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MIRA INFORM REPORT
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Report No. : |
484423 |
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Report Date : |
06.01.2018 |
IDENTIFICATION DETAILS
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Name : |
WEIR VALVES & CONTROLS USA INC. |
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Formerly Known As : |
HOPHOLD A&M, INC |
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Registered Office : |
155 Federal St. Ste. 700, Boston, MA 02110 |
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Country : |
United States |
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Date of Incorporation : |
1900 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject manufactures valves for the nuclear industry. |
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No. of Employees : |
168 |
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 : |
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 has 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: |
WEIR VALVES & CONTROLS USA INC. |
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Trade Names: |
WEIR VALVES & CONTROLS USA INC. |
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ID: |
042903959 |
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Date Created: |
1900 |
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Date Incorporated: |
January 2, 1986 |
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Legal Address: |
155 Federal St. Ste. 700 Boston, MA 02110, USA |
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Operative Address: |
29 Old Right Road Ipswich, MA 01938, USA |
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Telephone: |
978-744-5690 |
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Fax: |
978-741-3626 |
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Legal Form: |
Corporation |
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Email: |
sales@weirvalveusa.com |
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Registered in: |
MASSACHUSETTS |
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Website: |
www.weirgroup.com |
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Contact: |
Mark Claffey – President |
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Staff: |
168 |
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Activity: |
NAICS 1: Industrial Valve Manufacturing SIC 1: Industrial Valves |
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Banks
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BANK OF AMERICA |
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History
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The company was founded in 1900. It was formerly known as HOPHOLD
A&M, INC. and changed its name to ATWOOD & MORRILL CO., INC. when it
merged with C & S ACQUISITION CORP. and ATWOOD & MORRILL CO., INC. On
2002, it changed its name to Weir Valves & Controls USA Inc. |
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Parent Company: |
Weir Valves & Controls USA Inc. operates as a subsidiary of: The Weir Group PLC. 1 West Regent Street Glasgow, G2 1RW United Kingdom |
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PRINCIPAL
ACTIVITY
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Weir Valves & Controls USA Inc. manufactures valves for the
nuclear industry. |
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Products/Services description: |
The company offers industrial valve products. |
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Brands: |
Allen Steam Turbines™, Aspir™, Atwood & Morrill®, AutoTork™,
Batley Valve®, BDK™, Begemann®, Blakeborough®, Cavex®, Delta Industrial™,
Enduron®, Floway®, Gabbioneta™, GEHO®, Gemex™ Hazleton®, Hopkinsons®, Hydrau-Flo®, Isogate®, Lewis®, Linatex® Mathena™, Multiflo®, Novatech®, Roto-Jet®, Sarasin-RSBD™. Seaboard™, SEBIM™, SPM®, Stampede®, Tricentric®, Trio®, Vulco® Warman®, WEMCO® and WSP™. |
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Sales are: |
Wholesale |
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Clients: |
Samax Field Services,S.A.De C.V. |
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Suppliers: |
Weir Group Energy Equipment(Suzhou) Weir Valves & Controls (Suzhou) Co., Ltd. King Lu Industries, Inc. Ameya Precision Engineers Private Limited Weir India Pvt Ltd Weir Minerals Malaysia (Lrp) Weir Valves & Controls Flowguard Ltd. |
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Operations area: |
National and International |
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The company imports from |
CHINA INDIA MALAYSIA UNITED KINGDOM |
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The company exports to |
MEXICO |
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The subject employs |
168 employees |
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Payments: |
Regular |
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LOCATION
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Headquarters : |
29 Old Right Road Ipswich, MA 01938, USA |
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Comments on Address: |
- |
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Branches: |
Weir Valves & Controls Usa Inc. (Branch
