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MIRA INFORM REPORT
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Report No. : |
486090 |
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Report Date : |
16.01.2018 |
IDENTIFICATION DETAILS
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Name : |
DRAPER, INC. |
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Registered Office : |
411 S Pearl, Spiceland, In, 47385 - 0000, USA |
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Country : |
United States |
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Date of Incorporation : |
1902 |
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Legal Form : |
Corporation |
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Line of Business : |
Manufactures and Markets Window Shades and Coverings, Gymnasium Equipment,
and Projection Screens. |
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No. of Employees : |
530 |
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+ |
Low Risk |
Business dealings permissible with low
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: |
DRAPER, INC. |
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Trade Names: |
DRAPER, INC. |
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ID: |
198105-011 |
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Date Created: |
1902 |
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Date Incorporated: |
05/01/1981 |
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Legal Address: |
411 S Pearl, Spiceland, In, 47385 - 0000, USA |
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Operative Address: |
411 S Pearl, Spiceland, In, 47385, USA |
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Telephone: |
765-987-7999 |
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Fax: |
765-987-7142 |
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Legal Form: |
Corporation |
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Email: |
nlamar@draperinc.com |
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Registered in: |
INDIANA |
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Website: |
hwww.draperinc.com |
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Contact: |
Mr. John Pidgeon - President |
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Staff: |
530 |
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Activity: |
NAICS 1: Photographic and Photocopying Equipment Manufacturing NAICS 2: Blind and Shade Manufacturing NAICS 3: Audio and Video Equipment Manufacturing SIC 1: Photographic Equipment And Supplies SIC 2: Drapery Hardware And Window Blinds And Shades SIC 3: Household Audio And Video Equipment |
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Banks: |
BANK OF AMERICA |
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History: |
The company was founded by Luther O. Draper in 1902 to manufacture
window shades for schools, and that was Draper's primary product for the next
60 years. In 1918 Mr. Draper was joined by his son-in-law, Elmer Pidgeon. Mr.
Draper later became a state politician and Elmer Pidgeon assumed management
of the company in 1938. Elmer Pidgeon's son, Luther, joined the firm in 1940 and became its
President in 1960. He continued in that capacity until his death in July
2004. In 1957 Luther Pidgeon secured a patent on an inexpensive classroom
projection screen, marking Draper's entry into the screen business. In 1989 Draper introduced FlexShade Systems, a second line of window
shades designed for the commercial market. In 1994 Draper entered the
gymnasium equipment market. The company is owned and managed by the descendants of Luther O.
Draper. Draper products are shipped to dealers throughout the United States
and more than 100 foreign countries. |
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PRINCIPAL
ACTIVITY
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Draper, Inc. manufactures and markets window shades and coverings,
gymnasium equipment, and projection screens. |
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Products/Services description: |
Its projection screens include projection display systems, video
projector mounts and lifts, plasma display mounts and lifts, and presentation
easels; and gymnasium equipment include basketball backstops, gym dividers,
wall pads, volleyball equipment, batting cages, and wrestling mat hoists. The
company offers window shades primarily for commercial, educational,
residential, and architectural markets. It offers products through dealers in
the United States and internationally. |
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Brands: |
DRAPER |
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Sales are: |
Wholesale |
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Clients: |
Avi Rental Services De Mexicos De Rl De Cv Nolasco Audio Y Video Sa HI-FI Group S. de RL Centro De Audio Video Y Comunicaciones Sa De Cv M Y D Asesores Sa De Cv Construcciones Acusticas Ltda Progility Technologies Private Limited. |
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Suppliers: |
Xiamen Xys Industry Trading Co. Ltd Harda (Xiamen) Plastic Co., Ltd. Shenzhen Bestech Co., Ltd Perfect Commerce Qingdao Co., Ltd. |
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Operations area: |
National and International |
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The company imports from |
CHINA |
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The company exports to |
MEXICO COLOMBIA INDIA |
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The subject employs |
530 employees |
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Payments: |
Regular |
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LOCATION
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Headquarters : |
411 S PEARL, SPICELAND, IN, 47385, USA |
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Comments on Address: |
- |
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Branches: |
CALIFORNIA OFFICE 151 North Kraemer Blvd. Suite 101 Placentia CA. 92870 |
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Related Companies: |
Draper has three wholly owned subsidiaries DRAPER GROUP LIMITED 7 Earlstrees Court Earlstrees Industrial Estate Corby NN17 4AX, Northamptonshire United Kingdom DRAPER EUROPE AB Kristinebergsvägen 22 SE-302 41 Halmstad Sweden SMS Smart Media Solutions AB Hästholmsvägen 32, 131 30 Nacka, Sweden |
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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 is owned and managed by the descendants of Luther O.
