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MIRA INFORM REPORT
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Report No. : |
488684 |
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Report Date : |
29.01.2018 |
IDENTIFICATION DETAILS
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Name : |
RENOLD INC. |
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Registered Office : |
111 Eighth Avenue New York, New York, 10011, Usa |
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Country : |
United States |
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Date of Incorporation : |
22.09.1972 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject produces precision engineering products. |
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No. of Employees : |
110 |
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 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: |
RENOLD INC. |
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Trade Names: |
RENOLD INC. |
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ID: |
242847 |
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Date Created: |
1972 |
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Date Incorporated: |
SEPTEMBER 22, 1972 |
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Legal Address: |
111 EIGHTH AVENUE NEW YORK, NEW YORK, 10011, USA |
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Operative Address: |
100 BOURNE ST STE 2 WESTFIELD, NEW YORK, 14787-9706, USA |
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Telephone: |
(716) 326-3121 |
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Fax: |
(716) 326-6121 |
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Legal Form: |
CORPORATION |
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Email: |
ainfo@renoldajax.com |
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Registered in: |
NEW YORK |
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Website: |
www.renold.com |
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Contact: |
MIKE CONLEY – Chief Executive Officer |
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Staff: |
110 |
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Activity: |
NAICS 1: Mechanical Power Transmission Equipment
Manufacturing NAICS 2: Conveyor and Conveying Equipment
Manufacturing NAICS 3: Speed Changer, Industrial High-Speed Drive,
and Gear Manufacturing SIC 1: Power Transmission Equipment, Nec SIC 2: Conveyors And Conveying Equipment SIC 3: Speed Changers, Drives, And Gears |
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Banks
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BANK OF AMERICA MANUFACTURERS AND TRADERS TRUST COMPANY RENOLD PLC UNITED STATES STEEL CORPORATION |
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History
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The company was founded in 1972. |
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Parent Company: |
The company operates as a subsidiary of:
100 Bourne St Westfield, NY, USA |
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PRINCIPAL
ACTIVITY
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Renold Inc. produces precision engineering products. |
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Products/Services description: |
The Company offers industrial chains and power
transmission, gears, freewheel clutches, and couplings products. Renold
operates worldwide. |
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Brands: |
RENOLD |
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Sales are: |
Wholesale |
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Clients: |
Sociedad Boliviana De Cemento S.A. Ternium Mexico S.A. De C.V. Industrias Michelin Sa de Cv Casa Sueca S.A Bhushan Steel Limited. |
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Suppliers: |
Elsto Aandrijftechniek Renold Hi-Tec Couplings |
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Operations area: |
National and International |
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The company imports from |
NETHERLANDS UNITED KINGDOM |
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The company exports to |
BOLIVIA MEXICO COLOMBIA INDIA |
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The subject employs |
110 employees |
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Payments: |
Regular |
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LOCATION
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Headquarters : |
100 BOURNE ST STE 2 WESTFIELD, NEW YORK, 14787-9706, USA |
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Comments on Address: |
- |
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Branches: |
Texas Service Center 1199 E. Main Itasca, TX 76055, USA West Coast Service Center 15320-5 Valley View Avenue La Mirada, CA 90638, USA Renold Jeffrey, Tennessee Address 2307 Maden Drive Morristown, TN 37813 USA |
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Related Companies: |
Renold Canada Ltd 622 rue De Hull Ville La Salle Quebec H8R 1V9 Canada Renold España Renold Poland Address Office Center Plac Lotników 2, 72-100 Goleniów Renold GmbH Postfach 1635 + 1645 37574 Einbeck - Juliusmühle Germany |
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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. The company operates as a subsidiary of: Renold Holdings Inc. 100 Bourne St Westfield, NY, USA This information was confirmed by the company. |
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Management: |
MIKE CONLEY – Chief Executive Officer Laura Shearer - Human Resourced Administrator |
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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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Net Revenue |
6 930 00 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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PATENTS |
Method of filling containers Patent number: 6089283 Abstract: A method of filling containers with bulk material
wherein a bag is filled, weighed and densified at the same time. The bag is
supported on a releasable hanger. The bag is constantly weighed, and a
predetermined quantity of material is placed in the bag. The bag is raised
and lowered and vibrated to settle, or densify, the material while the
