|
|
|
MIRA INFORM REPORT
|
Report No. : |
506052 |
|
Report Date : |
27.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
PRICE & PIERCE INTERNATIONAL INC. |
|
|
|
|
Registered Office : |
251 Little Falls Drive, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
2016 [Summarized] |
|
|
|
|
Date of Incorporation : |
01.04.1993 |
|
|
|
|
Legal Form : |
Corporation |
|
|
|
|
Line of Business : |
Subject provides global supply chain services and wholesales paper,
pulp and linerboard. |
|
|
|
|
No. of Employees : |
37 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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
|
Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
United States |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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.
|
Source
: CIA |
STATUTORY
INFORMATION
|
|
|
Legal Name: |
PRICE & PIERCE INTERNATIONAL INC. |
|
Trade Names: |
PRICE & PIERCE INTERNATIONAL INC. |
|
ID: |
2331177 |
|
Date Created: |
1993 |
|
Date Incorporated: |
4/1/1993 |
|
Legal Address: |
251 Little Falls Drive, Wilmington, New Castle, De, 19808, USA |
|
Operative Address: |
99 Park Ave., Fl10 New York, New York, 10016, USA |
|
Telephone: |
+1 212-301-0004 |
|
Fax: |
+1 212.519.6399 |
|
Legal Form: |
Corporation |
|
Email: |
- |
|
Registered in: |
DELAWARE |
|
Website: |
www.price-pierce.com |
|
Contact: |
Jim Costenbader – President |
|
Staff: |
37 |
|
Activity: |
SIC Code 5111, Printing and Writing Paper |
|
|
|
|
Banks: |
BANK OF AMERICA |
|
|
|
|
History: |
The company was founded in 1993. |
|
|
|
|
Parent Company: |
The company operates as a subsidiary of: Forefront Tower, 3-12-1 Kachidoki, Chuo-Ku, Tokyo 104-8656 Japan |
|
|
|
PRINCIPAL
ACTIVITY
|
|
|
|
Price & Pierce International Inc. provides global supply chain services
and wholesales paper, pulp and linerboard. |
|
Products/Services description: |
The company provides warehousing, ocean freight, credit and financing
services. It also offers Unbleached liner board; Kraft and test; White top liner board:
coated and uncoated; Medium containerboard: semichem and recycled; Pulp;
Recovered fiber; Tissue; Coated and uncoated woodfree (offset and tablet);Newsprint Supercalendered paper. |
|
Brands: |
PRICE & PIERCE INTERNATIONAL |
|
Sales are: |
Wholesale |
|
Clients: |
Abastecedora De Oficinas SA De Cv Intl De Fibras Y Equipos SA De Cv Empaques De Carton Monterrey SA De Cv Talico SA |
|
Suppliers: |
Hamburger Rieger Gmbh Upm (China) Co., Ltd. Yuen Foong Yu Paper Mfg. Co., Ltd. |
|
Operations area: |
National and International |
|
The company imports from |
GERMANY CHINA TAIWAN |
|
The company exports to |
MEXICO |
|
The subject employs |
37 employees |
|
Payments: |
No Complaints |
|
|
|
LOCATION
|
|
|
Headquarters : |
99 PARK AVE., FL10 NEW YORK, NEW YORK, 10016, USA |
|
Comments on Address: |
- |
|
Branches: |
No other branches were found. |
|
Related Companies: |
Gould Paper Corporation 99 Park Avenue New York, NY 10016 USA Ocean Paper 99 Park Avenue New York, NY 10016, USA Town Paper 99 Park Avenue New York, NY 10016, USA Gould Publishing & Catalog 25 East Street Winchester, MA 01890, USA Gould Paper South, LLC 10400 N.W. 21st. Suite 104 Doral, FL 33172, USA Japan Pulp & Paper (U.S.A.) Corp. 5928, S. Malt Avenue. Los Angeles, CA 90040, USA Western-BRW Paper 1800 Kelly Blvd Carrollton, TX 75006, USA Western-BRW Paper 1600 N. State 291 HWY Unit 785 Independence, MO 64054, USA Bosworth Papers – Austin 6301 E. Stassney Ln Bldg #9, #200 Austin, TX 78744, USA Bosworth Papers – Houston 10425 Okanella St #600 Houston, TX 77041, USA Bosworth – South 3939 Hillcroft , #150 Houston, TX 77057, USA Weiss McNair 100 Loren Ave Chico, CA 95928, USA Safeshred Co.,Inc. 5928, S. Malt Avenue. Commerce, CA 90040, USA Talico S.A. de C.V. Calle Leibnitz 20 Piso12 Colonia Anzures Mexico, D.F. 11590 JRS Resources, Inc. 408 East Alondra Ave. Compton, CA 90221, USA |
|
|
|
GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
|
|
|
Listed at the stock exchange: |
NO |
|
Capital: |
NA |
|
Shareholders: |
The company does not disclose information on shareholders. The
following information has been provided by private sources: Forefront Tower, 3-12-1 Kachidoki, Chuo-Ku, Tokyo 104-8656 Japan |
|
Management: |
Jim Costenbader – President Harry E Gould Edward Silver David Berkowitz |
|
|
|
FINANCIAL
INFORMATION
|
|
|
|
The company does not make its financial statements
public. The following information has been provided by private sources: |
|
USD 2016 |
|
|
Sales |
6.000.000 |
|
Cash flow |
Normal |
|
|
|
LEGAL
FILINGS
|
|
|
|
|
|
PATENTS |
No found. |
|
|
|
|
GOVERNMENT CONTRACTS |
No records found. |
|
|
|
|
CASES |
Price & Pierce Intern. v. Spicers Intern. Paper, 50 B.R. 25
(S.D.N.Y. 1985) U.S. District Court for the Southern District of New York - 50 B.R. 25
(S.D.N.Y. 1985) May 20, 1985 50 B.R. 25 (1985) PRICE & PIERCE INTERNATIONAL INC., Plaintiff, v. SPICERS INTERNATIONAL PAPER SALES, INC. and Papeteries De Belgique,
Defendants. No. 84 Civ. 3728 (JFK). United States District Court, S.D. New York. |
|
|
|
|
TRADEMARKS |
No records found. |
|
|
|
|
RENEWAL HISTORY |
No records found. |
|
|
|
|
UCC |
No records found. |
|
|
|
|
OFAC Sanctions List Search |
The company is not listed in the OFAC list. |
|
|
|
SUMMARY
|
|
|
|
Founded in 1993, Price & Pierce International Inc. is an organization
in the Printing and Writing Paper Industry headquartered in New York, NY. The company has 37 regular employees and generates an estimated $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. |
|
|
|
RISK
INFORMATION
|
|
|
DEBTS |
Controlled |
|
PAYMENTS |
No Complaints |
|
CASH FLOW |
Normal |
|
STATUS |
Active |
|
|
|
|
INTERVIEW |
|
|
NAME |
Diane |
|
POSITION |
Operator |
|
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. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 66.83 |
|
|
1 |
INR 93.17 |
|
Euro |
1 |
INR 81.37 |
|
US Dollar |
1 |
INR 66.84 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
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.