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MIRA INFORM REPORT
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Report No. : |
487807 |
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Report Date : |
24.01.2018 |
IDENTIFICATION DETAILS
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Name : |
CONTINENTAL MATERIALS, INC. |
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Registered Office : |
137 S Easton Rd, Glenside, PA 19038 |
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Country : |
United States |
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Date of Incorporation : |
1958 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject imports/exports and supplies roofing and building materials in
North America. |
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No. of Employees : |
17 |
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 : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 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: |
CONTINENTAL MATERIALS, INC. |
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Trade Names: |
CONTINENTAL MATERIALS, INC. |
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ID: |
870922 |
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Date Created: |
1958 |
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Date
Incorporated: |
May 28, 1985 |
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Legal Address: |
137 S Easton Rd Glenside, PA 19038, USA |
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Operative
Address: |
Continental Plaza 1614 Old York Road Abington, PA 19001 United States |
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Telephone: |
215-884-4930 |
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Fax: |
215-887-4485 |
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Legal Form: |
CORPORATION |
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Email: |
peterfischer@continentalmaterials.com |
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Registered in: |
PENNSYLVANIA |
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Website: |
www.continentalmaterials.com |
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Contact: |
Peter J. Fischer - President |
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Staff: |
17 |
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Activity: |
NAICS 1: Lumber, Plywood, Millwork, and Wood Panel Merchant
Wholesalers NAICS 2: Roofing, Siding, and Insulation Material Merchant Wholesalers NAICS 3: Metal Service Centers and Other Metal Merchant Wholesalers SIC 1: Medium Density Fiberboard SIC 2: Roofing, Siding, And Insulation SIC 3: Nails |
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Banks: |
BANK OF AMERICA |
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History: |
Continental Materials, Inc. was founded in 1958 and is based in
Abington, Pennsylvania with continental shipping locations in LaSalle, Stockton,
and Rancho Cucamonga, Canada; East Chicago, Indiana; Woods Cross, Utah;
Mexicali, Mexico; Bayonne, New Jersey; Abington and Mertztown, Pennsylvania;
Jarratt, Virginia; Miami, Florida; Diboll, Texas; Tuscaloosa, Alabama; and
Doulglasville, Georgia. |
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PRINCIPAL
ACTIVITY
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Continental Materials, Inc.
imports/exports and supplies roofing and building materials in North America. |
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Products/Services
description: |
It offers construction fasteners, roofing asphalt, underlayments,
roofing fiberboards, application tools, cant strip and tapered edge
fiberboards, roofing nails, and mop yarns and accessories. |
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Brands: |
CONTINENTAL MATERIALS |
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Sales are: |
Wholesale |
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Clients: |
Mexicana Pacific SA De Cv Pintarron Alfra Sa De Cv Megaprofer S.A. |
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Suppliers: |
Qingdao Bestworld Industry-trading Co.,
Ltd. Tianjin Zhonglian Metals Ware Co.,l Astrotech Steels Pvt. Ltd. Veer Plastics Pvt., Ltd. Daejin Steel Company |
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Operations area:
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National and International |
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The company
imports from |
CHINA INDIA KOREA |
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The company
exports to |
MEXICO ECUADOR |
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The subject
employs |
17 employees |
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Payments: |
No complaints |
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LOCATION
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Headquarters : |
Continental Plaza 1614 Old York Road Abington, PA 19001 United States |
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Comments on
Address: |
- |
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Branches: |
Asphalt Shipping Locations East Chicago, IN Mertzstown, PA Woods Cross, UT Synthetic Shipping Locations Atlanta, GA Carrollton, TX West Chester, PA Salt Lake City, UT Other Shipping Locations Bayonne, NJ Hogansville, GA Miami, FL |
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Related
Companies: |
Fiberboard Shipping Locations Louiseville QC Canada Felt Shipping Locations LaSalle, QC Canada Mexicali, Mexico |
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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. We could not confirm shareholders of the subject. |
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Management: |
Peter J. Fischer - President Michael DiStefano - Vice President of
Operations & Business Development Mark Brock - Controller Laura Gargani - Assistant Controller Dave Dickherber - South Central Regional
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 |
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Revenue |
2
000 000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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PATENTS |
No found. |
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GOVERNMENT
CONTRACTS |
Government Contractor: CONTINENTAL
MATERIALS, INC. Name & Address: 1614 OLD YORK RD FL 2 ABINGTON, PA 19001-1716 Number of Defense Contracts Awarded:1 Dollar Amount of Defense Contracts Awarded:
$13,810 |
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CASES |
Continental Materials v. Valco, Inc. Plaintiff - Appellant: CONTINENTAL
MATERIALS CORPORATION Defendant - Appellee: VALCO, INC. Case Number: 17-1108 Filed: March 24, 2017 Court: U.S. Court of Appeals, Tenth
Circuit Nature of Suit: Other Contract Actions CONTINENTAL MATERIALS, INC. v. ROBETEX,
INC. et al Plaintiff: CONTINENTAL MATERIALS, INC. Defendant: ROBETEX, INC. and KERRY TALBOT Case Number: 2:2014cv06941 Filed: December 5, 2014 Court: Pennsylvania Eastern District Court Office: Philadelphia Office County: Montgomery Presiding Judge: CYNTHIA M. RUFE Nature of Suit: Trademark Cause of Action: 15:1125 Jury Demanded By: Plaintiff |
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TRADEMARKS |
NO SMELL Asphalt used in roofing and component
installation and with roofing products, in roofing sytems and for roofing
details Owned by: Continental Materials, Inc Serial Number: 85290933 ECOBOARD Building materials, namely, nonmetal
materials including high density wood fiberboard Owned by: Continental Materials. Inc Serial Number: 86954043 |
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RENEWAL HISTORY |
No records 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 1958, Continental Materials,
Inc. is a small organization in the lumber, plywood, and millwork company’s
industry located in Abington, PA. It has 17 full time employees and
generates an estimated $2 million in annual revenue. The company operates nationally and
internationally, mainly importing from China, India and Korea. 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 |
No complaints |
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CASH
FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW |
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NAME |
David |
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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. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.77 |
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1 |
INR 89.20 |
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Euro |
1 |
INR 78.22 |
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USD |
1 |
INR 63.63 |
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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DIV |
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Report Prepared
by : |
SYL |
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
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Promoters
/ Management background
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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.