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MIRA INFORM REPORT
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Report No. : |
487232 |
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Report Date : |
22.01.2018 |
IDENTIFICATION DETAILS
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Name : |
THE SPANCRETE GROUP, INC. |
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Registered Office : |
N16w23415 Stoneridge Dr Waukesha, WI 53187-0828 |
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Country : |
United States |
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Year of Establishment : |
1946 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject designs, manufactures, and markets of precast products for the
construction industry. |
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No. of Employees : |
430 |
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 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: |
THE SPANCRETE GROUP, INC. |
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Trade Names: |
THE SPANCRETE GROUP, INC. |
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ID: |
S056515 |
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Date Created: |
1946 |
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Date Incorporated: |
March 27, 2000 |
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Legal Address: |
N16w23415 Stoneridge Dr Waukesha, WI 53187-0828, USA |
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Operative Address: |
North 16 West 23415 Stoneridge Drive Waukesha, WI 53188 United States |
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Telephone: |
414-290-9000 |
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Fax: |
414-290-9130 |
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Legal Form: |
CORPORATION |
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Email: |
- |
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Registered in: |
WISCONSIN |
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Website: |
www.spancrete.com |
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Contact: |
Mr. John R. Nagy - Chairman and Chief Executive Officer |
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Staff: |
430 |
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Activity: |
NAICS 1: Other Concrete Product Manufacturing NAICS 2: Construction Machinery Manufacturing SIC 1: Concrete Products, Nec SIC 2: Construction Machinery |
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Banks
BANK OF AMERICA |
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History
The Spancrete Group, Inc. was founded in 1946 and is based in
Waukesha, Wisconsin. |
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PRINCIPAL
ACTIVITY
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The Spancrete Group, Inc. designs, manufactures, and markets precast products
for the construction industry. |
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Products/Services description: |
It offers RePlenish, a stormwater management precast system that is
effective in runoff reduction and filtration while functioning as a sidewalk,
alley, parking lot, or other related application; The ForeverHome, a solution
for homes; RibSlab, a flooring solution; and CarbonCast enclosure systems.
The company also provides building components, such as floor and roof
building systems; sound resistant systems for parking structures, swimming
pools, gymnasiums, and commercial and industrial building walls and roofs;
architectural precast solutions; wall panels; and bridge girders. In
addition, it provides maintenance and support; equipment and accessories to
licensees worldwide; and plant solutions, such as site selection, plant
design, and full precast equipment production packages. The company serves
commercial, municipal, and residential customers. |
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Brands: |
SPANCRETE |
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Sales are: |
Wholesale |
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Clients: |
Impul Tlaxcalteca Inds Sa Cv Constructora Moyeda Sa De Cv |
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Suppliers: |
China Star International Trade Co., |
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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 |
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The subject employs |
430 employees |
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Payments: |
Regular |
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LOCATION
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Headquarters : |
North 16 West 23415 Stoneridge Drive Waukesha, WI 53188 United States |
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Comments on Address: |
NA |
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Branches: |
WISCONSIN 2331 Spancrete Rd. Valders WI 54245, USA FLORIDA 400 Deer Trail East Sebring FL 33876, USA GEORGIA 95 Newnan South Industrial Dr. Newnan GA 30263, USA ILLINOIS 4012 U.S. Highway 14 Crystal Lake IL 60014, USA EQUIPMENT SERVICES 1324 National Avenue Waukesha WI 53186, USA GREEN BAY SALES OFFICE 2763 Manitowoc Rd. Green Bay, WI 54311, USA NAPERVILLE SALES OFFICE 1751 W. Diehl Rd. #190, Naperville, IL 60563, USA EQUIPMENT SALES OFFICE N16W23415 Stoneridge Drive Waukesha, WI 53188, USA |