Location) 339 Old Bath Hwy Washington, North Carolina 27889-7760 United States |
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Related Companies: |
The company has several sister companies. Some of them are: Weir Engineering Services Pegasus House, Bramah Avenue Scottish Enterprise Technology Park East Kilbride Scotland G75 0RD Weir Minerals Europe Limited Unit 3 Soloman Park Cossall Industrial Estate Ilkeston Derbyshire DE7 5UE Weir Minerals Europe Limited Istanbul Tuzla Organize Sanayi Bölgesi 2. Cadde No:12 Tepeören, Tuzla 34959 Istanbul Weir Minerals Brasil Rua Rio Azul , 230, Beira Rio Parauapebas, Pará CEP 68.515-000 |
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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: |
Weir Valves & Controls USA Inc. operates as a subsidiary of: The Weir Group PLC. 1 West Regent Street Glasgow, G2 1RW United Kingdom |
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Management: |
Mark Claffey – President James Lowery - VP of Sales & Marketing Julia Henning – Human Resources |
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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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Revenue |
25.000.000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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PATENTS |
Thermal compensatory valve Publication number: 20060266963 Abstract: A compensation device for a valve compensates for expansion of
a valve stem and/or inertial effects during operation of the valve. The
compensation device is preferably integrally provided with the valve. The
compensation device includes a first plate rigidly connected to the body of
the valve and a second plate movably coupled to the first plate. The second
plate is rigidly coupled to the operator assembly housing that houses and
controls the movement of the second end of the valve stem, so that movement
of the second plate relative to the first plate moves the operator assembly
relative to the valve body to compensate for expansion of the valve stem
and/or inertial forces. The first plate and second plate remain in radial
alignment during the relative movement. One or more biasing elements, such as
spring assemblies, are used to connect the first plate and the second plate
to bias the plates in a default position, absorb forces and allow for
movement of the second plate relative to the first plate. Type: Application Filed: May 27, 2005 Publication date: November 30, 2006 Applicant: Weir Valves & Controls USA Inc. Inventor: Sam Shields Thermal compensatory valve Patent number: 7300034 Abstract: A compensation device for a valve compensates for expansion
of a valve stem and/or inertial effects during operation of the valve. The
compensation device is preferably integrally provided with the valve. The
compensation device includes a first plate rigidly connected to the body of
the valve and a second plate movably coupled to the first plate. The second
plate is rigidly coupled to the operator assembly housing that houses and
controls the movement of the second end of the valve stem, so that movement
of the second plate relative to the first plate moves the operator assembly
relative to the valve body to compensate for expansion of the valve stem
and/or inertial forces. The first plate and second plate remain in radial
alignment during the relative movement. One or more biasing elements, such as
spring assemblies, are used to connect the first plate and the second plate
to bias the plates in a default position, absorb forces and allow for
movement of the second plate relative to the first plate. Type: Grant Filed: May 27, 2005 Date of Patent: November 27, 2007 Assignee: Weir Valves & Controls USA Inc. Inventor: Sam N. Shields |
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GOVERNMENT CONTRACTS |
No found. |
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CASES |
Varney et al v. Air & Liquid Systems Corporation et al Plaintiff: Donald Varney and Maria Varney Defendant: Air & Liquid Systems Corporation, Alfa Laval Inc, ARMSTRONG
INTERNATIONAL, INC., Aurora Pump Company, Blackmer Pump Company, BNS Co.,
BW/IP Inc., CBS Corporation, CLA-VAL Co., Clark-Reliance Corporation, Crane
Co., Crane Environmental Inc, CROSBY VALVE, INC., Crown Cork & Seal
Company, Inc., Darigold, Inc, Elliott Turbomachinery Co Inc, Flowserve US
Inc., FMC Corporation, Foster Wheeler Energy Corporation, Fryer-Knowles Inc,
General Electric Company, The Goodyear Tire & Rubber Company, The
Gorman-Rupp Company, GOULDS PUMPS, INC., Grinnell LLC, Hopeman Brothers Inc,
IMO Industries Inc, Ingersoll-Rand Company, ITT, LLC, John Crane Inc, M.
Slayen and Associates, Inc., McNally Industries LLC, Metropolitan Life
Insurance Company, The Nash Engineering Company, Parker-Hannifin Corporation,
SB Decking, Inc, Sterling Fluid Systems (USA) LLC, Superior-Lidgerwood-Mundy
Corporation, Taco, Inc., Uniroyal Holding Inc., Viking Pump Inc, Warren Pumps
LLC, Weir Valves & Controls USA,
Inc., The William Powell Company and Velan Valve Corp Case Number: 2:2017cv01902 Filed: December 20, 2017 Court: Washington Western District Court Office: Seattle Office County: King Nature of Suit: Other Cause of Action: 28:1332 Jury Demanded By: Plaintiff Connor-Lopez et al v. Aerco International, Inc.
