|
|
|
MIRA INFORM REPORT
|
Report No. : |
486429 |
|
Report Date : |
18.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
CG MACHINERY, LLC |
|
|
|
|
Registered Office : |
40 North Main St., Suite
1700 Dayton ,OH 45423, USA |
|
|
|
|
Country : |
United States |
|
|
|
|
Date of Incorporation : |
1983 |
|
|
|
|
Legal Form : |
Domestic Limited Liability Company |
|
|
|
|
Line of Business : |
Subject distributes machine tools. It offers CNC vertical
and horizontal machining centers, CNC lathes, rotary tables, mini mills,
super mini mills, trunnion tables, and indexers. |
|
|
|
|
No. of Employees : |
40 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd 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
|
Order: |
Haas
Factory Outlet *See
comments on Key Develoments History |
|
Address in the order: |
U S A Branch
of Phillips Machine Tools India Pvt Ltd 7390 Coca Cola Drive, Hanover MD
21076 United
States |
|
Legal Name: |
CG MACHINERY, LLC |
|
Trade Name: |
HAAS FACTORY OUTLET |
|
ID: |
3960225 |
|
Date Created: |
1983 |
|
Date Incorporated: |
11/15/2016 |
|
Legal Address: |
40 North Main St.,
Suite 1700 Dayton ,OH 45423 USA |
|
Operative Address: |
580 Madrid Ave Torrance,
California 90501-6231 United States |
|
Telephone: |
(310) 381-0750 |
|
Fax: |
(310) 381-0744 |
|
Legal Form: |
Domestic Limited Liability Company |
|
Email: |
Jay Phillips, Sales
President: james.phillips@haasfactoryoutlet.com |
|
Registered in: |
OHIO |
|
Website: |
www.haasfactoryoutlet.com |
|
Contact: |
Haresh Shah,
Vice-President Mark Todd, Director
of Finance Peter G. Haley,
Manager |
|
Staff: |
40 |
|
Activity: |
NAICS 1: Industrial
Machinery and Equipment Merchant Wholesalers SIC 1: Machine
Tools And Accessories |
|
|
|
|
BANKS: |
The company does not make its banking
data public |
|
|
|
HISTORY
|
|
|
The company was founded in 1983 |
|
|
Key Developments: |
The company HAAS
FACTORY OUTLET, LLC, ID No. 199735210087, incorporated in CALIFORNIA, USA, in
12/18/1997 was converted out into CG MACHINERY, LLC in November, 7th,
2016. CG MACHINERY, LLC was
incorporated in November 15th, 2016 in OHIO, USA. |
|
|
|
PRINCIPAL ACTIVITY
|
|
|
Haas Factory Outlet is a mid-sized
organization in the industrial machinery and equipment companies industry
located in Torrance, CA. |
|
|
Products/Services description: |
Haas Factory Outlet
distributes machine tools. It offers CNC vertical and horizontal machining
centers, CNC lathes, rotary tables, mini mills, super mini mills, trunnion
tables, and indexers. PRODUCTS: Vertical Mills Horizontal Mills Lathes Rotaries &
Indexers Haas Bar Feeder SERVICES: Part Orders Rotary Repair Application Support Service Request Preventative
Maintenance |
|
Brands: |
NA |
|
Sales are: |
Wholesale and Retail |
|
Clients: |
Haas Automation
Inc. USA Grocery Outlet USA Sanoh Industiral De Mexico S.A Mexico Technologia En Equipos Y Maquinaria Mexico Shreeraj Industries India Sanika Technologies India |
|
Suppliers: |
Phillips Machine
Tools India Pvt India |
|
Operations area: |
National and International |
|
The company imports from |
India |
|
The company exports to |
Mexico and India |
|
The subject employs |
40 employees |
|
Payments: |
Regular |
|
|
|
LOCATION
|
|
|
Headquarters : |
580 Madrid Ave Torrance, California 90501-6231 United States |
|
Comments: |
NA |
|
Branches: |
The company has
many branches in the USA, such as: 913 S Us Highway
301 Tampa, Florida USA 3315 Intertech Dr Brookfield,
Wisconsin USA 549a Keystone Dr Warrendale, Pennsylvania USA 1720 N Juniper Ave Broken Arrow,
Oklahoma USA 443 W Pennwood St Meridian, Idaho USA 3676 W California
Ave A117 Salt Lake City,
Utah USA 501 Richardson St Simpsonville, South
Carolina USA 375 Commercial Dr Buda, Texas USA |
|
Related Companies: |
Haas Automation, Inc 2800 Sturgis Road Oxnard, CA 93030 United States Haas Factory Outlet Sul Comércio de
Máquinas e Serviços Ltda Avenida Guido Caloi, 1985, An 1 Cj 17,
Jardim São Luís, São Paulo, SP, 05802-140 Brazil Gosiger, Inc. 108 Mcdonough St Dayton, OH USA |
|
Main Competitors: |
Ana Trading Corp., U.S.A. 3625 Del Amo Blvd Ste 300 Luzan & Co Inc 23717 Hawthorne Blvd # 105 Advanced Machinery Equipment, Inc 1208 Valle Ct Westrand Chemicals Inc. 2217 Border Ave Regal Industrial Equipment 22543 Susana Ave |
|
|
|
GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
|
|
|
Listed at the stock exchange: |
NO |
|
Capital: |
NA |
|
Shareholders: |
This is a private company. It is operates as a division of: Phillips Machine Tools India Pvt Hanover, MD 7390 Coca Cola Drive Hanover, MD 21076 India Formerly known as CNC Servicing &
Solutions (I) Pvt. Ltd. |
|
Management: |
Haresh Shah, Vice-President Mark Todd, Director of Finance Marianne Frei, Financial Director Gary Blazosky, Service Manager Jim McGregor, Position In Sales Sean Shinder, Service Manager Peter G. Haley, Manager Accounting Jean Sumruld, Accounting Administration.
