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MIRA INFORM REPORT
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Report No. : |
491322 |
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Report Date : |
13.02.2018 |
IDENTIFICATION DETAILS
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Name : |
EVANS CHEMETICS LP |
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Registered Office : |
251 Little Falls Drive, Wilmington, New Castle, De, 19808 |
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Country : |
United States |
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Year of Establishment : |
1938 |
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Legal Form : |
Limited Partnership |
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Line of Business : |
Subject provides organic divalent sulfur chemicals worldwide. |
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No. of Employees : |
81 |
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 (30.06.2017) |
Current Rating (30.09.2017) |
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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 $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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Legal Name: |
EVANS CHEMETICS LP |
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Trade Names: |
EVANS CHEMETICS LP |
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ID: |
4018148 |
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Date Created: |
1938 |
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Date Incorporated: |
8/19/2005 |
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Legal Address: |
251 LITTLE FALLS DRIVE, WILMINGTON, NEW CASTLE, DE, 19808, USA |
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Operative Address: |
500 Frank West Burr Boulevard Glenpointe Center West 4th Floor, Teaneck, NJ 07666 United States |
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Telephone: |
201-992-3100 |
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Fax: |
201-992-3101 |
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Legal Form: |
LIMITED PARTNERSHIP |
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Email: |
info(at)thiochem.com |
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Registered in: |
DELAWARE |
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Website: |
www.evans-chemetics.com |
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Contact: |
Jelle Westra - Chief Executive Officer |
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Staff: |
81 |
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Activity: |
NAICS 1: All Other Miscellaneous Chemical Product and Preparation
Manufacturing SIC 1: Acids |
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BanksBANK OF AMERICA |
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HistoryIn 1938, Dr. Ralph L. Evans founded "Proprietary Products Laboratories" in Hoboken, NJ. In 1949 the company was renamed to EVANS CHEMETICS INC. In 1943 Evans Chemetics relocated to Waterloo, NY, producing sulfur chemicals and hair care products. In 1978, Evans Chemetics chemicals production was sold to W.R. Grace and Company. In 1992, the Organic Chemicals Division of W.R. Grace including the Evans Chemetics business was acquired by Vestar Capital Partners forming Hampshire Chemical Corporation which in 1995 was taken over by Sentrachem, Southafrica. In 1998 Sentrachem was acquired by The Dow Chemical Corporation and Hampshire Chemical Corp. became a fully owned subsidiary. On Sept 19, 2005, BRUNO BOCK CHEMISCHE FABRIK GMBH & CO. KG, Germany, acquired the Evans Chemetics business unit with its production site in Waterloo, New York, through its fully owned subsidiary EVANS CHEMETICS LP with its office now in Teaneck, New Jersey. BRUNO BOCK was founded in 1937 by Bruno Bock and is still privately owned. |
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Parent Company: |
As of September 19, 2005, Evans Chemetics LP operates as a subsidiary
of: BRUNO BOCK Chemische Fabrik GmbH & Co. KG. Eichholzer Str. 23 Marschacht, 21436 Germany |
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Key Developments: |
Evans Chemetics LP Announces Resignation of Detlef Schmidt as Chairman
of the Board of Directors Oct 6 16 Evans Chemetics LP announced resignation of Detlef Schmidt as Chairman
of the Board of Directors on December 31, 2016. During his 18 years of
service to the company, he has had the pleasure to meet and work directly
with many of his valued business partners, yourself included. Mr. Stefan
Wickmann will be his successor, who joined Bruno Bock as Managing Director on
May 1, 2016. |
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PRINCIPAL ACTIVITY |
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Evans Chemetics LP provides organic divalent sulfur chemicals
worldwide. |
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Products/Services description: |
It primarily offers thioglycolic acid, 3-mercaptopropionic acid,
ammonium thioglycolate, and dilaurylthiodipropionate for various