et al Plaintiff: Lynda Connor-Lopez, Gail Rochester, Angelina Marie Chapman,
Glenn L. Connor, Sydney A. Connor, Tracy Connor and Elmer Connor, III Defendant: Aerco, International, Inc., Alfa Laval Inc., Ameron
International Corporation, Armstrong International, Inc., Armstrong Pumps,
Inc., Aurora Pump Company, Beazer East, Inc., Blackmer Pump Company, Buffalo
Air Handling, Buffalo Pumps, Inc., CBS Corporation, Certainteed Corporation,
Crane Co., Crosby Valve, LLC, Crown Cork & Seal Company, Inc., Flowserve US
Inc, Solely as Successor to Rockwell Manufacturing Company, Foster Wheeler
Energy Corporation, Gardner Denver, Inc., General Electric Company,
Georgia-Pacific, LLC, The Goodyear Tire & Rubber Company, Goulds Pumps
(IPG), Inc., Grinnell, LLC, Hopeman Brothers, Inc., IMO Industries, Inc.,
Industrial Holdings Corporation, Ingersoll-Rand Company, ITT Corporation,
John Crane, Inc., Joy Global Surface Mining Inc., 3M Company, The Nash
Engineering Company, Nooter Corporation, Pentair Valves & Controls US LP,
Ric-Wil, Inc., Riley Power Inc., Saint-Gobain Abrasives, Inc., Spence
Engineering Company, Inc., Spirax Sarco Inc., Sterling Fluid Systems (USA),
LLC, Sulzer Pumps (US), Inc., Trane US, Inc., Union Carbide Corporation, URS
Corporation, Velan Valve Corp., Warren Pumps, LLC, Weir Valves & Controls USA, Inc., The William Powell Company,
York International Corporation, Zurn Industries, LLC and Metropolitan Life
Insurance Co. Cross_claimant: John Crane, Inc., Industrial Holdings Corporation, The
Nash Engineering Company, Crane Co., Pentair Valves & Controls US LP,
Armstrong International, Inc., Armstrong Pumps, Inc., Sulzer Pumps (US),
Inc., Crosby Valve, LLC, Alfa Laval Inc., Flowserve US Inc, Solely as
Successor to Rockwell Manufacturing Company, Foster Wheeler Energy Corporation,
Riley Power Inc. and The William Powell Company Cross_defendant: John Crane, Inc., 3M Company, Aerco, International,
Inc., Alfa Laval Inc., Ameron International Corporation, Armstrong
International, Inc., Armstrong Pumps, Inc., Aurora Pump Company, Beazer East,
Inc., Blackmer Pump Company, Buffalo Air Handling, Buffalo Pumps, Inc., CBS
Corporation, Certainteed Corporation, Crane Co., Crosby Valve, LLC, Crown
Cork & Seal Company, Inc., Flowserve US Inc, Solely as Successor to
Rockwell Manufacturing Company, Foster Wheeler Energy Corporation, Gardner
Denver, Inc., General Electric Company, Georgia-Pacific, LLC, Goulds Pumps
(IPG), Inc., Grinnell, LLC, Hercules, LLC, Hopeman Brothers, Inc., IMO
Industries, Inc., ITT Corporation, Industrial Holdings Corporation,
Ingersoll-Rand Company, Joy Global Surface Mining Inc., Metropolitan Life
Insurance Co., Nooter Corporation, Pentair Valves & Controls US LP,
Ric-Wil, Inc., Riley Power Inc., Saint-Gobain Abrasives, Inc., Spence
Engineering Company, Inc., Spirax Sarco Inc., Sterling Fluid Systems (USA),
LLC, Sulzer Pumps (US), Inc., The Goodyear Tire & Rubber Company, The
Nash Engineering Company, The William Powell Company, Trane US, Inc., URS
Corporation, Union Carbide Corporation, Velan Valve Corp., Viad Corporation,
Warren Pumps, LLC, Weir Valves & Controls USA, Inc., York International
Corporation, Zurn Industries, LLC, BW/IP, Inc., Cleaver-Brooks, Flowserve
Corporation, Flowserve US Inc.,, Honeywell International, Inc. and 4520 Corp.
Inc. Case Number: 1:2017cv03596 Filed: December 4, 2017 Court: Maryland District Court Office: Baltimore Office County: Baltimore City Presiding Judge: Richard D. Bennett Nature of Suit: Asbestos Personal Injury Product Liability Cause of Action: 28:1441 Jury Demanded By: Plaintiff |
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TRADEMARKS |
ISO-CHECK VALVES Owned by: WEIR VALVES & CONTROLS USA INC. Serial Number: 72192981 A&M VALVES Owned by: WEIR VALVES & CONTROLS USA INC. Serial Number: 72365658 ATWOOD & MORRILL DESIGN AND ENGINEERING SERVICES RELATING TO VALVES FOR POWER PLANT,
OIL INDUSTRY, MARINE AND INDUSTRIAL FIELDS Owned by: WEIR VALVES & CONTROLS USA INC. Serial Number: 72386814 TRICENTRIC QUARTER TURN VALVES Owned by: WEIR VALVES & CONTROLS USA INC. Serial Number: 73109649 Image Trademark high performance metal valves for use in pulp and paper mills,
refineries, conventional and nuclear power plants, steel… Owned by: WEIR VALVES & CONTROLS USA INC. Serial Number: 75017021 |
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RENEWAL HISTORY |
Name of filing Year filed Date filed Filing No. Annual Report 2016 02/02/2017 02:06 PM 201715661630 Statement of Change of Supplemental Information 07/13/2016 01:59 PM 201691010060 Annual Report 2015 02/16/2016 09:32 AM 201665347710 Statement of Change of Supplemental Information 09/09/2015 11:17 AM 201544599630 Annual Report 2014 03/10/2015 04:00 PM 201521097360 Statement of Change of Supplemental Information 09/18/2014 02:24 PM 201496572330 Annual Report 2013 09/18/2014 01:44 PM 201496563680 |
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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 1900, Weir Valves & Controls Usa Inc. is a mid-sized organization
in the industrial valve manufacturers industry located in Ipswich, MA. It has 168 full time employees and generates an estimated $25 million
in annual revenue. The company operates nationally and internationally, mainly importing
from China, India, Malaysia and United Kingdom. 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 |
Janet |
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POSITION |
Operator |
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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. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.38 |
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1 |
INR 86.02 |
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Euro |
1 |
INR 76.50 |
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USD |
1 |
INR 63.34 |
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 : |
SYL |
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.