material is being admitted to the bag. The bag may be vibrated while being
filled by counter-rotating vibrators. The material is weighed and the net
weight is determined. The method of the present invention can be used for
filling drums, boxes and other containers, as well as bags. Specific designed
power operated hooks are used to support the bag. The containers are
supported on a platform. Drums as well as bags can be filled without any
change in the machine requiring tools. A three piece spout is used to fill
bags and a drum head adapter is supported on the spout to fill drums. Type: Grant Filed: December 15, 1998 Date of Patent: July 18, 2000 Assignee: Renold, Inc. Inventors: Richard P. Sienerth, John E. Zarycki,
Michael J. Melaragno Multi-container filler Patent number: 5975155 Abstract: A container filling machine having a frame
and a fill station on the frame. The fill station has hooks to engage
stirrups on the top of the bag. The fill station also has a platform to
support a first open topped container. The fill station also has hooks to
support a first open top container. A filling member is supported on the
hooks for supporting an open top container. A dispensing means is supported
on the frame of the open top container to fill the top container and to fill
a container resting on the platform. Means is provided to automatically
release the hooks and means is provided to shake the bag to settle the
material in it and to move the bags towards the front of the machine. Hooks
are used to facilitate removing the bag. Type: Grant Filed: December 19, 1997 Date of Patent: November 2, 1999 Assignee: Renold, Inc. Inventors: Richard P. Sienerth, John E. Zarycki,
Michael J. Melaragno |
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GOVERNMENT CONTRACTS |
Government Contractor: RENOLD, INC Name & Address: 100 BOURNE ST WESTFIELD, NY 14787-9706 Number of Defense Contracts Awarded : 3 Dollar Amount of Defense Contracts Awarded:$70,539 |
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CASES |
No found. |
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TRADEMARKS |
AJAX VIBRATING CONVEYORS, VIBRATING PACKERS, AND DRIVE
SHAFT COUPLINGS Owned by: RENOLD INC. Serial Number: 73696240 AJAX VIBRATING MATERIALS HANDLING EQUIPMENT, NAMELY,
CONVEYORS, SCREENS, FEEDERS, SHAKERS AND PACKERS, AND DRIVE SHAFT COUPLINGS… Owned by: RENOLD INC. Serial Number: 73703727 AJAX VIBRATING MATERIAL HANDLING EQUIPMENT - NAMELY,
VIBRATING CONVEYORS, SCREENS, FEEDERS, SHAKERS AND PACKERS AND DRIVE SHAFT… Owned by: RENOLD INC. Serial Number: 73754088 COMPRESI-FLEX SHAFT COUPLINGS, NOT FOR LAND VEHICLES Owned by: RENOLD INC. Serial Number: 75698581 |
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RENEWAL HISTORY |
Filing Date Name
Type Entity Name JUN 29, 1976 Actual RENOLD INC. MAR 14, 1974 Actual RENOLD AJAX INC. NOV 01, 1972 Actual AJAX FLEXIBLE COUPLING CO. INC. SEP 22, 1972 Actual RENOLD ACQUISITION CORPORATION |
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UCC |
Debtor Names: RENOLD
INC. BOURNE STREET, WESTFIELD, NY 14787-0546, USA Secured Party Names: MANUFACTURERS
AND TRADERS TRUST COMPANY File no. File
Date Lapse Date Filing Type 209351 10/06/1992 10/06/1997 Financing Statement 101923 05/19/1997 10/06/2002 Continuation 099865 04/29/2002 10/06/2007 Continuation 200612078482568 12/07/2006 10/06/2007 Financing Statement Amendment 200704175406395 04/17/2007 10/06/2012 Continuation 201204275492627 04/27/2012 10/06/2017 Continuation 201210016098304 10/01/2012 10/06/2017 Termination Debtor Names: RENOLD
INC. BOURNE STREET, WESTFIELD, NY 14787-0546, USA Secured Party Names: MANUFACTURERS
AND TRADERS TRUST COMPANY File no. File
Date Lapse Date Filing Type 209352 10/06/1992 10/06/1997 Financing Statement 101924 05/19/1997 10/06/2002 Continuation 099864 04/29/2002 10/06/2007 Continuation 200612078482645 12/07/2006 10/06/2007 Financing Statement Amendment 200704175406422 04/17/2007 10/06/2012 Continuation 201204275492603 04/27/2012 10/06/2017 Continuation 201210016098378 10/01/2012 10/06/2017 Termination 3Debtor Names: RENOLD INC. 100 BOURNE STREET, SUITE 2, WESTFIELD, NY
14787-9076, USA Secured Party Names: MANUFACTURERS
AND TRADERS TRUST COMPANY ONE M&T PALZA, BUFFALO, NY 14240-0000, USA File no. File
Date Lapse Date Filing Type 201095 10/19/2001 10/19/2006 Financing Statement 200604205379505 04/20/2006 10/19/2011 Continuation 200612078482683 12/07/2006 10/19/2011 Financing Statement Amendment 201105245549711 05/24/2011 10/19/2016 Continuation 201210016099332 10/01/2012 10/19/2016 Termination 4. Debtor
Names: RENOLD INC. 100 BOURNE STREET, SUITE 2, WESTFIELD, NY
14787-9076, USA Secured Party Names: RENOLD
PLC STYAL ROAD, WYTHENSHAW, MANCHESTER 00000-0000, EN File no. File
Date Lapse Date Filing Type 205529 10/24/2001 10/24/2006 Financing Statement Debtor Names: RENOLD
INC. 100 BOURNE STREET - SUITE 2, WESTFIELD, NY 14787,
USA Secured Party Names: UNITED
STATES STEEL CORPORATION 600 GRANT STREET - ROOM 1500, PITTSBURGH, PA 15219,
USA File no. File
Date Lapse Date Filing Type 200406040583371 06/04/2004 06/04/2009 Financing Statement 200903230162931 03/23/2009 06/04/2014 Continuation |
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OFAC Sanctions List Search |
The company is not listed in the OFAC list. |
SUMMARY
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Renold Inc. is a mid-sized organization in the power
transmission equipment manufacturers industry located in Westfield, NY. It opened its doors in 1972 and now has an estimated
$6.9 million in yearly net revenue and 110 employees. The company operates nationally and internationally,
mainly importing from the Netherlands and United Kingdom. It is ACTIVE in
business with no negative records. |
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 |
John |
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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 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 63.50 |
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1 |
INR 90.92 |
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Euro |
1 |
INR 79.07 |
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USD |
1 |
INR 63.59 |
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 : |
POJ |
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
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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.