applications, such as PVC heat stabilizers, cosmetics, polymer industry,
oilfield chemicals, cleaners, rubber chemicals, leather chemicals, and
others. |
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Brands: |
EVANS CHEMICALS |
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Sales are: |
Wholesale |
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Clients: |
Laboratorios Pisa S.A. De C.V. Colomer Mexico Sa De Cv Pyosa SA de CV Rohm And Haas Mexico S De Rl De Cv Sabic Innovative Plastics Mexico S De R.L De C.V Buckman Laboratories SA De Cv |
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Suppliers: |
Bruno Bock Chem.Fabrik Gmbh & Co.Kg |
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Operations area: |
National and International |
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The company imports from |
GERMANY |
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The company exports to |
MEXICO |
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The subject employs |
81 employees |
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Payments: |
No Complaints |
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LOCATION |
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Headquarters : |
500 Frank West Burr Boulevard Glenpointe Center West 4th Floor Teaneck, NJ 07666 United States |
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Comments on Address: |
- |
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Branches: |
Evans Chemetics Lp (Branch Location) 228 E Main St Waterloo, New York 13165-1534 United States |
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Related Companies: |
No related companies were found. |
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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 obtained through private sources. As of September 19, 2005, Evans Chemetics LP operates as a subsidiary
of: BRUNO BOCK Chemische Fabrik GmbH & Co. KG. Eichholzer Str. 23 Marschacht, 21436 Germany This information was confirmed by the company. |
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Management: |
Jelle Westra - Chief Executive Officer Anthony Moschetti – Chief Financial Officer Virginia Slowik – Sales Steve Brusso – Plant Management |
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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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Estimated Assets |
7 120 000 |
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Cash flow |
Normal |
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LEGAL FILINGS |
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PATENTS |
No records found. |
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GOVERNMENT CONTRACTS |
No records found. |
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CASES |
State of New York v. Solvent Chemical Company, Inc. Defendant: Recochem and E.I. DuPont De Nemours and Company Third-Party-Defendant: Monty Levy, Haz-O-Waste Corporation, Intersol
Industries, J.H. Williams, Northern Telecom Limited, Republic Environmental
Systems (Brantford, Ltd.), as successor to Palro Environmental Management
Systems Limited, Elderlee, Incorporated, Barth Smelting & Refining Works,
Inc., Does 1-50, Anaconda American Brass, Inc., Alden Engineering, Union
Carbide Corporation, Usarco Ltd., Sipi Metals Corp., Standard Chlorine,
American International, Ansam Metals Corporation, Bay State Refining Company,
Inc., Bay State Smelting Co., Inc., Paul R. Rothery, Jr., David H. Dersham,
Benjamin Sack, Benjamin Harris Co., Brookside Metal, Inc., C.P. Chemical
Company, Inc., C.P. Ship Sales & Service, Quad Chemical Corporation,
Commercial Metals Company, Commodity Metals Corporation, Evans
Chemetics-Hampshire Chemical Corp., The Fairbank Company, Ltd., Fairbanks
Industries, Inc., G.B. International, Inc., N. Kamenske & Co. Inc., March
Chemical Co., Inc., The Marmet Corporation, Monsanto Company, Dow Chemical
Company, H.F. Pollack & Co., Inc., Ingot Metals Co., Limited, Kearny
Smelting & Refining Corporation, Minnesota Mining & Manufacturing
Company, MRM Technical Group, Inc., AlliedSignal Inc., Outokumpu American
Brass, Inc., Cerro Metal Products Company, Colonial Metals Company, Deka
Minerals, Inc., General Motors Corporation, Harrison Radiator Division,
Purity Zinc & Metals Company, Ltd., Plume and Atwood Manufacturing
Company, Occidental Chemical Corporation, The City of Niagara Falls, New
York, Frank Levy, Frontenac Environmental Services, Inc., Laidlaw
Transportation Company, Ltd., Consolidated Rail Corp., Bema Company, Ltd.,
Eastman Kodak Company, PPG Industries, Inc., United States of America, New England
Smelting Works, Volco Brass and Copper Company, Wilson Supply Company,
Riverside Smelting and Refining Company, Revere Copper and Brass
Incorporated, New Record Inc., formerly known as Record Chemical, Joseph
Kuchar, Mycar Metal Finishing Co., Inc., The New Jersey Zinc Co., Polaroid
Corp., Sharper Stainless, Shepard Chemical Works, Inc., Trio Chemical Works,
Inc., Dofasco Inc., Falconer Glass Industries, Inc., Falconer Glass
International, Inc., General Circuits Incorporated, Royal Lubricants Company,
