MIRA INFORM REPORT

Report No. :	485300
Report Date :	11.01.2018

IDENTIFICATION DETAILS

Name :	DAL-TILE CORPORATION
Formerly Known As :	DALLAS CERAMIC COMPANY
Registered Office :	Po Box 17130 Attn: Tax Dept, Dallas, Tx, 75217
Country :	United States
Date of Incorporation :	1992
Legal Form :	Corporation
Line of Business :	Subject is engaged in the manufacture and distribution of ceramic, porcelain, glass, metal, and natural stone tile products for residential and commercial design and construction across North America.
No. of Employees :	8 500

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A+

Credit Rating	Explanation	Rating Comments
A+	Low Risk	Business dealings permissible with low risk of default

Status :	Excellent
Payment Behaviour :	Regular
Litigation :	--

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 (30.06.2017)	Current Rating (30.09.2017)
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 $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%.

Source : CIA

STATUTORY INFORMATION
Address in the order:	PO BOX: 1248 CHATSWORTH, GA 30705 /This is a branch location/
Legal Name:	DAL-TILE CORPORATION
TradeName:	DAL-TILE CORPORATION
ID:	2607239
Date Created:	1992
Date Incorporated:	11/09/1994
Legal Address:	PO BOX 17130 ATTN: TAX DEPT, DALLAS, TX, 75217, USA
Operative Address:	7834 Hawn Freeway Dallas, TX 75217 United States
Telephone:	(972) 226-0110
Fax:	NA
Legal Form:	CORPORATION
Email:	NA
Registered in:	TEXAS
Website:	www.daltile.com
Contact:	HOWARD I BULL CEO
Staff:	8 500
Activity:	NAICS 1: All Other Miscellaneous Manufacturing SIC 1: Atomizers, Toiletry
Banks
BANK OF AMERICA	The Company does not make its banking details public
History
The company was formerly known as Dallas Ceramic Company and changed its name to Dal-Tile Corporation in 1980. The company was founded in 1947 and is based in Dallas, Texas.
PRINCIPAL ACTIVITY
Dal-Tile Corporation is engaged in the manufacture and distribution of ceramic, porcelain, glass, metal, and natural stone tile products for residential and commercial design and construction across North America.
Products/Services description:	It offers porcelain tiles, quarry tiles, ceramic floor and wall tiles, wall and counter tiles, mosaic tiles, glass and metal tiles and decorative accents, recycled floor and glazed floor tiles, natural stone tiles and slabs, quartz tiles and slabs, manufactured stones for commercial and residential projects. Its products are used for kitchens, entry ways, exteriors, bathrooms, living areas, pool applications, pool and spa applications, and other rooms. The company offers its products through company-operated sales service centers, independent distributors, home center retailers, and architectural representatives, as well as online.
Brands:	- Daltile® - American Olean® - Marazzi® - Ragno®
Sales are:	WHOLESALE
Clients:	General clients
Suppliers:	Saudi Marble And Granite Factory Co Saudi Arabia
Operations area:	National
The company imports from	Saudi Arabia
The company exports to	No exports récords found
The subject employs	8 500 mployees
Payments:	Regular
LOCATION
Headquarters :	7834 Hawn Freeway Dallas, TX 75217 United States
Comments:	NA
Branches:	P.O. BOX 1248,Chatsworth,Georgia,United States. It has manufacturing facilities in Dallas, Texas; Muskogee, Oklahoma; Gettysburg, Pennsylvania; El Paso, Texas; Lewisport, Kentucky; Fayette, Alabama; and Monterrey, Mexico. The company has distribution facilities in Eldersburg, Maryland; Boling Brook, Illinois; Sunnyvale, Texas; Ontario, California; and Canada.
Related Companies:	The company has a facility in Mexico.
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	Dal-Tile Corporation operates as a subsidiary of: Dal-Tile Group, Inc. 7834 Hawn Freeway Dallas, TX 75217 United States Ultimate Group: Mohawk Industries, Inc.
Management:	Mr. John C. Turner Jr. President Mr. Michael F. McGlothlin Chief Financial Officer Mr. David S. Baran Senior Vice President of Manufacturing Operations Mr. Javier Eugenio Martinez Serna President of Mexico Operations and General Director of Mexico Operations Mr. Gianni Mattioli Executive Vice President of Marketing and Research and Development
FINANCIAL INFORMATION
