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MIRA INFORM REPORT
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Report No. : |
489140 |
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Report Date : |
01.02.2018 |
IDENTIFICATION DETAILS
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Name : |
TRI-UNION FROZEN PRODUCTS,
INC. |
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Registered Office : |
The
Corporation Trust Company (Registered Agent) Corporation
Trust Center 1209 Orange St Wilmington, New Castle, De 19801 |
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Country : |
United States |
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Date of Incorporation : |
1914 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject is a mid-sized
organization in the fish and seafood companies industry located in El
Segundo, CA. |
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No. of Employees : |
110 |
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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Maximum Credit Limit : |
USD 200 000 |
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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.
UNITED STATES - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with a
per capita GDP of $57,300. US firms are at or near the forefront in
technological advances, especially in computers, pharmaceuticals, and medical,
aerospace, and military equipment; however, their advantage has narrowed since
the end of World War II. Based on a comparison of GDP measured at purchasing
power parity conversion rates, the US economy in 2014, having stood as the
largest in the world for more than a century, slipped into second place behind
China, which has more than tripled the US growth rate for each year of the past
four decades.
In the US, private individuals and business firms make most of the
decisions, and the federal and state governments buy needed goods and services
predominantly in the private marketplace. US business firms enjoy greater
flexibility than their counterparts in Western Europe and Japan in decisions to
expand capital plant, to lay off surplus workers, and to develop new products.
At the same time, businesses face higher barriers to enter their rivals' home
markets than foreign firms face entering US markets.
Long-term problems for the US include stagnation of wages for
lower-income families, inadequate investment in deteriorating infrastructure,
rapidly rising medical and pension costs of an aging population, energy shortages,
and sizable current account and budget deficits.
The onrush of technology has been a driving factor in the gradual
development of a "two-tier" labor market in which those at the bottom
lack the education and the professional/technical skills of those at the top
and, more and more, fail to get comparable pay raises, health insurance
coverage, and other benefits. But the globalization of trade, and especially
the rise of low-wage producers such as China, has put additional downward
pressure on wages and upward pressure on the return to capital. Since 1975,
practically all the gains in household income have gone to the top 20% of
households. Since 1996, dividends and capital gains have grown faster than
wages or any other category of after-tax income.
Imported oil accounts for nearly 55% of US consumption and oil has a
major impact on the overall health of the economy. Crude oil prices doubled
between 2001 and 2006, the year home prices peaked; higher gasoline prices ate
into consumers' budgets and many individuals fell behind in their mortgage
payments. Oil prices climbed another 50% between 2006 and 2008, and bank
foreclosures more than doubled in the same period. Besides dampening the
housing market, soaring oil prices caused a drop in the value of the dollar and
a deterioration in the US merchandise trade deficit, which peaked at $840
billion in 2008. Because the US economy is energy-intensive, falling oil prices
since 2013 have alleviated many of the problems the earlier increases had
created.
The sub-prime mortgage crisis, falling home prices, investment bank
failures, tight credit, and the global economic downturn pushed the US into a
recession by mid-2008. GDP contracted until the third quarter of 2009, making
this the deepest and longest downturn since the Great Depression. To help
stabilize financial markets, the US Congress established a $700 billion
Troubled Asset Relief Program (TARP) in October 2008. The government used some
of these funds to purchase equity in US banks and industrial corporations, much
of which had been returned to the government by early 2011. In January 2009,
Congress passed and President Barack OBAMA signed a bill providing an
additional $787 billion fiscal stimulus to be used over 10 years - two-thirds
on additional spending and one-third on tax cuts - to create jobs and to help
the economy recover. In 2010 and 2011, the federal budget deficit reached
nearly 9% of GDP. In 2012, the Federal Government reduced the growth of
spending and the deficit shrank to 7.6% of GDP. US revenues from taxes and
other sources are lower, as a percentage of GDP, than those of most other
countries.
Wars in Iraq and Afghanistan required major shifts in national resources
from civilian to military purposes and contributed to the growth of the budget
deficit and public debt. Through 2014, the direct costs of the wars totaled
more than $1.5 trillion, according to US Government figures.