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Related Companies: |
No related companies were found. |
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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 does
not disclose information on shareholders. The following information has been obtained
through private sources and could not be confirmed:
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Management: |
Mr. John R. Nagy - Chairman and Chief Executive Officer Mr. Alan Antoniewicz - President and Chief Operating Officer Mr. Henry Nagy - Founder Mr. Todd Backus - Chief Financial Officer Mr. Lyle R. Norman - 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 / Estimated |
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Assets |
20.700.000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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PATENTS |
Concrete roof panel Patent number: 8763317 Abstract: A concrete roof panel for constructing a peaked concrete roof
on a building has a first planar member coupled to a second planar member at
an angle other than 180 degrees. The roof panel includes at least one rib
member coupled to the inside surface of the roof panel. The roof panel
includes a flattened attachment portion at either end thereof for connecting
the roof panel to a side wall of a building. Type: Grant Filed: December 31, 2008 Date of Patent: July 1, 2014 Assignee: The Spancrete Group, Inc. Inventor: Clinton C. Krell Methods for producing precast pervious concrete panels Patent number: 9255404 Abstract: Methods directed to a producing precast pervious concrete
panels. Each pervious concrete panel has a plurality of layers of concrete
mixture, wherein the aggregate used in each layer may be a different size and
each layer is compacted after being laid. The method may further include
providing a slip-former machine or an extruder machine to lay the layers of
pervious concrete mixture. Type: Grant Filed: March 13, 2015 Date of Patent: February 9, 2016 Assignee: The Spancrete Group, Inc. Inventors: Daniel J. Willems, John Nagy, Alan Antoniewicz, Paul
Staroszczyk, Nicholas Passint Modular concrete building Patent number: 8132388 Abstract: A modular concrete building is made of a plurality of precast
concrete panels which may be assembled to provide a building. The panel
sections include lower frame panels or support members, wall panels, floor
panels, and roof panels. The building may be assembled by securing the floor
panels to the support members, securing the wall panels to the floor panels,
and securing the roof panels to the wall panels and to adjacent roof panels.
The roof panels are made of precast concrete and include stiffening ribs. Type: Grant Filed: December 31, 2008 Date of Patent: March 13, 2012 Assignee: The Spancrete Group, Inc. Inventors: John R. Nagy, Clinton C. Krell |
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CASES |
International Union of Bricklayers and Allied Craftworkers Local No 8
District Council of Wisconsin v. The Spancrete Group Inc Plaintiff: International Union of Bricklayers and Allied Craftworkers
Local No 8 District Council of Wisconsin Defendant: The Spancrete Group Inc Case Number: 2:2009cv00556 Filed: June 2, 2009 Court: Wisconsin Eastern District Court Office: Milwaukee Office County: Waukesha Presiding Judge: William E Callahan Nature of Suit: None Cause of Action: 29:185 Employee Pension Plan Jury Demanded By: None |
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TRADEMARKS |
SPANCRETE concrete building materials, namely, slabs, panels and planks Owned by: The Spancrete Group, Inc. Serial Number: 77214414 SPANCRETE concrete building materials, namely, slabs, panels and planks Owned by: The Spancrete Group, Inc. Serial Number: 77214422 MOBILEGREEN PRECAST BY SPANCRETE concrete building materials, namely, double tees, beams, columns,
stairs, stair walls, spandrels and wall panels Owned by: The Spancrete Group, Inc. Serial Number: 77761051 MOBILEGREEN concrete building materials, namely, double tees, beams, columns,
stairs, stair walls, spandrels and wall panels Owned by: The Spancrete Group, Inc. Serial Number: 77761076 SPANCRETE BUILDING INNOVATION. Concrete building materials, namely, slabs, panels and planks Owned by: The Spancrete Group, Inc. Serial Number: 85457007 |
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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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Founded in 1946, The Spancrete Group Inc is a large-sized organization
in the concrete product company’s industry located in Waukesha, WI. It has 430 full time employees and generates an estimated $20.7
million in annual 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 |
Elizabeth |
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POSITION |
Sales |
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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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.72 |
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1 |
INR 88.64 |
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Euro |
1 |
INR 78.14 |
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USD |
1 |
INR 63.98 |
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 : |
NIT |
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.