MIRA INFORM REPORT

Report No. :	485470
Report Date :	13.01.2018

IDENTIFICATION DETAILS

Name :	MICRONICS, INC.
Registered Office :	251 Little Falls Drive, Wlimington, New Castel, De, 19808
Country :	United States
Date of Incorporation :	1983
Legal Form :	Corporation
Line of Business :	Manufactures and sells custom filtration products and equipment.
No. of Employees :	330

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	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List

Country Name	Previous Rating (30.06.2017)	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
Legal Name:	MICRONICS, INC.
Trade Names:	MICRONICS ENGINEERED FILTRATION GROUP
ID:	2585435
Date Created:	1983
Date Incorporated:	1/24/1996
Legal Address:	251 LITTLE FALLS DRIVE, WLIMINGTON, NEW CASTEL, DE, 19808, USA
Operative Address:	200 West Road Portsmouth, NH 03801 United States
Telephone:	(866) 481-3694 603-433-1299
Fax:	603-433-6673
Legal Form:	CORPORATION
Email:	info@micronicsinc.com
Registered in:	DELAWARE
Website:	www.micronicsinc.com
Contact:	Bernard C. Faulkner – Chief Executive Officer and President
Staff:	330
Activity:	NAICS 1: Industrial Supplies Merchant Wholesalers NAICS 2: All Other Miscellaneous General Purpose Machinery Manufacturing SIC 1: Industrial Supplies SIC 2: Filters, General Line: Industrial
Banks:	BANK OF AMERICA
History:	The company was founded in 1983 by Barry Hibble.
PRINCIPAL ACTIVITY
	Micronics, Inc. manufactures and sells custom filtration products and equipment.
Products/Services description:	The company offers woven and felted synthetic filter cloths, including monofilament, multifilament, combination yarns, needle felts with various surface finishes, and spun woven constructions; recessed filter plates, membrane filter plates, vacuum membrane filter plates, and plates and frames; automatic mining, medium/high capacity, special, vacuum, small to medium capacity, and other filter presses; and filter press accessories and replacement/refurbished filter parts for liquid solid separation applications. It also offers used filter presses; filtration and installation services; and filter press maintenance services. It serves alumina, battery waste, breweries, cider, coal preparation, cocoa butter, completion fluid, copper, dairy, edible oils, electro plating, fertilizer, fruit juices, gold, hard candies, iron/lead, metal hydroxide, mining/minerals, nuclear fuels, paint waste, paper, pharmaceuticals, pickling waste, pigments/dyes, potable water treatment, potteries, refineries, remediation, steel plants, beet and cane sugar, tanneries, uranium, waste water treatment, wineries, and zinc industries through distributors worldwide.
Brands:	MICRONICS
Sales are:	Wholesale
Clients:	Dupont Mexico S.A. De C.V. Minera Chinalco Peru Sa
Suppliers:	Micronic Mfg Filztuchfabrik Rodewisch Gmbh Jvk Filtration Systems Gmbh
Operations area:	National and International
The company imports from	NETHERLANDS GERMANY
The company exports to	MEXICO PERU
The subject employs	330 employees
Payments:	Regular
LOCATION
Headquarters :	200 West Road Portsmouth, NH 03801 United States
Comments on Address:	This business is located at 200 West Rd, a commercial address in Portsmouth, NH. The shopping center has an estimated value of $1.86 million USD, which is slightly above average for shopping centers in the area. At 29,578 square feet, the building is slightly larger than most shopping centers according to our database. The average building has around 11,200 square feet.
Branches:	Micronics, Inc. (Branch Location) 119 Broadway Dover, New Hampshire 03820-3217 United States
Related Companies:	Micronics Filtration Ltd. Sandbach Road Burslem, Stoke-On-Trent ST6 2DR, United Kingdom Micronics Engineered Filtration S. de R.L. de C.V. Batalla de la Angostura Nave 7 Segundo Pisa. Parque Industrial La Angostura, Parajes Sta. Elena Saltillo, Coahuila Mexico CP 25315
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	This is a private company. The major holder is: Barry Hibble
Management:	Bernard C. Faulkner – Chief Executive Officer and President Julie Pugh - Chief Financial Officer Carol Gaedtke – Office Manager
FINANCIAL INFORMATION
	The company does not make its financial statements public. The following information has been provided by private sources:
USD 2016
Revenue	15.000.000
Cash flow	Normal
LEGAL FILINGS
