|
|
|
MIRA INFORM REPORT
|
Report No. : |
494128 |
|
Report Date : |
01.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
BAKER PETROLITE LLC |
|
|
|
|
Registered Office : |
Corporation Trust Center 1209 Orange St, Wilmington, New
Castle, De, 19801 |
|
|
|
|
Country : |
Unites States |
|
|
|
|
Financials (as on) : |
2016 |
|
|
|
|
Date of Incorporation : |
12.06.1930 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is produces chemical products for hydrocarbon
recovery and processing, pipeline transportation, refining, petrochemical,
aquatic herbicides, and polymers industries |
|
|
|
|
No. of Employees : |
2550 |
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+ |
Low Risk |
Business dealings permissible with low 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 (30.09.2017) |
Current Rating (31.12.2017) |
|
Unites 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 |
UNITES 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%.
|
Source
: CIA |
STATUTORY
INFORMATION
|
|
|
Order: |
BAKER PETROLITE CORPROATION |
|
Address in the order: |
12645 WEST AIRPORT BLVD, SUGAR LAND TX 77478-5050 |
|
Legal Name: |
BAKER PETROLITE LLC |
|
Trade Names: |
BAKER PETROLITE LLC BAKER PETROLITE CORPORATION |
|
ID: |
292308 |
|
Date Created: |
1930 |
|
Date Incorporated: |
12/6/1930 |
|
Legal Address: |
CORPORATION TRUST CENTER 1209 ORANGE ST, WILMINGTON, NEW
CASTLE, DE, 19801, USA |
|
Operative Address: |
12645 W. Airport Blvd., Sugar Land, TX, 77478, USA |
|
Telephone: |
281-276-5400 |
|
Fax: |
(281) 275-7218 |
|
Legal Form: |
LIMITED LIABILITY COMPANY |
|
Email: |
- |
|
Registered in: |
DELAWARE |
|
Website: |
www.bakerhughes.com |
|
Contact: |
Steve Nichols - North America Logistics Manager |
|
Staff: |
2550 |
|
Activity: |
NAICS 1: All Other Miscellaneous Chemical Product and
Preparation Manufacturing NAICS 2: All Other Basic Organic Chemical Manufacturing SIC 1: Chemical Preparations, Nec SIC 2: Industrial Organic Chemicals, Nec |
|
|
|
|
Banks: |
BANK OF AMERICA |
|
|
|
|
History: |
The company was incorporated in 1930 and is based in Houston,
Texas. The company was formerly known as Baker Performance Chemicals
Incorporated. |
|
|
|
|
Parent Company: |
Baker Petrolite Corporation operates as a subsidiary of: Baker Hughes Incorporated 17021 Aldine Westfield Rd Houston, TX, USA |
|
|
|
PRINCIPAL
ACTIVITY
|
|
|
|
Baker Petrolite Corporation
produces chemical products for hydrocarbon recovery and processing, pipeline
transportation, refining, petrochemical, aquatic herbicides, and polymers
industries. |
|
Products/Services description: |
It offers protection chemicals, such as aquatic
herbicides; and oil and gas production products, including reservoir souring
controllers, wax and asphaltene control agents, foamers, scale and corrosion controllers,
and emulsion breakers, as well as water clarifiers to clean produced water.