In March 2010, President OBAMA signed into law the Patient Protection
and Affordable Care Act, a health insurance reform that was designed to extend
coverage to an additional 32 million Americans by 2016, through private health
insurance for the general population and Medicaid for the impoverished. Total
spending on healthcare - public plus private - rose from 9.0% of GDP in 1980 to
17.9% in 2010.
In July 2010, the president signed the DODD-FRANK Wall Street Reform and
Consumer Protection Act, a law designed to promote financial stability by
protecting consumers from financial abuses, ending taxpayer bailouts of
financial firms, dealing with troubled banks that are "too big to
fail," and improving accountability and transparency in the financial
system - in particular, by requiring certain financial derivatives to be traded
in markets that are subject to government regulation and oversight.
In December 2012, the Federal Reserve Board (Fed) announced plans to
purchase $85 billion per month of mortgage-backed and Treasury securities in an
effort to hold down long-term interest rates, and to keep short-term rates near
zero until unemployment dropped below 6.5% or inflation rose above 2.5%. In
late 2013, the Fed announced that it would begin scaling back long-term bond
purchases to $75 billion per month in January 2014 and further reduce them as
conditions warranted; the Fed ended the purchases during the summer of 2014. In
2014, the unemployment rate dropped to 6.2%, and continued to fall to 5.5% by
mid-2015, the lowest rate of joblessness since before the global recession
began; inflation stood at 1.7%, and public debt as a share of GDP continued to
decline, following several years of increases. In December 2015, the Fed raised
its target for the benchmark federal funds rate by 0.25%, the first increase
since the recession began. With US GDP growth below 2%, the Fed opted to raise
rates three times since then, and in mid-June 2017, the range for the target
rate stood at 1% to 1.25%.
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Source
: CIA |
STATUTORY
INFORMATION
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Address
in the order: |
1981 Marcus Ave Suite E113, Lake Success, NY 11042 United States The address in the order corresponds to a branch of the company. |
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Legal
Name: |
TRI-UNION FROZEN PRODUCTS, INC. |
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Trade
Name: |
CHICKEN OF THE SEA
INTERNATIONAL CHICKEN OF SEA FROZEN FOODS |
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ID: |
692511 |
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Date
Created: |
1914 |
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Date
Incorporated: |
11/13/1968 |
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Legal
Address: |
The Corporation Trust Company (Registered Agent) Corporation Trust Center 1209 Orange St Wilmington, New Castle De 19801 |
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Operative
Address: |
222 N Sepulveda Blvd Ste 155 El Segundo, CA, 90245 United States |
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Telephone:
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Toll-Free: (844) 267-8862 (310) 469-7030 (516) 740-4100 |
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Fax: |
(516) 740-4100 |
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Legal
Form: |
Corporation |
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Email: |
tufp_info@thaiunion.com |
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Registered
in: |
DELAWARE |
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Website:
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www.chickenofthesea.com |
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Contact: |
Bryan Rosenberg, President |
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Staff: |
110 |
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Activity: |
NAICS 1: Fish and Seafood
Merchant Wholesalers SIC 1: Seafoods |
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BANKS
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The company does not make its banking data public |
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HISTORY
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The company was founded in 1914 |
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Key
Developments: |
The previous name of the
company was Van Camp Seafood. 1917: During domestic food
shortages during WWI, canned tuna fills in as an affordable protein source 1930: Chicken of the Sea
branding appears for the first time. The moniker comes from fishermen who
dubbed white albacore as “the chicken of the sea” for its mild flavor and
color. 1941: The company converted
much of our fishing fleet to transport military gear, ammunition and wounded
soldiers. 1952: Grace Lee Whitney, who
played Yeoman Janice Rand on the original Star Trek series, was the
inspiration for our spirited icon. 1955: Chicken of the Sea
sponsored the Fantasyland pirate ship and restaurant at Disneyland, and
welcomes guests with a six-foot mermaid. 1960: The familiar tune debuts
and becomes an advertising classic. 1990: An industry pioneer in
dolphin-safe fishing practices, the company initiates “The Mermaid Cares:
Dolphin-Safe Policy,” requiring all of their seafood to be dolphin-safe. 2005: Chicken of the Sea revolutionizes
