. The preferred acid-modified polyolefin is a
polyethylene wax which has been modified with maleic acid anhydride. Type: Grant Filed: February 8, 1989 Date of Patent: December 26, 1989 Assignee: Plastics Engineering Company Inventor: Yeon F. Liang Bis-(maleamic acid) derivatives of triamines Patent number: 4438280 Abstract: The compositions described herein comprise polyimides having
bis-maleimide terminal groups and having the formula: ##STR1## wherein Q is a
trivalent aromatic radical, Ar is a divalent aromatic radical, Ar" is a
tetravalent aromatic radical and n has a value of 0-20. Derivatives may be
made of these compounds by homopolymerization, copolymerization with other
copolymerizable materials and by reaction with Diels-Alder reactable
materials. Type: Grant Filed: July 12, 1982 Date of Patent: March 20, 1984 Assignee: Plastics Engineering Company Inventor: Walter J. Monacelli Thermosetting resin compositions Patent number: 5750597 Abstract: A thermosetting resin composition which can be used to
produce pultruded products with a lustrous surface finish comprises about 60%
to about 95% by weight of an uncured, liquid phenolic resin containing about
70-90% solids by weight and about 5 to about 40% of particles of a molding
composition comprising an uncured, solid phenolic resin and a suitable
filler. Type: Grant Filed: June 20, 1996 Date of Patent: May 12, 1998 Assignee: Plastics Engineering Company Inventor: Phillip A. Waitkus Novel thermosetting compositions and molding method Patent number: 4880893 Abstract: A thermosetting resin containing composition can be heated to
reduce its viscosity and used as a liquid in a liquid injection molding
method. It has a phenolic resin content of about 80% to about 90% solids by
weight, and contains about 5% to about 40% of a polyglycol. The composition
may also contain resorcinol as a compatibilizing agent and a polyalkylene
gylcol as the polyglycol agent. In a novel method the resin containing
composition is heated to reduce its viscosity and introduced into a heated
mold in a liquid injection molding method. Type: Grant Filed: December 28, 1988 Date of Patent: November 14, 1989 Assignee: Plastics Engineering Company Inventor: Phillip A. Waitkus |
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GOVERNMENT CONTRACTS |
No were found. |
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CASES |
Piercey v. Plastics Engineering Company et al Plaintiff: Linda Piercey and Leonard Piercey Defendant: Plastics Engineering Company, Occidental Chemical
Corporation, Cytec Industries, Inc.; Cytec Engineered Materials, Inc.,
Whittaker, Clark & Daniels, Inc. and Union Carbide Corporation Case Number: 1:2018cv00038 Filed: March 30, 2018 Court: Kentucky Western District Court Office: Bowling Green Office County: Warren Presiding Judge: Greg N. Stivers Nature of Suit: Asbestos Personal Injury Product Liability Cause of Action: 28:1332 Jury Demanded By: Plaintiff White v. Plastics Engineering Company et al Plaintiff: John White Defendant: Plastics Engineering Company, Cytec Industries, Inc.; Cytec
Engineered Materials, Inc., Occidental Chemical Corporation, Whittaker, Clark
& Daniels, Inc., General Electric Company and Union Carbide Corporation Case Number: 1:2018cv00021 Filed: February 12, 2018 Court: Kentucky Western District Court Office: Bowling Green Office County: Logan Presiding Judge: Greg N. Stivers Nature of Suit: Asbestos Personal Injury Product Liability Cause of Action: 28:1332 Jury Demanded By: Both Adams et al v. 3M Company F/K/A Minnesota Mining & Manufacturing
Company et al Plaintiff: John H Adams and Lorraine Adams Defendant: 3M Company F/K/A Minnesota Mining & Manufacturing
Company, Appleton Grp LLC, The Boeing Company, CBS Corporation, Certainteed
Corporation, Cooper Industries LLC, Cytec Engineered Materials, Inc., Eaton
Corporation, Emerson Electric Co., General Electric Company, Guard-Line Inc,
Hollingsworth & Vose Company, Lockheed Martin Corporation, Meriden Molded
Plastics, Inc., Occidental Chemical Corporation, Plastics Engineering
Company, R J Reynolds Tobacco Company, Rockwell Automation Inc, Rogers