(310) 381-0750 Jean.Sumruld@haasfactoryoutlet.com Carol Burbach, Accountant. (888)
684-4227 X 13130 Carol.Burbach@haasfactoryoutlet.com Applications Richard Lestak, Applications Engineer.
(310) 381-0750 X 17527 Richard.Lestak@haasfactoryoutlet.com John Quach, Applications Engineer (310)
381-0750 X 17548 John.Quach@haasfactoryoutlet.com Parts Michael Finney, Parts Manager (310)
381-0750 X 17520
Michael.Finney@haasfactoryoutlet.com Eddy De Leon, Parts Planner (310)
381-0750 X 17519 Ed.DeLeon@haasfactoryoutlet.com Victor Enriquez-Cruz, Parts Planner (310)
381-0750 Victor.Cruz@haasfactoryoutlet.com Edgar Garcia, Parts Planner (310)
381-0750 X 17532 Edgar.Garcia@haasfactoryoutlet.com Rotary Repair Juan Pelayo, Rotary Repair Technician
(310) 381-0750 X 17528 Juan.Pelayo@haasfactoryoutlet.com Sales Jay Phillips, President (310) 381-0750 James.Phillips@haasfactoryoutlet.com Glenn Cheshire, Sales Engineer (626) 862-1663 Glenn.Cheshire@haasfactoryoutlet.com Damion Goodrich, Sales Engineer (310)
508-3296
Damion.Goodrich@haasfactoryoutlet.com Michael Steinbock, Sales Engineer (661)
406-2602
Michael.Steinbock@haasfactoryoutlet.com Jordan Whitfield, Sales Engineer (818)
970-1206
Jordan.Whitfield@haasfactoryoutlet.com |
FINANCIAL
INFORMATION
|
|
|
The company does not make its financial statements public.
The following information has been provided by private sources: |
|
|
|
|
|
USD 2016 |
|
|
Revenue |
5,000,000 |
|
Cash flow |
Normal |
|
|
|
LEGAL
FILINGS
|
|
|
|
|
|
Cases |
No found |
|
|
|
|
Renewal History |
Filing Type: CONVERSION-DOMESTIC PROFIT
LIMITED LIABILITY CO Date of Filing: 11/15/2016 Document Number/Image: 201632202518 The company HAAS FACTORY OUTLET, LLC, ID
No. 199735210087, incorporated in CALIFORNIA, USA, in 12/18/1997 was
converted out into CG MACHINERY, LLC in November, 7th, 2016. CG MACHINERY,
LLC was incorporated in November 15th, 2016 in OHIO, USA. |
|
|
|
|
UCC |
No records found |
|
|
|
|
OFAC Sanctions List
Search |
The company is not
listed in the OFAC list. |
SUMMARY
|
|
|
Founded
in 1983, Haas Factory Outlet is a mid-sized organization in the industrial
machinery and equipment companies industry located in Torrance, CA. The
company has 40 full-time employees and generates an estimated USD 5 million
in annual revenue. It is a
division of Phillips Machine Tools India Pvt (India). The
company imports from India, and exports to Mexico and India, operating within
national and international markets. This
has been an ACTIVE company incorporated in OHIO in 2006. |
|
RISK
INFORMATION
|
|
|
|
|
|
DEBTS |
Controlled |
|
PAYMENTS |
Regular |
|
CASH FLOW |
Normal |
|
STATUS |
ACTIVE |
|
|
|
INTERVIEW
|
|
|
NAME |
Mary |
|
POSITION |
Operator |
|
COMMENTS |
She confirmed name, address, website, telephone, fax,
email and principal activity. She also confirmed operations area. She confirmed that the company has many branches
within the USA. She could not confirm legal information given that
she explained she had been recently employed there. She transferred the call
to a person named Carol but the person contacted was not available to confirm
further information about the company. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.97 |
|
|
1 |
INR 88.13 |
|
Euro |
1 |
INR 78.35 |
|
US Dollar |
1 |
INR 63.81 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
TPT |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.