The company also provides polymers that include linear low molecular weight
polyethylene, polymeric primary alcohols, and polyalphaolefins; and pipeline
products, such as pipeline drag reducers for the friction pressure loss
reduction. In addition, it offers oil and gas refining products, and drilling
and simulation additives; and process performance, optimization, and
management software for the iron and steel processing. |
|
Brands: |
BAKER PETROLITE |
|
Sales are: |
Wholesale |
|
Clients: |
Baker Petrolite Del Ecuador S.A. Quimica Apollo S.A. De C.V. Baker Hughes De Mexico S De Rl De Cv Complex Quimica Sa De Cv |
|
Suppliers: |
NA |
|
Operations area: |
National and International |
|
The company exports to |
ECUADOR MEXICO |
|
The subject employs |
2550 employees |
|
Payments: |
Regular |
|
|
|
LOCATION
|
|
|
Headquarters : |
12645 W. Airport Blvd., Sugar Land, TX, 77478, USA |
|
Comments on Address: |
- |
|
Branches: |
The company has several branches. Some of them are: 5893 Meridian Rd Lone Grove, Oklahoma 73443 United States Baker Petrolite Llc (Branch Location) 160 Baldered Rd Jena, Louisiana 71342 United States Baker Petrolite Llc (Branch Location) 5821 Rangeline Rd Ste 102 Theodore, Alabama 36582-5208 United States Baker Petrolite Llc (Branch Location) 2431 Fenwood Rd University Heights, Ohio 44118-3805 United States Baker Petrolite Llc (Branch Location) 3705 Industrial Blvd Laurel, Mississippi 39440-5840 United States |
|
Related Companies: |
The company has several sister companies. Some of them
are: Baker Hughes Holdings I B.V. Netherlands Baker Hughes Luxembourg Holdings S.C.A. Luxembourg Baker Hughes Limited United Kingdom Baker Hughes Norge A/S Norway Baker Hughes (Deutschland) Holdings GmbH Germany |
|
|
|
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
|
|
|
Listed at the stock exchange: |
NO |
|
Capital: |
NA |
|
Shareholders: |
The company does not disclose information on shareholders.
The following information has been obtained through private sources: Baker Petrolite Corporation operates as a subsidiary of: Baker Hughes Incorporated 17021 Aldine Westfield Rd Houston, TX, USA This information was confirmed by the company. |
|
Management: |
Steve Nichols - North America Logistics Manager |
|
|
|
FINANCIAL
INFORMATION
|
|
|
|
The company does not make its financial
statements public. The following information has been provided by private
sources: |
|
|
|
|
USD 2016 |
|
|
Revenue |
800.000.000 |
|
Cash flow |
Normal |
|
|
|
LEGAL
FILINGS
|
|
|
|
|
|
PATENTS |
ADDITIVES TO ENHANCE METAL AND AMINE REMOVAL IN REFINERY
DESALTING PROCESSES Publication number: 20160230101 Abstract: It has been discovered that metals and/or amines
can be removed or transferred from a hydrocarbon phase to a water phase in an
emulsion breaking process by using a composition that contains water-soluble
hydroxyacids. Suitable water-soluble hydroxyacids include, but are not
necessarily limited to glycolic acid, gluconic acid, C2-C4 alpha-hydroxy
acids, poly-hydroxy carboxylic acids, thioglycolic acid, chloroacetic acid,
polymeric forms of the above hydroxyacids, poly-glycolic esters, glycolate
ethers, and ammonium salt and alkali metal salts of these hydroxyacids, and
mixtures thereof. The composition may also include at least one mineral acid
to reduce the pH of the desalter wash water. A solvent may be optionally
included in the composition. The invention permits transfer of metals and/or
amines into the aqueous phase with little or no hydrocarbon phase undercarry
into the aqueous phase. Type: Application Filed: April 15, 2016 Publication date: August 11, 2016 Applicant: Baker Petrolite LLC Inventors: Tran M. Nguyen, Lawrence N. Kremer, Jerry J.
Weers ADDITIVES TO ENHANCE METAL AND AMINE REMOVAL IN REFINERY
DESALTING PROCESSES Publication number: 20170066975 Abstract: It has been discovered that metals and/or amines
can be removed or transferred from a hydrocarbon phase to a water phase in an
emulsion breaking process by using a composition that contains water-soluble
hydroxyacids. Suitable water-soluble hydroxyacids include, but are not
necessarily limited to glycolic acid, gluconic acid, C2-C4 alpha-hydroxy
acids, poly-hydroxy carboxylic acids, thioglycolic acid, chloroacetic acid,
polymeric forms of the above hydroxyacids, poly-glycolic esters, glycolate
ethers, and ammonium salt and alkali metal salts of these hydroxyacids, and
mixtures thereof. The composition may also include at least one mineral acid
to reduce the pH of the desalter wash water. A solvent may be optionally
included in the composition. The invention permits transfer of metals and/or
amines into the aqueous phase with little or no hydrocarbon phase undercarry
into the aqueous phase. Type: Application Filed: April 15, 2016 Publication date: March 9, 2017 Applicant: Baker Petrolite LLC Inventors: Tran M. Nguyen, Lawrence N. Kremer, Jerry J.