Corporation, Schneider Electric USA, Inc. and Union Carbide Corporation Cross_claimant: Certainteed Corporation and Eaton Corporation Cross_defendant: Certainteed Corporation, 3M Company F/K/A Minnesota
Mining & Manufacturing Company, Appleton Grp LLC, The Boeing Company, CBS
Corporation, Cooper Industries LLC, Cytec Engineered Materials, Inc., Eaton
Corporation, Emerson Electric Co., General Electric Company, Guard-Line Inc,
Hollingsworth & Vose Company, Lockheed Martin Corporation, Meriden Molded
Plastics, Inc., Occidental Chemical Corporation, Plastics Engineering
Company, R J Reynolds Tobacco Company, Rockwell Automation Inc, Rogers
Corporation, Schneider Electric USA, Inc. and Union Carbide Corporation Case Number: 4:2017cv03755 Filed: December 12, 2017 Court: Texas Southern District Court Office: Houston Office County: Harris Presiding Judge: Vanessa D Gilmore Nature of Suit: Asbestos Personal Injury Product Liability Cause of Action: 28:1442 Jury Demanded By: Plaintiff Alexander et al v.Honeywell International et al Plaintiff: William K. Alexander Defendant: Anco Insulations Inc, Borg-Warner Morse Tec LLC, BW/IP,
Inc., CBS Corporation, Eagle, Inc., Emerson Electric Co., Ford Motor Company,
General Electric Company, Gould Electronics, Inc., 3M Company, Occidental
Chemical Corporation, Plastics Engineering Company, Riley Power, Inc.,
Rockwell Automation, Inc., Rogers Corporation, Sherwin-Williams Company,
Spirax Sarco, Inc., Taylor-Seidenbach, Inc., BASF Corporation, CNA Holdings,
LLC, DSM Copolymer, Inc., Exxon Mobil Corporation, Firestone Polymers, LLC, Georgia-Pacific
LLC, Hexion, Inc., Honeywell International, Inc., Novartis Corporation,
Safety-Kleen Systems, Inc., Shell Chemical, LP, Shell Oil Company,
Metropolitan Life Insurance Company and Valero Energy Corporation Case Number: 2:2017cv12062 Filed: November 8, 2017 Court: Louisiana Eastern District Court Office: New Orleans Office County: Out of State Presiding Judge: Eldon E. Fallon Referring Judge: Joseph C. Wilkinson Nature of Suit: Asbestos Personal Injury Product Liability Cause of Action: 28:1332 Jury Demanded By: Plaintiff |
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TRADEMARKS |
PLENCO phenolic synthetic resins and phenolic molding compounds for general
industrial use Owned by: Plastics Engineering Company Serial Number: 74285889 PLENCO phenolic synthetic resins, phenolic molding compounds,
melamine-phenolic molding compounds, polyester molding compounds, [… Owned by: Plastics Engineering Company Serial Number: 74393171 PLENCO Phenolic synthetic resins, phenolic molding compounds, melamine-phenolic
molding compounds, polyester molding compounds, [… Owned by: Plastics Engineering Company Serial Number: 78137391 |
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RENEWAL HISTORY |
No records were found. |
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UCC |
No records were found. |
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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 1934, Plastics Engineering Company is an organization in
the Plastic Materials Industry headquartered in Sheboygan, WI. The company has 450 regular employees and generates an estimated $57.6
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 |
Regular |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW |
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NAME |
Timothy |
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POSITION |
Purchasing |
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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 President. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.83 |
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1 |
INR 93.17 |
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Euro |
1 |
INR 81.37 |
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US Dollar |
1 |
INR 66.78 |
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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NIY |
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Report Prepared
by : |
TPT |
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.