The company does not make its financial statements public. The following information was provided by private sources:
USD 2016
Revenue	2.5 Billion
Cash flow	Normal
LEGAL FILINGS
PATENTS	Hollow load-bearing universal kiln car refractory modules Patent number: 5112223 Abstract: The present invention relates to kiln car refractory furniture. In combination, (a) a kiln car having chassis that carries a platform; (b) a curb of a row of a plurality of hollow load-bearing refractory modules aligned along the periphery of the platform of the kiln car; and (c) an insulating amount of refractory insulation dispersed between the modules and laying over the platform of the kiln car. Each load-bearing hollow refractory module further comprises: (i) a hollow body formed of a refractory material having spaced walls and a top wall defining a hollow insulating space; (ii) at least one socket means for supporting a refractory post where the post in turn supports a load of refractory ware; (iii) a securing means for supporting the socket means spaced apart from the platform of the kiln car; and (iv) surfaces on the body adapted to interlock with surfaces on another abutting module. Type: Grant Filed: March 4, 1991 Date of Patent: May 12, 1992 Assignee: Dal-Tile Corporation Inventors: Warren R. Walle, Jack B. Ross, Jesse A. Hamilton, Delfin C. Martinez
GOVERNMENT CONTRACTS	No found
CASES	Wolfe v. Dal-Tile Corp., 876 F. Supp. 116 (S.D. Miss. 1995) US District Court for the Southern District of Mississippi - 876 F. Supp. 116 (S.D. Miss. 1995) February 6, 1995 Dal-tile Corporation, Plaintiff-appellee, v. United States, Defendant-appellant, 424 F.3d 1286 (Fed. Cir. 2005) Annotate this Case US Court of Appeals for the Federal Circuit - 424 F.3d 1286 (Fed. Cir. 2005) September 30, 2005 Venture Transport, Inc. v. Dal-Tile Mexico, S.A. de C.V. and Dal-Tile Corporation--Appeal from 111th Judicial District Court of Webb County Annotate this Case No. 04-01-00472-CV VENTURE TRANSPORT, INC., Appellant v. DAL-TILE MEXICO, S.A. DE C.V. and Dal-Tile Corporation, Appellees From the 111th Judicial District Court, Webb County, Texas Trial Court No. 99-CVF-00042-D2 Honorable Solomon Casseb, Jr., Judge Presiding (1) DAL-TILE V US, No. 04-1386 (Fed. Cir. 2005)
TRADEMARKS	Serial Number86526872 Registration Number4949128 Word MarkD Status700 - Registered Status Date: 2016-05-03 Filing Date: 2015-02-06 Registration Number: 4949128 Registration Date: 2016-05-03 Mark Drawing3000 - Illustration: Drawing or design which also includes word(s)/ letter(s)/number(s) Typeset Design Searches: 260921 - Squares that are completely or partially shaded. Published for Opposition Date: 2016-02-16 Attorney Name: Joe Foye Law Office Assigned Location Code: L20 Employee Name: COLEMAN, CIMMERIAN
RENEWAL HISTORY	No records found
UCC	Debtor DAL-TILE CORPORATION 7834 C.F. HAWN FREEWAY DALLAS TX 75217 CATERPILLAR FINANCIAL SERVICES CORPORATION Secured Parties 2120 WEST END AVE NASHVILLE TN 372030986 2017062301229 06/23/2017 06/23/2022 Initial DAL-TILE CORPORATION CATERPILLAR FINANCIAL SERVICES CORPORATION Dal-Tile Corporation Debtors P.O. BOX 1029 Chatsworth GA 30705 C & S Associates, Inc. as representative Secured Parties P.O. Box 24101 Cleveland OH 44124 Secured Parties Debtor/Secured Party Details DAL-TILE CORPORATION Debtors 7834 C.F. HAWN FREEWAY DALLAS TX 75217 CATERPILLAR FINANCIAL SERVICES CORPORATION Secured Parties 2120 WEST END AVE NASHVILLE TN 372030986
SUMMARY
Dal Tile Corporation is a large-sized organization in the miscellaneous manufacturers companies industry located in Sunnyvale, TX. Now has an estimated $2.5B in yearly revenue and 8 500 employees. The company imports from Saudi Arabia, with no export records found. It is active in TEXAS, with no negative records.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	Regular
CASH FLOW	Normal
STATUS	ACTIVE
INTERVIEW
NAME	Gerard
POSITION	Assistant
COMMENTS	He confirmed name, address, branches, group, ultimate group and estimated of employees.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.83
UK Pound	1	INR 86.28
Euro	1	INR 76.14
USD	1	INR 63.68

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	SYL

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)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.