Weers |
|
|
|
|
GOVERNMENT CONTRACTS |
Government Contractor: BAKER
PETROLITE CORPORATION Name & Address: 12645 W AIRPORT BLVD SUGAR LAND, TX 77478-6120 Number of Defense Contracts
Awarded: 1 Dollar Amount of Defense Contracts Awarded: $45,533 |
|
|
|
|
CASES |
Burroughs Diesel, Inc. v. Baker Petrolite, LLC et al Plaintiff: Burroughs Diesel, Inc. Defendant: Baker Petrolite, LLC, Baker Hughes Oilfield Operations,
Inc., Poly Processing Company, LLC and John Does 1-10 Case Number: 2:2018cv00026 Filed: February 21, 2018 Court: Mississippi Southern District Court Office: Eastern (Hattiesburg) Office County: Jones Referring Judge: Michael T. Parker Presiding Judge: Keith Starrett Nature of Suit: Property Damage Product Liability Cause of Action: 28:1331 Jury Demanded By: Plaintiff Travelers Property Casualty Company of America v. Baker
Petrolite, LLC et al Plaintiff: Travelers Property Casualty Company of America Defendant: Baker Petrolite, LLC and Poly Processing
Company, LLC Case Number: 2:2018cv00028 Filed: February 22, 2018 Court: Mississippi Southern District Court Office: Eastern (Hattiesburg) Office County: XX US, Outside State Referring Judge: Michael T. Parker Presiding Judge: Keith Starrett Nature of Suit: Personal Property: Other Cause of Action: 28:1332 Diversity-Property Damage Jury Demanded By: None |
|
|
|
|
TRADEMARKS |
All the trademarks belong to the company`s parent: Chemical, biochemical, biological and bacteriological
research and analysis; Consulting services in the field of improvement… Owned by: BAKER HUGHES INCORPORATED Serial Number: 85014641 TRETOLITE Chemicals Used in the Petroleum, Gas and Industrial Water
Treatment Industries Owned by: BAKER HUGHES INCORPORATED Serial Number: 73443888 DEMULSO DEMULSIFIER Owned by: BAKER HUGHES INCORPORATED Serial Number: 71639829 PETRECO DEMULSIFYING, DEHYDRATING, DESALTING, AND PURIFICATION OF
HYDROCARBONS Owned by: BAKER HUGHES INCORPORATED Serial Number: 72043868 |
|
|
|
|
RENEWAL HISTORY |
No found. |
|
|
|
|
UCC |
No records found. |
|
|
|
|
OFAC Sanctions List Search |
The company is not listed in the OFAC list. |
|
|
|
SUMMARY
|
|
|
|
Founded in 1930, Baker Petrolite Llc is a large-sized
organization in the chemical preparation company’s industry located in Sugar
Land, TX. It has 2,550 full time employees and generates an
estimated $800 million in annual revenue. The company operates nationally and internationally,
mainly exporting to Ecuador and Mexico. It is ACTIVE In business with medium
credit risk. |
RISK
INFORMATION
|
|
|
|
|
|
DEBTS |
Controlled |
|
PAYMENTS |
Regular |
|
CASH
FLOW |
Normal |
|
STATUS |
Active |
|
|
|
INTERVIEW
|
|
|
NAME |
Bob |
|
POSITION |
Sales |
|
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 contact name. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.10 |
|
|
1 |
INR 94.44 |
|
Euro |
1 |
INR 79.59 |
|
USD |
1 |
INR 65.19 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
KET |
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.