convenience and portion control with ready-to-eat foil pouches and to-go
cups. 2007: Partnering with Feeding
America, the company embarks on a food relief and nutrition campaign
highlighting shelf In partnership with Feeding America, they launch a food
relief and nutrition campaign highlighting shelf-stable seafood as a
nutritious and affordable source of protein. 2009: Dedicated to protecting
oceans for future generations, Chicken of the Sea becomes a co-founding
member of the International Seafood Sustainability Foundation in partnership
with the World Wildlife Fund. 2010: Their state-of-the-art
canning facility in Lyons, Georgia creates over 300 jobs, boosting the local
economy. 2011: Transparency &
Sustainability. This first annual Sustainability
Report shares their environmental and social impacts while developing a
roadmap for future initiatives. |
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PRINCIPAL
ACTIVITY
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Tri-Union Frozen Products, Inc. is a mid-sized organization in the fish
and seafood companies industry located in El Segundo, CA. |
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Products/Services description: |
Tri-Union Frozen Products,
Inc., doing business as Chicken of the Sea Frozen Foods, distributes frozen
seafood products. It offers tuna, clams, crab, mackerel, oysters, salmon,
sardines, shrimps, and kipper snacks, as well as frozen shrimps and
refrigerated crabs. The company provides its products through stores and
online. The company produces and distributes seafood products. The Company
offers curd and frozen fish products. PRODUCTS: CANS, POUCHES & CUPS Salmon Tuna Clams Crab Mackerel Oysters Sardines Shrimp Kipper Snacks FROZEN Frozen Shrimp REFRIGERATED Refrigerated Crab |
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Brands: |
NA |
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Sales are: |
Wholesale |
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Clients: |
SUNKFA INTERNATIONAL FOOD China Empacadora Dufer Cia Ltda. Ecuador |
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Suppliers: |
Rongcheng Puchen Aquatic China Jagadeesh Marine Exports China Thai Union Seafood Co., Ltd. Thailand OPERADORA Y PROCESADORA DE PRODUCTOS MARINOS OMARSA
S.A. Ecuador Foodcorp Chile S.A. Chile Apex Frozen Foods Private Ltd. India |
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Operations area: |
National and International |
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The company imports from |
China, Thailand, Ecuador, Chile
and India |
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The company exports to |
China and Ecuador |
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The subject
employs |
110 employees |
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Payments:
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No Complaints |
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LOCATION
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Headquarters
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222 N Sepulveda Blvd Ste 155 El Segundo, CA, 90245 United States |
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Comments: |
NA |
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Branches: |
1981 Marcus Avenue, Suite 113E,
Lake Success, NY 11042 USA Tel.(516) 740-4100 Fax(516) 621-0199 20 Ladd Street, Portsmouth, NH
03801 USA Tel.(603) 433-2220 Fax(603) 433-8535 |
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Related
Companies: |
NA |
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Main
Competitors: |
H & N Foods International Inc 5580 S Alameda St Vernon, California International Lobster And Maguro, Llc 4890 S Alameda St Unit C Vernon, California Harbor Marine Product, Inc. 1020 E 7th St Los Angeles, California Standard Seafood 2208 Signal Pl San Pedro, California The Rock Seafood & Grill 622 W Tefft St Nipomo, California |
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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: |
This is a private company. It is a subsidiary of Thai Union Group Public Company
Limited 72/1 Moo 7, Setthakit 1 Road Thailand |
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Management:
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Bryan Rosenberg, President Brendon Beck, Vice President Carlos Faria, Vice President
Operations Paul McCarthy, Executive Vice
President Michael Scully, Director
Marketing Development Roland Rivas, Regulatory
Affairs Manager Mary Castro, Information
Technology Manager |
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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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Net Sales |
7,830,000 |
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Cash
flow |
Normal |
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LEGAL
FILINGS
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CASES |
Tri Union Frozen Prods., Inc.
v. United States, No. 14-00249 (Ct. Int'l Trade 2016) Annotate this Case This opinion or order relates
to an opinion or order originally issued on March 7, 2016. Tri-Union Frozen Products, Inc.
v. Travelers Casualty and Surety Company of America Plaintiff: Tri-Union Frozen
Products, Inc. Defendant: Travelers Casualty
and Surety Company of America Case Number: 2:2014cv08128 Filed: October 21, 2014 Court: California Central
District Court Referring Judge: Stephen J.
