MIRA INFORM REPORT

Report No. :	484686
Report Date :	13.01.2018

IDENTIFICATION DETAILS

Name :	OMNTEC MFG., INC.
Registered Office :	1993 Pond Road, Lake Ronkonkoma, New York, 11779
Country :	United States
Year of Establishment :	1976
Legal Form :	Corporation
Line of Business :	· Relay and Industrial Control Manufacturing · Other Electronic Parts and Equipment Merchant Wholesalers · Relays and Industrial Controls · Electronic Parts And Equipment, Nec
No. of Employees :	29

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 :	Satisfactory
Payment Behaviour :	No Complaints
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:	OMNTEC MFG., INC.
Trade Names:	OMNTEC MFG., INC.
ID:	691703
Date Created:	1976
Date Incorporated:	APRIL 09, 1981
Legal Address:	1993 POND ROAD LAKE RONKONKOMA, NEW YORK, 11779, USA
Operative Address:	1993 POND ROAD LAKE RONKONKOMA, NEW YORK, 11779, USA
Telephone:	1-631-981-2001
Fax:	1-631-981-2007
Legal Form:	CORPORATION
Email:	-
Registered in:	NEW YORK
Website:	www.omntec.com
Contact:	Lee Nicholson - President
Staff:	29
Activity:	NAICS 1: Relay and Industrial Control Manufacturing NAICS 2: Other Electronic Parts and Equipment Merchant Wholesalers SIC 1: Relays And Industrial Controls SIC 2: Electronic Parts And Equipment, Nec
Banks BANK OF AMERICA NORSTAR BANK OF LONG ISLAND FLEET NATIONAL BANK
History Omntec Mfg., Inc. was founded in 1976.
PRINCIPAL ACTIVITY
The company's line of business includes manufacturing relays and industrial controls.
Products/Services description:	The company offers Fuel Management Systems, Leak and Level Detection Consoles, Custom Pulp/Valve Controls, Pipeline Monitoring, Wireless Consoles, Wireless Level Probes And Sensors.
Brands:	OMNTEC
Sales are:	Wholesale
Clients:	Ekip De Colombia Limitada Insepet LTDA. Quar Constructora S.A. De C.V.
Suppliers:	Waaree MM Petro Tech Private Limited Waarev Sensors Pvt., Ltd.
Operations area:	National and International
The company imports from	INDIA
The company exports to	COLOMBIA MEXICO
The subject employs	29 EMPLOYEES
Payments:	No Complaints
LOCATION
Headquarters :	1993 POND ROAD LAKE RONKONKOMA, NEW YORK, 11779, USA
Comments on Address:	-
Branches:	No other branches were found.
Related Companies:	No related companies were found.
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	This is a private company. We were not able to confirm major holders.
Management:	Lee Nicholson - President Tom Dalessandro - Executive Vice President Tara Longobardi - Government Affairs Manager
FINANCIAL INFORMATION
The company does not make its financial statements public. The following information has been provided by private sources:
USD 2016
Revenue	3.000.000
Cash flow	Normal
LEGAL FILINGS
PATENTS	Universal Remote Display System Publication number: 20140125496 Abstract: A tank monitoring interface connects to many known automatic tank gauging systems. The interface deciphers serial data from existing tank monitoring controllers through a serial port on that tank monitoring controller. This serial data is extracted from the tank monitoring controller by serial commands issued by the interface. The tank monitoring controller response indicates the type of tank monitoring controller protocol that is connected to the interface, thus allowing the interface to display that particular tank monitoring controller's information on a graphics touch screen interface. The interface also interrogates the tank monitoring controller for pertinent alarm information allowing the ability to aurally and visually alert the user. Type: Application Filed: April 10, 2013 Publication date: May 8, 2014 Applicant: Omntec Mfg. Inc. Inventor: Omntec Mfg. Inc.
GOVERNMENT CONTRACTS	Government Contractor: OMNTEC MFG., INC. Name & Address:1993 POND RD RONKONKOMA, NY 11779-7259 Number of Defense Contracts Awarded: 65 Dollar Amount of Defense Contracts Awarded: $594,695
CASES	No found.
TRADEMARKS	FUELCHECK fiberoptic pipeline interface detection system, comprised of a fiberoptic sensor or probe and an electric controller and… Owned by: OMNTEC MFG, INC Serial Number: 75458713 FILLCHECK wireless radio transmitter switch that protects against over-fill of storage tanks Owned by: OMNTEC MFG, INC Serial Number: 75459461
RENEWAL HISTORY	Filing Date Name Type Entity Name JUL 09, 1998 Actual OMNTEC MFG., INC. SEP 13, 1991 Actual OMNTEC ELECTRO-LEVELS MANUFACTURING, INC. APR 09, 1981 Actual OMNTEC MFG., INC.
UCC	Debtor Names: OMNTEC MFG INC Not Available OMNTEC MFG., INC. 1993 POND RD., RONKONKOMA, NY 11779-0000, USA Secured Party Names: NORSTAR BANK OF LONG ISLAND Not Available FLEET BANK, NA 10 EXCHANGE PLACE CT/BP/F91T, JERSEY CITY, NJ 07302-0000, USA FLEET NATIONAL BANK 1185 AVENUE OF THE AMERICAS, NEW YORK, NY 10032, USA File no. File Date Lapse Date Filing Type Pages 053112 03/16/1990 03/16/1995 Financing Statement 224089 11/02/1994 03/16/2000 Continuation 240451 11/29/1999 03/16/2000 Assignment 240453 11/29/1999 03/16/2005 Continuation 200410085847842 10/08/2004 03/16/2005 Financing Statement Amendment 200410125851357 10/12/2004 03/16/2010 Continuation 200909295872327 09/29/2009 03/16/2015 Continuation 201409236011121 09/23/2014 03/16/2020 Continuation
OFAC Sanctions List Search	The company is not listed in the OFAC list.
SUMMARY
Founded in 1976, Omntec Mfg., Inc. is a mid-sized organization in the relay and industrial controls manufacturers industry located in Ronkonkoma, NY. It has 29 full time employees and generates an estimated $3 million in annual revenue. The company operates nationally and internationally, mainly importing from India. It is ACTIVE in business with no negative records.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	No Complaints
CASH FLOW	Normal
STATUS	Active
INTERVIEW
NAME	Doreen
POSITION	Receptionist
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

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 :	VIV
Report Prepared by :	NIT

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.