PATENTS	MICROFLUIDIC APPARATUS AND METHODS FOR PERFORMING BLOOD TYPING AND CROSSMATCHING Publication number: 20130142708 Abstract: Microfluidic cartridges for agglutination reactions are provided. The cartridges include a microfluidic reaction channel with at least two intake channels, one for an antigen-containing fluid and the other for an antibody-containing fluid, conjoined to a reaction channel modified by incorporation of a downstream flow control channel. At low Reynolds Number, the two input streams layer one on top of the other in the reaction channel and form a flowing, unmixed horizontally-stratified laminar fluid diffusion (HLFD) interface for an extended duration of reaction. Surprisingly, the design, surface properties, and flow regime of microfluidic circuits of the present invention potentiate detection of antibody mediated agglutination at the stratified interface. Antigen:antibody reactions involving agglutination potentiated by these devices are useful in blood typing, in crossmatching for blood transfusion, and in immunodiagnostic agglutination assays, for example. Type: Application Filed: October 25, 2012 Publication date: June 6, 2013 Applicant: MICRONICS, INC. Inventor: Micronics, Inc. ELECTROMAGNETICALLY ACTUATED VALVES FOR USE IN MICROFLUIDIC STRUCTURES Publication number: 20070178529 Abstract: Disclosed are micron-sized, electromagnetically actuated tongue valves, which find application in microfluidic devices and apparatuses. The present invention further relates to methods for manipulating fluid flow in a microfluidic assay system and for sorting and capturing target particles in fluid suspensions. Type: Application Filed: January 12, 2007 Publication date: August 2, 2007 Applicant: MICRONICS, INC. Inventors: Wayne Breidford, C. Battrell SYSTEM AND METHOD FOR DIAGNOSIS OF INFECTIOUS DISEASES Publication number: 20090061450 Abstract: A biosafe apparatus is disclosed for assay and diagnosis of respiratory pathogens comprising a nasal sampling device, a single entry, disposable microfluidic cartridge for target nucleic acid amplification, and an instrument with on-board assay control platform and target detection means. Type: Application Filed: September 3, 2008 Publication date: March 5, 2009 Applicant: MICRONICS, INC. Inventor: William Samuel Hunter
GOVERNMENT CONTRACTS	Government Contractor: MICRONICS, INC. Name & Address: 8463 154TH AVE NE REDMOND, WA 98052-3863 Number of Defense Contracts Awarded : 8 Dollar Amount of Defense Contracts Awarded: $367,654
CASES	No found.
TRADEMARKS	H-FILTER SCIENTIFIC APPARATUS, NAMELY MICROFLUIDIC DEVICES FOR USE IN MEDICAL DIAGNOSTIC APPLICATIONS, NAMELY, DEVICES FOR THE SEPARATION… Owned by: Micronics, Inc. Serial Number: 75724810 MICRONICS Devices for use in medical diagnostic applications, namely, devices capable of performing analytical functions such as sampling… Owned by: Micronics, Inc. Serial Number: 75724811 T-SENSOR Scientific apparatus, namely, microfluidic devices for use in detection of analytes, namely, devices for the separation… Owned by: Micronics, Inc. Serial Number: 75724812 MICROCYTOMETER Laboratory devices, namely, microfluidic devices for the characterization of cells and particles Owned by: Micronics, Inc. Serial Number: 75724813 MICROLAB SCIENTIFIC APPARATUS, NAMELY, DEVICES FOR USE IN MEDICAL DIAGNOSTIC APPLICATIONS, NAMELY CARTRIDGES CAPABLE OF PERFORMING… Owned by: Micronics, Inc. Serial Number: 75724814
RENEWAL HISTORY	No records found.
UCC	No records found.
OFAC Sanctions List Search	The company is not listed in the OFAC list.
SUMMARY
	Founded in 1983, Micronics, Inc. is a mid-sized organization in the industrial supplies industry located in Portsmouth, NH. It has 330 full time employees and generates an estimated $15.9 million in annual revenue. The company operates nationally and internationally, mainly importing from the Netherlands and Germany. It is ACTIVE in business with no negative records.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	Regular
CASH FLOW	Normal
STATUS	Active
INTERVIEW
NAME	Claire
POSITION	Operator
COMMENTS	She confirmed the name of the company, the address of the headquarters and location, the date of creation of the company, the number of employees and the name of the Chief Executive Officer.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.53
UK Pound	1	INR 86.05
Euro	1	INR 76.53
USD	1	INR 63.61

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

INFORMATION DETAILS

Analysis Done by :	NIY
Report Prepared by :	KET

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.