Hillman Presiding Judge: Stephen V.
Wilson Nature of Suit: Insurance |
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TRADEMARKS |
DIAMOND BRAND frozen Chinese squid Owned by: TRI-UNION FROZEN
PRODUCTS, INC. Serial Number: 74659572 FESTIVA BRAND FROZEN SEAFOOD Owned by: TRI-UNION FROZEN
PRODUCTS, INC. Serial Number: 75376390 QUALITY SEAFOOD FROM AROUND THE
WORLD FROZEN SEAFOOD Owned by: TRI-UNION FROZEN
PRODUCTS, INC. Serial Number: 78711659 FARMBEST frozen seafood sold by importer
to merchants within the industry Owned by: TRI-UNION FROZEN
PRODUCTS, INC. Serial Number: 74230261 QUALITY SEAFOOD FROM AROUND THE
WORLD frozen seafood Owned by: TRI-UNION FROZEN
PRODUCTS, INC. Serial Number: 74592305 BAHIA GOLD Frozen shrimp Owned by: TRI-UNION FROZEN
PRODUCTS, INC. Serial Number: 77739554 ARCTIC GOLD seafood Owned by: TRI-UNION FROZEN
PRODUCTS, INC. Serial Number: 74139540 ASIAN GOLD processed seafood Owned by: TRI-UNION FROZEN
PRODUCTS, INC. Serial Number: 74378135 ORION Frozen seafood Owned by: Tri-Union Frozen
Products, Inc. Serial Number: 87597891 XCELLENT PURE & SIMPLE Frozen seafood Owned by: Tri-Union Frozen
Products, Inc. Serial Number: 87122466 XCELLENT Frozen seafood Owned by: Tri-Union Frozen
Products, Inc. Serial Number: 86614987 X XCELLENT Frozen seafood Owned by: TRI-UNION FROZEN
PRODUCTS, INC. Serial Number: 76257606 Image Trademark frozen seafood Owned by: TRI-UNION FROZEN
PRODUCTS, INC. Serial Number: 74563938 COAST TO COAST SEAFOOD seafood Owned by: TRI-UNION FROZEN
PRODUCTS, INC. Serial Number: 74145383 Image Trademark FROZEN SHRIMP Owned by: TRI-UNION FROZEN
PRODUCTS, INC. Serial Number: 76378850 DREAM KISS Cosmetics, namely, a clear
liquid applied over lipstick Owned by: TRI-UNION FROZEN
PRODUCTS, INC. Serial Number: 78349911 PERLA PACIFICA CANNED [AND FROZEN] SEAFOOD Owned by: TRI-UNION SEAFOODS,
LLC Serial Number: 73783185 DUDE Clothing, namely, t-shirts and
caps Owned by: TRI-UNION FROZEN
PRODUCTS, INC. Serial Number: 77618298 JONAH Fresh, Canned and Frozen
Seafood-Namely, Sardines, Crab, Shrimp, Oysters and Clams Owned by: TRI-UNION SEAFOODS,
LLC Serial Number: 73278462 |
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UCC |
No records found |
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OFAC Sanctions List Search |
The company is not listed
in the OFAC list. |
SUMMARY
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Founded in 1914, Tri-Union Frozen Products, Inc. is
a mid-sized organization in the fish and seafood companies industry located
in El Segundo, CA. The company has approximately 110 full-time employees
and generates an estimated USD 7,8 million in annual revenue. It mainly imports from China, Thailand, Ecuador,
Chile and India, and exports to China and Ecuador, operating within national
and international markets. It is a subsidiary of Thai Union Group Public
Company Limited (Thailand): This has been an ACTIVE company incorporated in
CALIFORNIA in 1968. |
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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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SUGGESTED
CREDIT LINE |
USD 200 000 |
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STATUS |
ACTIVE |
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INTERVIEW |
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NAME |
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POSITION |
Operator |
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COMMENTS |
She confirmed name, address,
telephone, website, email, operations area and principal activity. She also explained that the company
has several branches. She refused to provide staff
number nor information about exports and imports. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.69 |
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1 |
INR 90.35 |
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Euro |
1 |
INR 79.21 |
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US Dollar |
1 |
INR 63.73 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
PRA |
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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.