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MIRA INFORM REPORT
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Report No. : |
486868 |
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Report Date : |
19.01.2018 |
IDENTIFICATION DETAILS
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Name : |
AEROFLEX WICHITA, INC. |
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Registered Office : |
251 Little Falls Drive, Wilmington, New Castle, De, 19808 |
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Country : |
United States |
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Date of Incorporation : |
12.10.1985 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject is designs and manufactures advanced test
solutions for communications, avionics and general test and measurement
applications. |
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No. of Employees : |
500 |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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: |
AEROFLEX WICHITA, INC. |
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Trade
Names: |
AEROFLEX WICHITA, INC. |
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ID: |
2077863 |
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Date Created: |
1985 |
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Date Incorporated: |
12/10/1985 |
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Legal Address: |
251 LITTLE FALLS DRIVE, WILMINGTON, NEW
CASTLE, DE, 19808, USA |
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Operative Address: |
10200 West York Street Wichita, KS 67215 United States |
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Telephone: |
316-522-4981 |
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Fax: |
316-524-2623 |
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Legal Form: |
CORPORATION |
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Email: |
NA |
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Registered in: |
DELAWARE |
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Website: |
www.aeroflex.com |
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Contact: |
Mr. Leonard Borow - Chief Executive
Officer, President and Director |
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Staff: |
500 |
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Activity: |
NAICS 1: Other Support Activities for
Air Transportation SIC 1: Aircraft Servicing And Repairing |
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Banks: |
BANK OF AMERICA |
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History: |
The company was incorporated in 1985 and
is based in Wichita, Kansas. It was formerly known as IFR Systems, Inc. and
changed its name in January, 2004. |
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Parent Company: |
As of June, 2002, Aeroflex Wichita, Inc.
operates as a subsidiary of: Aeroflex Inc. 35 South Service Road PO Box 6022 Plainview, NY 11803-0622 United States |
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PRINCIPAL
ACTIVITY
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Aeroflex Wichita, Inc. designs and manufactures
advanced test solutions for communications, avionics and general test and
measurement applications. |
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Products/Services description: |
Communications equipment products are
designed to test mobile radio products. Test and measurement products are
used to test digital and analog communication systems, laboratory and field
measurement of electromagnetic signals, radio frequency test equipment for
the aviation industry, and automated test equipment. Avionics instruments
include precision simulators, which duplicate airborne conditions to test the
communications, weather radar, and instrument landing and navigational
systems installed in aircraft and ground stations. The company also sells
software computer solutions used in connection with certain of its test
equipment products. |
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Brands: |
AEROFLEX |
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Sales are: |
Wholesale |
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Clients: |
Servicios Aereos Noticiosos Sa De Cv Eurocopter De Mexico S.A. De C.V. Transpais Aereo Sa De Cv Mexicana Mro, S.A. De C.V Heliservicio Sa De Cv Aerovias De Mexico S.A. De C.V. Provetecnia Sa De Cv Suministros Industriales De Colombia
Sociedad Por Acciones S Electronica De Aviacion S A S Telecuatro Guayaquil Ca. |
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Suppliers: |
Hindustan Aeronautics Ltd |
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Operations area: |
National and International |
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The company imports from |
INDIA |
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The company exports to |
MEXICO COLOMBIA ECUADOR |
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The subject employs |
500 employees |
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Payments: |
Regular |
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LOCATION
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Headquarters : |
10200 West York Street Wichita, KS 67215 United States |
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Comments on Address: |
This business is located at 10200 W York
St, a commercial address in Wichita, KS. The tech industry property has an
estimated value of $720,673 USD, which is 78% below the $3,227,589 United States
dollars average for tech industry properties nearby. |
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Branches: |
Aeroflex Wichita Inc. (Branch Location) 14408 W 105th St Lenexa, Kansas 66215-2316 United States Aeroflex Wichita Inc. (Branch Location) 12357 Riata Trace Pkwy Austin, Texas 78727-7171 United States |
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Related Companies: |
Cobham Corporate Brook Road Wimborne Dorset BH21 2BJ England Cobham Corporate North America 2121 Crystal Drive, Suite 625 Arlington, VA 22202, USA |
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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: |
As of June, 2002, Aeroflex Wichita, Inc.
operates as a subsidiary of: Aeroflex Inc. 35 South Service Road PO Box 6022 Plainview, NY 11803-0622 United States |
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Management: |
Mr. Leonard Borow - Chief Executive
Officer, President and Director Mr. John Adamovich Jr. - Chief Financial
Officer, Principal Accounting Officer, Senior Vice President and Secretary Mr. John E. Buyko - Executive Vice
President, President of Aeroflex Microelectronic SolutionsDivision and
Director Mr. Alfred H. Hunt III - Chief
Technology Officer Mr. Charles T. Badlato - Vice President
and Treasurer |
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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 |
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Revenue |
90.000.000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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PATENTS |
Interrogator/transponder test set Patent number: D613191 Type: Grant Filed: June 18, 2009 Date of Patent: April 6, 2010 Assignee: Aeroflex Wichita, Inc. Inventors: Rock A. Crawford, Shawn C.
Perkins |
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GOVERNMENT CONTRACTS |
Government Contractor: AEROFLEX WICHITA,
INC. Name & Address: 10200 W YORK ST WICHITA, KS 67215-8935 Number of Defense Contracts Awarded :1347 Dollar Amount of Defense Contracts
Awarded: $232,429,501 Government Contractor: AEROFLEX WICHITA,
INC. Name & Address: 14408 W 105TH ST LENEXA, KS 66215-2316 Number of Defense Contracts Awarded :11 Dollar Amount of Defense Contracts
Awarded:$247,382 |
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CASES |
Navair, Inc. v. IFR Americas, Inc., et al Plaintiff - Appellant: NAVAIR, INC. Defendant - Appellee: IFR AMERICAS,
INC., IFR SYSTEMS, INC. and AEROFLEX, INC. Case Number: 07-3008 Filed: January 10, 2007 Court: U.S. Court of Appeals, Tenth
Circuit Nature of Suit: Other Contract Actions |
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TRADEMARKS |
DATATRAC instruments for recording, testing,
tracking and analyzing information in the avionics industry, namely databus
analyzers… Owned by: AEROFLEX WICHITA, INC. Serial Number: 74506535 FAST BIT Broadband communication test equipment,
namely, [ bit error rate testers, modulators, upconverters and carrier to
noise… Owned by: AEROFLEX WICHITA, INC. Serial Number: 75653643 AVIONICS TEST STUDIO computer software for generating and
testing avionics navigation and communication signals Owned by: AEROFLEX WICHITA, INC. Serial Number: 85215620 SIGNAL SAFARI Computer software used to simulate
control of testing equipment in the field of testing and development of
wireless communications… Owned by: AEROFLEX WICHITA, INC. Serial Number: 77967650 |
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RENEWAL HISTORY |
No found. |
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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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Aeroflex Wichita, Inc. is a large-sized organization
in the airports and flying field service companies industry located in
Wichita, KS. It opened its doors in 1985 and now has
an estimated $90 million in yearly
revenue and 500 employees. The company operates nationally and
internationally, mainly importing from Indi. 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 |
Steve |
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POSITION |
Operator |
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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 Chief Executive Officer. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.84 |
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1 |
INR 88.28 |
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Euro |
1 |
INR 77.88 |
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US Dollar |
1 |
INR 63.86 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VIV |
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Report Prepared
by : |
TRU |
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.