Inc., Scientific Radio Systems, Inc., R.E. Turner, Inc. and ICC Industries,
Inc. Defendant - Appellee: Solvent Chemical Company, Inc. Plaintiff-Counter-Defendant: State of New York Third-Party-Plaintiff: Mader Capital Corp., 3163 Buffalo Avenue
Corporation and Corigan Sanoian, Individually and d/b/a Quad Technologies Third-Party-Plaintiff - Appellant: Olin Corporation Case Number: 13-148 Filed: January 11, 2013 Court: U.S. Court of Appeals, Second Circuit Nature of Suit: STATUTES-Environmental Matters State of New York v. Solvent Chemical Company, Inc. Defendant: Recochem Third-Party-Defendant: C.P. Ship Sales & Service, Barth Smelting
& Refining Works, Inc., ICC Industries, Inc., Usarco Ltd., Frank Levy,
Monty Levy, Union Carbide Corporation, Volco Brass and Copper Company, Wilson
Supply Company, Elderlee, Incorporated, Republic Environmental Systems
(Brantford, Ltd.), as successor to Palro Environmental Management Systems
Limited, Trio Chemical Works, Inc., Revere Copper and Brass Incorporated,
Sharper Stainless, Shepard Chemical Works, Inc., Sipi Metals Corp., Joseph
Kuchar, PPG Industries, Inc., Plume and Atwood Manufacturing Company,
Minnesota Mining & Manufacturing Company, MRM Technical Group, Inc., New
England Smelting Works, United States of America, Occidental Chemical
Corporation, The City of Niagara Falls, New York, Frontenac Environmental
Services, Inc., Laidlaw Transportation Company, Ltd., Consolidated Rail
Corp., Bema Company, Ltd., Eastman Kodak Company, General Motors Corporation,
Harrison Radiator Division, Colonial Metals Company, Cerro Metal Products
Company, Outokumpu American Brass, Inc., AlliedSignal Inc., Purity Zinc &
Metals Company, Ltd., Riverside Smelting and Refining Company, Does 1-50,
Anaconda American Brass, Inc., Alden Engineering, American International,
Ansam Metals Corporation, Bay State Refining Company, Inc., Bay State
Smelting Co., Inc., Paul R. Rothery, Jr., David H. Dersham, Benjamin Sack,
Benjamin Harris Co., Brookside Metal, Inc., C.P. Chemical Company, Inc.,
Mycar Metal Finishing Co., Inc., The New Jersey Zinc Co., New Record Inc.,
formerly known as Record Chemical, Polaroid Corp., March Chemical Co., Inc.,
The Marmet Corporation, Monsanto Company, N. Kamenske & Co. Inc.,
Fairbanks Industries, Inc., G.B. International, Inc., H.F. Pollack & Co.,
Inc., Ingot Metals Co., Limited, Kearny Smelting & Refining Corporation,
Dow Chemical Company, Deka Minerals, Inc., Royal Lubricants Company, Inc.,
Scientific Radio Systems, Inc., R.E. Turner, Inc., The Fairbank Company,
Ltd., Evans Chemetics-Hampshire Chemical Corp., Standard Chlorine, Dofasco
Inc., Falconer Glass Industries, Inc., Falconer Glass International, Inc.,
General Circuits Incorporated, Haz-O-Waste Corporation, Intersol Industries,
J.H. Williams, Northern Telecom Limited, Quad Chemical Corporation,
Commercial Metals Company and Commodity Metals Corporation Defendant - Appellee: Solvent Chemical Company, Inc. Defendant - Appellant: E.I. DuPont De Nemours and Company Third-Party-Plaintiff: Olin Corporation, Mader Capital Corp., 3163
Buffalo Avenue Corporation and Corigan Sanoian, Individually and d/b/a Quad
Technologies Plaintiff-Counter-Defendant: State of New York Case Number: 13-132 Filed: January 11, 2013 Court: U.S. Court of Appeals, Second Circuit Nature of Suit: STATUTES-Environmental Matters |
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TRADEMARKS |
THIOCURE sulfur-based chemicals for use in the manufacture of polymers Owned by: EVANS CHEMETICS LP Serial Number: 77042522 EVANACID ORGANIC CHEMICALS Owned by: Evans Chemetics LP Serial Number: 87245299 EVANSTAB ORGANIC CHEMICALS Owned by: Evans Chemetics LP Serial Number: 87245324 |
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RENEWAL HISTORY |
No records found. |
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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. |
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SUMMARY |
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Founded in 1938, Evans Chemetics Lp is a mid-sized organization in the
chemical preparation company’s industry located in Teaneck, NJ. It has 81 full time employees and generates $7.1 million in annual
revenue. The company operates nationally and internationally, mainly importing
form Germany. 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 |
John |
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POSITION |
Sales |
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COMMENTS |
He confirmed the name of the parent 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 64.28 |
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1 |
INR 89.02 |
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Euro |
1 |
INR 78.93 |
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USD |
1 |
INR 64.23 |
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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PRA |
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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
·
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.