Draper. |
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Management: |
Mr. John Pidgeon - President Mr. Gary Knowles - Chief Financial Officer Mr. Mike Broome - Vice President of Manufacturing Ms. Debbie Stewart - Manager of Accounts Receivable Mr. Jentry Wittkamper CTS - Manager of Video Projector Lifts &
Mounts Nate LaMar - International Regional Sales Manager |
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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 / Estimated |
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Net Revenue |
26 000 000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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PATENTS |
TENSIONED PROJECTION SCREEN APPARATUS Publication number: 20130141783 Abstract: A projection screen apparatus is disclosed for displaying an
image projected by a projector. The projection screen apparatus includes a
frame and a screen. The frame includes a plurality of frame members and
corner members. Type: Application Filed: January 11, 2013 Publication date: June 6, 2013 Applicant: Draper, Inc. Inventor: Draper, Inc. |
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GOVERNMENT CONTRACTS |
Government Contractor: DRAPER, INC. Name & Address: 411 S PEARL ST SPICELAND, IN 47385-0000 Number of Defense Contracts Awarded: 2 Dollar Amount of Defense Contracts Awarded:$0 |
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CASES |
No found. |
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TRADEMARKS |
ACCUSCREENS Projection screens Owned by: Draper, Inc. Serial Number: 77038265 DRAPER Projection screens Owned by: Draper, Inc. Serial Number: 77082837 DRAPER window shades Owned by: Draper, Inc. Serial Number: 77082845 DRAPER Curtains for use in dividing gymnasiums into multiple-play areas Owned by: Draper, Inc. Serial Number: 77082851 DRAPER Gym equipment, namely, multi-sport practice cages, climbing ropes,
stall bars and chinning bars, climbing ladders; volleyball… Owned by: Draper, Inc. Serial Number: 77082857 |
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RENEWAL HISTORY |
Filing Date Effective Date Filing Number Filing Type 08/03/2005 08/03/2005 0000691747 Business Entity Report 11/22/2006 11/22/2006 0000691748 Certificate of Assumed Business Name 05/18/2007 05/18/2007 0000691749 Business Entity Report 03/17/2009 03/17/2009 0000691750 Business Entity Report 03/10/2011 03/10/2011 0000691751 Business Entity Report 03/27/2013 03/27/2013 0000691752 Business Entity Report 08/11/2014 08/11/2014 0000691753 Articles of Amendment 03/25/2015 03/25/2015 0000691754 Business Entity Report 03/21/2017 03/21/2017 0007551607 Business Entity Report |
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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 1902, Draper, Inc. is a large-sized organization in the
photographic equipment and supplies manufacturers industry located in
Spiceland, IN. It has 530 full time employees and generates an estimated $26 million
in annual net revenue. The company operates nationally and internationally, mainly importing
from China. 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 |
Christopher |
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POSITION |
Sales |
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COMMENTS |
He 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. He also confirmed the company`s clients and its
annual revenue. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.41 |
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1 |
INR 87.17 |
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Euro |
1 |
INR 77.45 |
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US Dollar |
1 |
INR 64.08 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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.